24th September 2025

TIMING

COURSE CODE

SE24A5

SPEAKER

Ralph Tiffin

OBJECTIVES

Most auditors and accountants are sceptical by nature. We understand the cultures of and pressures on clients to take the most favourable view of subjective numbers. We challenge them, may disagree and in extreme cases will qualify the audit report.

Being professional today means following rules. Arriving at an opinion requires a clear record of our thinking for inspection and approval. 

We live in a world of regulation. We have terms such as: “comply with regulatory guidance,” “mandatory guidance” and “The Practice Statement is a non-mandatory document. It does not change or introduce any requirements.” Even if we arrive at the correct opinion, mere thinking is not enough – we have to follow processes with audit files “evidence based.” The ISAs, FRC and other papers demand judgements demonstrated by recording our thoughts and actions.

• To assist in understanding the rules in auditing and other standards regarding scepticism
• To be aware of what guidance exists and how to arrive at sound judgements
• To consider how AI may replace much thinking.

CONTENT

• To understand just what being sceptical may mean.
• To review where judgement may be required as highlighted in many ISA’s and accounting standards.
• To understand the work required in making judgements – our clients’ and our own.
• To review the guidance for auditors when making judgements.
• To consider how AI can improve the processes.

WHO SHOULD ATTEND?

Auditors and accountants who audit, prepare and review financial statements, particularly statements with subjective numbers. Directors who are responsible for their numbers.

TOPICS

Subjectivity – when and what judgement is required? Obvious areas include:

Several ISA's and the underlying sections of FRS 102 cover potentially highly subjective amounts found in financial statements. Very obvious areas include:

• Valuations – “fair” values
• Provisions
• Impairments
• Revenue recognition

How sceptical should we be? That auditors are not sceptical enough is a continuing theme. Once we have tested clients’ and our judgments we have to “stand back” - we should review how critical or sceptical we (and our clients) have been.

The need for thoughtful and documented judgements

This session aims to focus on what MUST be done to ensure compliance with the requirements of the ISAs and contemporary demands.

How may AI help

VENUE

This course will be available live online. You will be emailed the link to join two days before the course date.

DISTRICT

All

COURSE FEE

£105+VAT. (click here for information on the Flexiticket discount scheme - fees as low as £62.00+VAT per place).