The next event organised by the HKICPA ForensIG will be a panel discussion held on 22 January, 2021, at which experienced forensic, audit and legal practitioners, will consider the International Auditing and Assurance Standards Board (IAASB)’s recently-issued discussion paper on issues and challenges relating to the gap between what users of the financial statements expect and the realities of the financial statement audit.
The discussion will cover:
- What are possible ways to narrow the gap?
- Should forensic accountants be engaged to help narrow the expectation gap and would there be any potential implications for auditors’ liability?
- Should more communication and education be directed at shareholders/ investors? Should they even be engaged during the audit planning stage?
- Should the current standards/ regulations be amended?
- Introduction of the paper
- Elements of the audit expectation gap, including the knowledge gap, in terms of the expected role of auditors, the performance gap between work done and requirements, and the evolution gap, i.e., how audit needs to continue to develop.
- Which parties should assume responsibilities regarding fraud and going concern? Management, audit committees, auditors or regulators?
Online enrollment will be closed by 19 January 2021 and event details as below:
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Paul Lau
Chair, Auditing and Assurance Standards Committee, and Head of Professional Practice and Capital Markets, KPMG
Stephen Law
Council Member of Hong Kong Independent Non-Executive Director Association & the Chairman of its Corporate Governance Committee
Desmond CL Yu
Partner, Dispute Resolution and Regulatory, MinterEllison
Chris Fordham
Member, ForensIG Management Committee, and Managing Director, Disputes and Investigations, Alvarez & Marsal
More to come……
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Guy Norman
Convenor, ForensIG Management Committee, and Partner, Forensic & Dispute Services, Deloitte & Touche Financial Advisory Services
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After successful registration, the meeting URL and login password will be provided nearer the event date.
For the latest advice, guidance and other updates, from the Institute, regulators and other bodies, please visit our regularly-updated COVID-19 – CPA Information Centre webpage.
Please see the event flyer for further details and registration.
ACFE members can enjoy discounted rate.
