CHARIOT December 2009 Update Online

Thu, Dec 10, 2009

CHARIOT has recently been updated online. The December 2009 Build has been uploaded and the following are the recent additions to the site:

CAI Material

  • IS 07/2009 International Education Standard 8 - Competence requirements for audit professionals
  • IS 08/2009 Reporting to Enterprise Ireland in respect of the Employment Subsidy Scheme (Temporary)
  • IS 09/2009 Companies Act Citation
  • IS 10/2009 Companies (Amendment) Act 2009: Directors Loans
  • Audit Regulations and Guidance 2008 (UK)


New APB Clarified International Standards on Auditing (UK and Ireland) - applicable for financial periods ending on or after 15 December 2010

  • APB Scope and Authority of Pronouncements Summary of changes in the new ISAs (UK and Ireland)
  • APB Glossary of terms 2009
  • ISQC (UK and Ireland) 1
  • 200 Overall objectives of the independent auditor and the conduct of an audit in accordance with International Standards on Auditing (UK and Ireland)
  • 210 Agreeing the terms of audit engagements
  • 220 Quality control for an audit of financial statements
  • 230 Audit Documentation
  • 240 The auditor's responsibilities relating to fraud in an audit of financial statements
  • 250A Consideration of laws and regulations in an audit of financial statements
  • 250B The auditor's right and duty to report to regulators in the financial sector
  • 260 Communication with those charged with governance
  • 265 Communicating deficiencies in internal control to those charged with governance and management
  • 300 Planning an audit of financial statements
  • 315 Identifying and assessing risks of material misstatement through understanding the entity and its environment
  • 320 Materiality in planning and performing an audit
  • 330 The auditor's responses to assessed risks
  • 402 Audit considerations relating to an entity using a service organisation
  • 450 Evaluation of misstatements identified during the audit
  • 500 Audit evidence
  • 501 Audit evidence - specific considerations for selected items
  • 505 External confirmations
  • 520 Analytical procedures
  • 530 Audit sampling
  • 540 Auditing, accounting estimates, including fair value accounting estimates, and related disclosures
  • 550 Related parties
  • 560 Subsequent events
  • 570 Going concern
  • 580 Written representations
  • 600 Special considerations - audits of group financial statements (including the work of component auditors)
  • 610 Using the work of internal auditors
  • 620 Using the work of an auditor's expert
  • 700 The auditor's report on financial statements
  • 705 Modifications to opinions in the independent auditor's report
  • 706 Emphasis of matter paragraphs and other matter paragraphs in the independent auditor's report
  • 710 Comparative information - corresponding figures and comparative financial statements
  • 720A The auditor's responsibilities relating to other information in documents containing audited financial statements
  • 720B The auditor's statutory reporting responsibility in relation to directors' reports


Other APB and auditing material

  • APB Ethical Standard 3 (Revised) Long association with the audit engagement
  • APB Practice Note 23 (Revised) Auditing Complex Financial Instruments Interim Guidance
  • IAASB Staff Practice Alert External confirmations


ASB Material

  • ASB Rising to the challenge - a review of narrative reporting by UK listed companies
  • ASB Pro-Active Accounting Activities In Europe (PAAinE) The Financial Reporting Of Pensions: Feedback And Redeliberations


IASB Standards

  • Classification of Rights Issues (Amendment to IAS 32)
  • IAS 24 Related Party Disclosures Revised
  • IFRS 9


IASB Updates

  • IASB Update September 2009
  • IASB Additional Update 22nd September 2009
  • IASB Additional Update 29th September 2009
  • IASB Update October 2009
  • IASB Additional Update 6 October 2009
  • IASB Additional Update 15&16 October 2009


Corporate Governance

  • FRC Going concern and liquidity risk: guidance for directors of UK companies 2009
  • FRC Choice in the UK audit market: Fourth progress report
  • FRC Challenges for audit committees arising from current economic conditions (Nov 2009)


UK Pensions Regulator

  • A review of retirement information for DC members

ROI Company Legislation

  • Statutory Instrument 09/316:The Shareholders' Rights Directive Regulations 2009


EU Material

  • Commission Regulation (EC) No 839/2009
  • Commission Regulation (EC) No 824/2009
  • Commission Regulation (EC) No 636/2009
  • Commission Regulation (EC) No 495/2009
  • Commission Regulation (EC) No 494/2009
  • Commission Regulation (EC) No 460/2009
  • Commission Regulation (EC) No 254/2009
  • Commission Regulation (EC No 1274/2008

 

CHARIOT online is updated by the Representation and Technical Policy Department of ICAI on a bi-monthly basis to reflect new guidance and/or technical material. The next build will be in February 2010.

 

Recommended Reading

Featured book

A Practical Guide to Insolvency by Kavanagh Fennell now available on the iBookstore This easy-to-use guide to the complexities of insolvency in Ireland for business managers, accountants, and other professionals, previously published in paperback, is available for your iPad in the iBookstore and for your Kobo eReader from KoboBooks.

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