Although the ISA (UK) requirements for auditing revenue have been largely unchanged in recent years, it remains an area where firms are regularly pulled up on QAD inspection visits. This one hour webinar will provide an insight into where problems arise and guidance on how to address them.
With a focus on small and medium sized audits in particular. Topics will include:
- Which revenue streams to look at and how much evidence to gather
- The ‘rebuttable presumption’ and what it means in practice
- Directional testing – common tips and traps
- How effective analytical review and controls work reduces legwork on substantive testing
- Common QAD concerns and how to tackle them
- The role of professionals scepticism in the audit of revenue
- Effective documentation – what to put on – and leave off – the file
Broadcast on 15 April 2020
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