CPA Ireland’s Audit Programmes (Clarified Audit Procedures) have been revised to reflect changes to IAASA’s
Ethical Standard for Auditors (Ireland) 2020 which become effective for audits of financial statements for periods beginning on or after 15 July 2021, with early adoption permitted.
Firms may complete engagements relating to periods commencing before 15 July 2021, in accordance with existing ethical standards (2017 standard), putting in place any necessary changes in the subsequent engagement period.
Engagements to provide previously non-prohibited non-audit services, entered into before 15 July 2021, and for which the firm has already commenced work may continue until completed in accordance with the original engagement terms, subject to the application of appropriate safeguards.
The main changes to the standards are summarised in IAASA’s feedback statement which can be accessed here.
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