The most common issues identified during audit monitoring visits
ACCA’s Practice Monitoring team has shared a snapshot of the most common issues identified during audit monitoring visits. We are doing this to help your firm achieve and maintain a satisfactory standard of auditing.
Firms must ensure they achieve and maintain a satisfactory standard of audit work. In order to do this, firms need to show that they have carried out their audits substantially in accordance with auditing standards.
In particular, each audit file should show that the firm has obtained sufficient audit evidence for the key areas of the audit to support the audit opinion issued.
The ACCA compliance team have identified various common issues during recent audit monitoring visits – our advice is to read these and consider them in conjunction with your firm’s audit procedures.
Visit our Practice Monitoring Hub to download the common issues report.