The completion stage of the audit is when the auditor reviews the work performed and considers the implications for the auditor’s report. A crucial part of this review is the evaluation of misstatements found during the audit. This podcast discusses the requirements of ISA 450, Evaluation of Misstatements Identified during the Audit, and provides some examples of the application of the ISA in the context of the Advanced Audit and Assurance exam.

P7: Evaluation of misstatements

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This topic is covered in the Strategic Business Leader syllabus. The purpose of this podcast is to introduce this topic and give some pointers as to what the important themes are in terms of teaching and learning.

Episode 167: Public sector governance

This two-part podcast aims to give clarity on the level of response that is required in a APM answer. It will address a specific past exam question that caused considerable difficulty in the March 2021 session. This episode follows on from the first part, which gave examples of weak answers, and this one will discuss two possible pass standard solutions to this question.

Episode 166: Improving your Advanced Performance Management answers – part 2

This two-part podcast aims to give clarity on the level of response that is required in a APM answer. It will address a specific past exam question that caused considerable difficulty in the March 2021 session. This part will present and discuss two possible poor solutions to this question.

Episode 165: Improving your Advanced Performance Management answers – part 1

This podcast focuses on assertions as identified by ISA 315 (Revised 2019) and also provides useful guidance to candidates on how to tackle questions dealing with these.

Episode 164: The audit of assertions

The board of directors forms one of the pillars of a robust corporate governance framework. Recent academic literature suggests that one of the ways to enhance corporate governance, arguably, is to diversify the board and this is included in the Strategic Business Leader syllabus. This podcast explores the concept of board diversity and how it may benefit the organisation, as well as the possible costs of board diversity and the current regulatory initiatives that apply to it. 

P7: Evaluation of misstatements

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