Mastering the International Standards on Auditing (ISAs): Strengthening Audit Quality

#AuditQuality #ISAs #ProfessionalDevelopment Mastering the International Standards on Auditing (ISAs): Strengthening Audit Quality and Professional Competence Mastering the International Standards on Auditing (ISAs) is critical for auditors, CPAs, and financial professionals striving to elevate audit quality, ensure regulatory compliance, and maintain public trust. Presented by Mark Niño H. Ilano, CPA, and MGM Learning Academy, this session is designed to guide practitioners through the end-to-end ISA audit cycle, risk-first methodologies, robust documentation standards, and the latest international and local auditing updates. Join us as we explore the foundational principles of ISA 200, the six author-created quality anchors (Judgment, Skepticism, Materiality, Evidence, Documentation, and Communication), and practical frameworks for responding to risk, evaluating estimates, and enforcing firm-wide quality management. 🔍 What you'll learn: Navigating the complete ISA Audit Cycle from acceptance and planning through risk assessment, response, evidence evaluation, concluding, and reporting Applying ISA 315 (Revised 2019) to identify and assess risks of material misstatement at both financial statement and assertion levels, connecting risk directly to assertion-level audit responses Designing tailored substantive procedures, tests of controls, and overall responses under ISA 330 to address assessed and significant risks effectively Evaluating audit evidence quality under ISA 500, prioritizing external, direct, original, and independent data while actively investigating contradictory evidence Establishing planning materiality, performance materiality, and clearly trivial thresholds under ISA 320 and ISA 450, incorporating qualitative factors and reassessments when circumstances change Auditing complex accounting estimates and disclosures under ISA 540 (Revised) by challenging management assumptions, testing underlying data, and developing independent point estimates or ranges Preparing for revised standards like ISA 240 (Revised) for fraud and ISA 570 (Revised 2024) for going concern (effective for periods beginning on/after Dec. 15, 2026), including local Philippine adoption via BOA Resolution No. 03, s. 2026 Managing group audit engagements under ISA 600 (Revised), ensuring direct group team involvement, two-way communication, and proper evaluation of component auditors Implementing system-wide quality controls across firm and engagement levels through the integrated framework of ISQM 1, ISQM 2, and ISA 220 Crafting audit documentation under ISA 230 that seamlessly connects decisions, risks, assertions, procedures, evidence, and conclusions while fully resolving reviewer comments Leveraging audit technology and data analytics safely while maintaining professional skepticism and critical human judgment over AI outputs Cultivating the "Five Habits of a High-Quality Auditor": thinking risk-first, challenging evidence, documenting judgment, escalating early, and committing to continuous learning This session will equip you with the essential skills, judgment frameworks, and technical updates needed to perform high-quality audits that withstand regulatory scrutiny and deliver meaningful value to stakeholders. 📌 Don't forget to like, share, and subscribe to our channel for continuous updates on auditing standards, accounting practices, and professional learning sessions! Disclaimer: This webinar is intended for educational and professional development purposes only. All materials, including presentations, visuals, and examples, are the property of their respective owners. No copyright infringement is intended. #AuditQuality #ISAs #CPAPhilippines #AccountingPH #AuditingStandards #MGMLearningAcademy #ExternalAudit #ISQM #ContinuousLearning