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The Practitioner
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Then how about a clarified ISA?

Not tempted? No, I thought not. Which is the reaction I expect from my team.

The question was prompted by Adrian Gibbons' article in the ICAEW Audit Faculty's latest magazine. He's suggests audit firms set up an ISA book club - you choose one of the new clarified ISAs, everyone take a copy home and reads it and then you meet up a week later to discuss it. Like you would with a novel at a conventional book club. You could even make an evening of it with food and drinks (I added that bit myself)!

Joking aside, it's not a bad idea to make sure everyone is up to speed on the latest auditing standards. Some have changed, or have a new emphasis, and you can be sure audit quality reviews will be looking for deficiencies in those areas. But even so, it doesn't sound like a lot of fun!

Having an innate fear of rejection I am reluctant to suggest this to our audit team but I'd be interested to know if anyone else manages to do this successfully - by which I mean on more than one occasion, and without resorting to coercion!

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03rd Jul 2012 10:50

There would have to be food & drink and lots of it

I am afraid I am not one of these people who can be interested in audit rules although I admit that I can easily be fascinated by some tax issues.

Would you expect the staff to do this in their own time? What exactly would they discuss? There are no themes or charcters - just page after page of mostly irrelevant drudgery (although that could describe a great many popular books ).



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