Revisions to the Ethical Standard for Auditors - the FRC Consultation (Oct 23)
Category: Law & Regulation and Compliance | Duration: 1hr | Tag: VODUK2365 | Type: Video | Course Level: Need to Know | Speaker: Edward Rands | Date: 19/10/2023 10:00
Course Details
The Financial Reporting Council’s Ethical Standard for Auditors deals with integrity, objectivity and independence for all audits and other assurance engagements. Having last revised the standard in 2019, the FRC is now consulting on further revisions. It states that the proposals will further enhance and clarify the principles of integrity, objectivity and independence which auditors must abide by. The proposals also take account of changes to the Code of Ethics issued by the International Ethics Standards Board for Accountants. This course provides an insight into the proposed changes and their potential practical impact for auditors.
Edward Rands covers the following topics during this course:
- Background to the changes – why has the FRC issued the proposals?
- Proposed removal of the “Other Entity of Public Interest” category;
- Proposed strengthening of the breach reporting requirements;
- Proposed clarification of the application of prohibitions to different categories of entity;
- Proposed revisions to the restrictions on the provision of non-audit services.
CPD Course Speaker
ECR Professional Ltd
Edward Rands
Edward Rands was for eleven years the Risk and Professional Standards partner at a large independent firm of chartered accountants.
He led the firm’s technical team, which was responsible for maintaining and updating accounting and auditing knowledge, and for dealing with complex problems and queries as they arose.
He was also the founder chairman of the UK technical committee of his firm’s international network, and a contributing author of the network’s commercially published IFRS manual.
He now works as an independent consultant, advising firms on technical and regulatory matters.
He led the firm’s technical team, which was responsible for maintaining and updating accounting and auditing knowledge, and for dealing with complex problems and queries as they arose.
He was also the founder chairman of the UK technical committee of his firm’s international network, and a contributing author of the network’s commercially published IFRS manual.
He now works as an independent consultant, advising firms on technical and regulatory matters.