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PQAs for Credit Unions 2016 ROI

Available: In stock

Updated toolkit for September 2016 year end audits – available to download now

Price: €285.00   


Product type:  
Practice toolkit
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Release date: 13 September 2016

The toolkit aims to assist in the direction and documentation of the firm’s audit of credit unions and can be used to develop a work programme suitable for the particular needs of an individual credit union client.

This year’s audit season for Credit Union will produce new and substantial challenges for auditors. This is the first year of application of FRS 102 for most Credit Unions. New Regulations have been implemented and the Practice Note has been updated. This work programme reflects these changes and more.

We have converted it to Excel for ease of preparation on screen, and included the familiar navigation features from the main PQAs.

Key features include:

  • The Procedures now include updated references to the Credit Union Act 1997 (as amended), the 2016 Regulations and to the updated Practice Note.
  • The workpack references FRS 102. In particular, we have updated the sections on Investments, Loans to members and Reserves.  We have included a section on First Time Application of FRS 102 and we have updated the Audit Planning Memorandum. 
  • The sequence of the work programmes has been revised so as to make it more understandable and to bring the order more into line with the Procedures for Quality Audits (PQAs) for companies.       
  • The completion sections have been extensively revised and simplified where possible.  Separate work programmes for Events after the end of the Reporting Period, Going Concern,  the Auditor's Report and Fraud have now been added.           
  • The Going Concern section now contains a list of options to choose from in framing your Auditor's Report.
  • The Auditor's Report section now contains a list of options to choose from in reaching your opinion.
  • We have included detailed Anti Money Laundering steps to be completed at the planning and completion stages, so that you can stay compliant with your AML procedures.
  • We have included suggested Lead Schedules.

Available as a download, in Microsoft Excel format.
Please note that the previous versions of this audit toolkit are no longer compliant and should not be used for 30 September 2016 audits or thereafter.

Once you have placed your order online, go into your My Account area on the website and open My courses & downloads.  Your toolkit will be available to download there. You have up to 90 days from the date of purchase to download your toolkit.

For more information, contact us at Practice Consulting at Tel: +353 1 6377300