Course Overview

IFRS can be challenging for organisations to understand and apply. This creates numerous risks for auditors.

We have designed a half day course looking at common issues that have been identified with regard to IFRS and the risks that it throws up for auditors and exploring what you can do to manage these risks. The course content is influenced by common themes that have come up from QAD inspection visits along with calls to our technical helpline and experience of issues raised in our extensive IFRS training courses. It also looks at publications from AQR on common themes and areas that they have identified as needing improvement.

Finally whilst not covering in detail the technical changes due to IFRS (these are covered on separate course and are presumed knowledge) it will cover the key risks areas in each of the new standards and what auditors need to plan for to mitigate these risks.

Learning objectives

• What are the common themes identified by QAD and AQR
• Common issues identified from technical helpline calls
• What can you do to ensure that you manage these risks effectively in the future
• New accounting standards – what are the key risks on each of these

Please note, this course is focused on the financial reporting risks and how to manage these rather than an auditing course looking at ISAs.

The course also assumes that you are already up to speed with the new IFRS developments, if not please attend “IFRS update 3 changes every accountant needs to know” prior to attending this course

Who should attend

This course is aimed at auditors who work with organisations using IFRS reporting standard. You should have a working knowledge of recent IFRS developments, if not, please attend “IFRS Update – three changes every accountant needs to know”.