Changes to auditing and other IAASB guidance - part 1
In this Advanced Audit and Assurance lesson, you'll learn about key changes to IAASB auditing standards that directly affect how you approach group audits and emerging audit risks.
This lesson is part of a paid course
Buy the course to unlock every video lesson and the AI Tutor, plus mock exams with feedback on CIMA courses.
Already bought? Sign in
Ask the AI tutor anything about this lesson
It knows every lesson in the course — explanations, clarifications, practice questions.
In this lesson
- 0:00 Advanced Audit and Assurance overview
- 0:08 ISO 600 exposure draft on group audits
- 0:43 Key features of group audit standards
- 1:12 Professional scepticism and documentation requirements
- 1:57 Materiality, risk and control testing in groups
- 2:47 Significant and complex transactions guidance
- 4:53 Climate-related risks in financial audits
- 5:54 Climate change materiality and disclosures
About this lesson
The session covers three critical areas: the revised ISO 600 exposure draft on group financial statements (emphasising professional scepticism, documentation requirements, and component auditor coordination), IAASB guidance on auditing significant, unusual or complex transactions, and the growing importance of climate-related risks in financial statement audits. You'll understand why these changes matter for your exam and how to apply them when assessing audit evidence, identifying material misstatements, and ensuring compliance with current auditing standards across all audit scenarios.
Duration: 7m
Transcript
Every lesson comes with a full searchable transcript - included with the course.
Get the Advanced Audit and Assurance course
All 177 video lessons, an AI Tutor in every lesson and lifetime access.
Already bought? Sign in