Auditing

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Gill Gittings
Gill Gittings Registered Posts: 121 Dedicated contributor 🦉
Hello

I know AAT MIP people don't do auditing but I am currently working for a firm that does audits and I have been given the chance of running an audit in April this year. It is an area which I want to develop because I am currently studying ACCA. The thing is I'm not well up on the new standards that have just come in and just wondered if anyone else on here knew where I could get some info about the new ISA'S so I can do some research. I know I'm doing ACCA but I'm not up to the final level yet but also want to study the P7 paper.

Thanks in advance of any help :)

Gill x

Comments

  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    Hi Gill,

    Bear in mind that the 'Clarity' ISAs are effective only from December 2010 year-ends. Any reporting periods prior to this can be done under the previous ISAs, though you can 'early-adopt' the Clarity ISAs (most software providers have just streamlined their programmes to take effect from December 10 year-ends and onwards).

    My book which you can obtain from Amazon or Waterstones can be pre-ordered (it publishes on 25 February). Tesco need to update their page count which I suspect may affect the price they are charging as they have understated the page count so if you want to take advantage of their offer, I'd order it now!

    There is also a lot of guidance I have written about the Clarity ISAs in my articles which can also be found on AccountingWEB particularly the 'Clarity ISA Checklist' one which was uploaded this week.

    Kind regards
    Steve
  • beverly hudson
    beverly hudson Registered Posts: 95 Regular contributor ⭐
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    Just be aware that books on technical subjects are good but you need also to go on Good quality CPD courses to keep up to date with developments. Generally speaking books are easily out of date so some issues may not be relevant particularly on accounting issues and tax.I am a freelance tutor so can offer some courses if you need.
  • RAS
    RAS Registered Posts: 124 Dedicated contributor 🦉
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    The APB website has some good material on the main changes as a result of the clarity ISA process. However, I would have thought your emloyers should be providing you with the proper training. Is there anyone within your firm that can run through the changes with you?
  • Gill Gittings
    Gill Gittings Registered Posts: 121 Dedicated contributor 🦉
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    @Steve - thank you. I will preorder this as it sounds like what I need. I have also printed off your articles so will read these this weekend.

    @Beverely - we do CPD courses at work to keep up to date. With all due respect also, I have read some of your advice where you contradict Steve quite a lot which turns out to be inaccurate advice on your part so I would be reluctant to attend one of your courses. I do not wish to cause you offence but I am sure I am not alone with that opinion. Thanks anyhow for the input.

    Gill
  • Gill Gittings
    Gill Gittings Registered Posts: 121 Dedicated contributor 🦉
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    RAS wrote: »
    The APB website has some good material on the main changes as a result of the clarity ISA process. However, I would have thought your emloyers should be providing you with the proper training. Is there anyone within your firm that can run through the changes with you?

    Thanks Ras. I looked on the APB website but it is quite difficult to follow. My employers do provide training but this is something I want to do from a personal objective to also compliment my studies :)

    Gill x
  • beverly hudson
    beverly hudson Registered Posts: 95 Regular contributor ⭐
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    @Beverely - we do CPD courses at work to keep up to date. With all due respect also, I have read some of your advice where you contradict Steve quite a lot which turns out to be inaccurate advice on your part so I would be reluctant to attend one of your courses. I do not wish to cause you offence but I am sure I am not alone with that opinion. Thanks anyhow for the input.

    Gill

    no offence taken. Though I must take issue with the implication in your post. My "disagreements" with steve's replies were simply because he answers from a real life stance whereas I am a tutor and there are differing issues in the two. To imply I would not teach technically correct is quite insulting.
  • Gill Gittings
    Gill Gittings Registered Posts: 121 Dedicated contributor 🦉
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    Again I apologise if I am being offensive but I disagree with how your posts came across. I work in the real world as you put it and I am also a student so know what goes on in the tutor world and the 2 are not THAT different. I am sure you are a good tutor and that your 'disagreements' are one offs but the way you went about putting your point across with Steve was nothing short of unproffessional.
    Now if you don't mind I would rather not discuss this issue with you further.
  • Steve Collings
    Steve Collings Registered Posts: 997 Epic contributor 🐘
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    Generally speaking books are easily out of date so some issues may not be relevant particularly on accounting issues and tax.

    I would like to confirm that my forthcoming book is bang up to date and will be edited annually to take account of changes. Of course standards do change but the changes are usually done over time and with a four month exposure draft commentary. This gives authors time to update publications. A website will also be run via the publisher to accompany the book where I will publish updates before subsequent editions are published.

    Regards
    Steve
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    It's sad that Steve has to post defending himself after Beverly comes on here yet again picking holes with him. We all know that Steve is not only excellent at what he does but that he is incredibly generous with his time and expertise.

    It's especially sad considering we had this last November:
    Steve you are right and I apologise to anyone who was offended by my post. I will no longer contribute to any further discussions on here. Good luck for the future.
  • Julia
    Julia Registered Posts: 78 Regular contributor ⭐
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    I don't think Steve needs to justify any of his works to any member of the profession. Steve is probably the most knowledgeable expert on financial reporting and auditing issues this country has. I work for BPP as a subject specialist and his name is very widely known in auditing circles and whose opinion is very well respected. Books do become out of date which is why we have updated editions.

    Ignore the critics Steve!
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