Course Details

ISA 240, dealing with the auditor’s responsibilities in relation to fraud, is one of the fundamental building blocks of an effective audit. A revised version has been issued and will take effect from late 2021.

In this on demand CPD Course, Edward Rands of ECR Professional Ltd provides delegates with an understanding of the new requirements and advises on how they can start now on changing their systems and procedures to ensure compliance.

Topics covered include:

  • Background to the need for the revisions
  • The link between the revisions and changes to other standards such as ISA 315 on risk assessment, and ISA 540 on the audit of accounting estimates
  • The increased emphasis on professional scepticism
  • The changes to risk assessment procedures and responses
  • Practical implications and a look ahead

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.