Practical Audit Quality Considerations – Planning the Audit in the Pandemic Environment (webinar) - SUMMARY - AUDIT AND ASSURANCE

Module: Audit and Assurance



Practical Audit Quality Considerations – Planning the Audit in the Pandemic
Environment




Video: https://www.youtube.com/watch?v=MrtPn4Kypkk


David Isherwood – Webinar Chair, Chair of Forum of Firms, Partner, Audit Advisory,
BDO UK


Objective
 Highlight some of the key challenges to Audit Quality in both planning the
audit and ensuring ‘people wellness’ in the pandemic environment.

 Offer insights on practical considerations to help navigate those challenges.


Panellists:
 Fiona Campbell – Deputy Chair, International Auditing & Assurance
Standards Board & Partner, Assurance, Ernst & Young, Australia
 Kym Reilly – PKF International Limited [Member, Forum of Firms] & Partner,
Audit & Assurance, PKF Australia
 Alex Peal – Member, IFAC Small and Medium Practices Advisory Group &
Managing Partner at James Cowper Kreston, UK
 Laurie Tugman – Member, IFAC Professional Accountants in Business
Advisory Group & Corporate Director, Canada
 Dora Burzenski – Deloitte Touche Tohmatsu Limited [Member, Forum of
Firms] Managing Director, Deloitte LLP


Context
Things have changed really quickly in the first quarter of 2020. The change was so
quick and unprecedented that audit professionals started to lose some confidence of
their ability to form judgements and decisions.

There are lots of guidance and learning materials on the IFAC website to help audit
professionals navigate those new challenges. It includes how to work safely and all
aspects of accounting and auditing. Although the response to the guidance has been