• Mercial Blog Audit File Issues

    Audit file issues – sampling

    Mercia carries out hot and cold audit file reviews for a significant number of firms and there are often themes or audit areas which we observe as part of those reviews which cause firms difficulty.  Sampling is an area which regularly generates comments.

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  • Mercia Blog Audit File Reviews Tangible Fixed Assets

    Audit file issues – tangible fixed assets

    Mercia carries out hot and cold audit file reviews for a significant number of firms and there are often themes or audit areas which we observe as part of those reviews which cause firms difficulty. Fixed assets is one of those areas particularly verifying existence.

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  • Mercia Blog - Audit File Issues

    Audit file issues – group audits and component auditors

    Mercia carries out hot and cold audit file reviews for a significant number of firms and there are often themes or audit areas which we observe as part of those reviews which cause firms difficulty. One such issue concerns group audits and, in particular, reliance on the work of component auditors. Background ISA 600 sets […]

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  • Mercial Blog Audit File Issues

    Audit file issues – Loan covenants

    Mercia carries out hot and cold audit file reviews for a significant number of firms and there are often recurring themes which are observed as part of those reviews.  One such issue concerns loan covenants.

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  • Mercia Blog Audit File Review

    Why have your audit files reviewed?

    People often say ask me why would anyone ever volunteer to have one of their audit files reviewed. Why would you put yourself through the stress just for somebody to be able to tell you that you “could do better”?

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