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2020 IRBA Public Inspection Report

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Learning objectives   

  By the end of this event the participant should:  

• Be aware of the contents of the IRBA Inspections Report, including: 

  • The findings - focus on recurring quality deficiencies; and 

  • Recommendations. 

• Be aware of the basic requirements relating to the remedial action process; 

• Be able to identify similar shortcomings within own practice; 

• Be aware of actions necessary to pass upcoming IRBA inspections; 

• Be able to inform audit/ other assurance staff on improvements and quality measures; and  

• Be able to adapt standardised working papers that address deficiencies identified in the report. 

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Content  

  The webinar will cover the following topics:  

• IRBA Public Inspections Report - Analysis and summary: 

  • Objective. 

  • Background and focus areas. 

  • Overview of inspection results. 

  • Key inspection themes:  

    • Deficiencies found at firm level.  

    • Deficiencies found at engagement level. 

  • Remedial Action Process:  

    • Root cause analysis. 

    • Remedial action plan. 

  • Future outlook: What to expect next?