New Auditing Standards ISA 240 (Fraud) & ISA 570 (Going Concern) – What Auditors Must Know Before 2027

In response to evolving expectations for audit quality and corporate transparency, the International Auditing and Assurance Standards Board (IAASB) has finalised major revisions to two foundational auditing standards: ISA 240 (The Auditor’s Responsibilities Relating to Fraud) and ISA 570 (Going Concern). Both revised standards are effective for audits of financial statements for periods beginning on or after 15 December 2026. This webinar unpacks these important updates and explains their practical implications for audit teams. We explore how the revised ISA 240 strengthens auditor responsibilities relating to fraud risk — requiring a sharper “fraud lens,” reinforced professional skepticism, clearer responses to identified risks, and improved communication with management and those charged with governance (TCWG). We will also dive into the updated ISA 570 (Revised 2024), which enhances the auditor’s work on going concern — including more robust risk assessments, expanded evaluation of management’s judgements and assumptions, and clearer communication in audit reports regarding going concern matters. Designed for auditors, audit seniors and managers, this session will provide practical guidance on what has changed, why it matters, and how to prepare your audit teams and methodologies ahead of the 2026 effective date.

In completing this learning engagement, you will have developed the following professional competencies indicated in the green section below: