Mercia Masterclass: Preparing for a Monitoring Visit (ROI/NI)

Format

This course will be delivered via Zoom on 27 May 2025 from 9.30 am to 12.30 pm. The Zoom link will be emailed to participants the day before the course is due to take place.

Who should attend

This course is suited to anyone working in practice who is a Responsible Individual or prepares audit files for review.

Course overview

• Details of how monitoring visits work
• An overview of CAI monitoring reports
• Common problems with whole firm audit procedures - ISQM, CPD, IES 8, PII cover, cold file reviews, ACR's etc.
• Guidance on how to improve quality standards in problem areas, such as:
  • Planning the audit effectively and efficiently
  • ISA 315 - risk assessment procedures and identifying significant risks
  • ISA 240 - fraud risk assessment
  • Setting materiality
  • Documenting clients' entity and environment
  • Documenting systems, controls, ITGCs, WT tests
  • Setting sample sizes
• Field work testing - auditing difficult areas
  • Estimates, Provisions, valuations, WIP, contracts, revenue,
  • Group audits, directors' transactions and inter-company loans
• Completion evidence
  • PBSE
  • Going Concern
  • Letter of representation

Key Learning Outcomes

By the end of this course, participants will be able to:

• Implement best practice and procedures to ensure the optimal chance of a successful outcome from a future monitoring visit.

Speaker Bio's

Kathryn Burns - Kathryn has been working for Mercia Ireland since 2008. She is an associate member of the Institute of Chartered Accountants in Ireland. She trained in the audit department of Crowe in Dublin and spent a further two years working in the Corporate Finance department of FGS (now part of Grant Thornton), following which she worked as a technical executive with the Institute of Certified Public Accountants (ICPA). Kathryn's role in Mercia involves conducting file reviews and compliance reviews for accountancy practices throughout Ireland. She is also responsible for lecturing from Induction level to CPD level on audit and accounting topics for Mercia clients. She also advises clients using Mercia's Technical Queries service and develops content for Mercia's audit methodology and technical products.

Contact us

If you have any questions regarding this or any other CPD course or requirements, please feel free to contact the team here or call us at (+353) 01 523 3930