IFRS Auditing Inquiry
Hello everyone,
I’m looking for a manual or guide specifically for auditing IFRS Accounting standards, particularly IFRS 16. However, I’d be interested in any examples or resources related to auditing IFRS standards in general.
Thank you in advance for your help!
One response
Hi there!
There isn’t a single comprehensive manual specifically for auditing IFRS standards like IFRS 16, but there are several resources and guidelines that can help you understand the auditing process for IFRS. Here are some suggestions:
IFRS 16 Lease Accounting: Familiarize yourself with the standard itself. The International Accounting Standards Board (IASB) publishes the full text of IFRS standards on their website, which provides a detailed understanding of the criteria.
Auditing Standards: Look into the International Standards on Auditing (ISA) as they provide a framework for auditing financial reports that comply with IFRS. ASA 700, for instance, deals with forming an opinion and reporting on financial statements.
Guidelines from Professional Bodies: Organizations such as the International Federation of Accountants (IFAC) and local Accounting bodies often publish guidance on auditing IFRS standards, including practical examples.
Audit Firms’ Resources: Major Audit firms, such as Deloitte, PwC, KPMG, and EY, publish handbooks and guides on auditing specific IFRS standards. These documents often include real-life examples and Audit methodologies, which can be very helpful.
Workshops and Webinars: Consider attending workshops or webinars that focus on auditing IFRS. This can provide you with insights and practical examples directly from industry professionals.
Textbooks and Academic Publications: There are a variety of textbooks dedicated to IFRS and their auditing which can provide thorough explanations and case studies.
Online Forums/Communities: Engaging with professionals in Accounting forums or platforms like LinkedIn can lead to shared resources and experiences that might be beneficial.
If you’re looking for a specific example of how to audit lease accounting under IFRS 16, it might be helpful to look for case studies or practical guides published by the sources mentioned above.
Let me know if you need more specific information or resources!
Best of luck!