Description

This is a brand new version one of our top selling products, the Example Audit File and will be available from September 2024. In response to increased expectations from Regulators and the many additional requirements from recent revisions to ISAs. It is our most comprehensive and detailed product to date.

This product has been produced to provide practical guidance on the application of the International Standards on Auditing (ISAs) and the use of the latest PCP audit programme (Version 10). Our objective is not to produce a model file which is perfect in theory, but rather to provide a practical example of what a file which is compliant with the ISAs might look like. The product covers the Clarified International Standards of Auditing. This is the September 2024 version of this example file and changes from the previous version issued in September 2021 include ISA 315 revised Identifying and Assessing the Risks of Material Misstatement and ISA 220 revised Quality Management for an Audit of Financial Statements and consequential adjustments to other ISAs arising from the implementation of ISA 315 revised and ISQM 1.

This product is not designed to be used as a template and should not be used for this purpose. It is designed to be used as a training tool to help explain the level of detail required to comply with ISAs and to provide suggestions for setting out audit working papers.

The product is not specific to any one particular country and has been based on a fictional company in the hospitality sector in a fictional country. The company has turnover in the region of €6.6 million and gross assets in the region of €3 million. It can be used as a training tool for practices anywhere in the world and is not restricted to users of the PCP audit programme.

The product comprises an example set of financial statements (produced under IFRS), an example Permanent Audit File and an example Current Audit File produced using ISAs. The programme is an extensive document and shows how individual audit tests might be set out.

The product is available via web log in and can be used globally. On purchase you  will be sent an e mail which will allow you access to view and download the product at www.pcpproducts.com