Jim Pelletier, Managing Director, Institute of Internal Auditor’s American Center for Government Auditing and Vincent Tophoff, Senior Technical Manager, IFAC
With the increased volatility in the modern business environment and the recent financial and economic crises around the world, the effective management of risk in organizations—including good internal control—has taken on even greater importance. Effective risk management facilitates the achievement of an organization’s objectives, while complying with legal, regulatory, and societal expectations, and enables the organization to better respond and adapt to surprises and disruptions. IFAC, therefore, commends COSO on taking up the challenge to update its ERM Framework.
IAASB Acting Technical Director Beverley Bahlmann hosts the September 2016 audio podcast featuring Chairman Arnold Schilder and IAASB Members Fiona Campbell, Annette Köhler, Ron Salole, Rich Sharko, and Megan Zietsmanto discuss key activities and events from the board's September 19-23, 2016, meeting in Hong Kong.
0:00 to 0:49 Introduction
0:50 to 3:33 Chairman’s Overview
3:34 to 8:05 ISA 540
8:06 to 11:29 ISA 315 (Revised)
11:30 to 19:38 Enhancing Audit Quality - Group Audits and Quality Control
19:39 to 22:17 Professional Skepticism
22:18 to 22:34 2017-2018 Work Plan Consultation
22:35 to 24:46 Agreed-Upon Procedures
24:47 to 27:40 Changes in IAASB Members, Closing Remarks, and Next Meeting
Charles Tilley, Chair of the IFAC Professional Accountants in Business Committee and Executive Chairman of the CGMA Research Foundation, recently addressed how professional accountants in business and finance professionals can meet today's business challenges. Among other topics, Mr. Tilley addresses the evolution of the role of the CFO and the expectations of today's business enivronment.