Event Information

COVID-19 has caused significant disruption within the entertainment, sport and media industry with many businesses having to close their doors owing to lockdown restrictions.

Despite the financial support offered by the government many face the uncertainty regarding their ability to continue as a going concern. Also, with changes to the international standard on auditing this area (ISA 570) for December year ends onwards, the obligations on directors will be higher than ever. The webinar will also cover a second significant change to auditing standards, ISA 540 on accounting estimates with more rigour being expected on auditors in this area.

In this webinar Tom Wilson, Partner, HaysmacIntyre LLP & Tom Stock, Audit Technical Director, HaysmacIntyre will outline what you need to considering. Some of the topics covered will include:

• Introduction of why going concern will continue to be an important topic.
•  Impact of COVID-19 and what we have learnt.
• Directors responsibilities
• Cashflow forecasting and scenario planning.
• Auditors responsibilities and the new ISA, ISA 570 on GC mandatory for 31 December 20 year ends onwards.
•  Instructions to the revised ISA 540 on accounting estimates
• Examples of how this may impact the SME sector

With such a comprehensive list to explore this webinar will undoubtedly benefit those who are responsible for ensuring a smooth audit process in their organisations in the sector.

We will also provide an opportunity to have your questions answered at the end of the webinar.

Key benefits

The event will explore auditing standards changes and the impact on the sector. One of these is going concern (ISA 570) and resilience issues for financial reporting and audit particularly considering the COVID-19 crisis. Aimed primarily at non-public interest entities, including small and medium-sized entities, the event will provide accountants with insights to help improve how they plan for and mitigate against relevant risks, and how they assess going concern and resilience in future. The event will also cover a second significant change to ISA 540 over accounting estimates.

• Hear from the industry experts about auditing standards changes and their impact
• Demystifying confusing aspects of these areas
• Opportunity to ask questions

About the speaker(s)

Tom Wilson, Partner, HaysmacIntyre

Tom was appointed Partner at HaysmacIntyre LLP in October 2017 having worked his way through the ranks since joining Haysmacintyre as a trainee in 2008.
Tom has a specific knowledge of national governing bodies of sport and regularly presents at our seminars for this group. He prepares our detailed annual national governing bodies of sport benchmarking report, providing insights and advice to individual participants and commentary regarding emerging trends and developments for the sector as a whole. He is a member of the Sport, Entertainment and Media committee at the ICAEW and contributes to the committee through his knowledge and experience of the sport sector and NGBs. Tom was 18th in the Accountancy Age 35 under 35 2019 rankings.
His delivery is focused on statutory audit and accountancy, but additionally Tom provides advice on financial system and internal controls reviews, as well as financial best practice and governance matters.

Tom Stock, Audit Technical Director, HaysmacIntyre

Tom joined Haysmacintyre in 2009 from a top ten audit firm, after qualifying as a Chartered Accountant in 2004. As a corporate specialist, Tom manages audits and financial reporting assignments and is involved in financial due diligence projects. His audit clients operate internationally and in a variety of industries, but his particular specialisms are in the property, technology and financial services sectors. Tom is a member of the firm’s Property team.
Tom is also a member of the firm’s Technical team and advises clients and colleagues on technical auditing and financial reporting issues. This role sees him attend Financial Reporting Council (FRC) and Institute of Chartered Accountants in England and Wales (ICAEW) seminars and other technical courses. He writes technical guidance and articles for Haysmacintyre.

Costs

ICAEW members and non-members are welcome to join. To attend the webinar, you must join the community. Please click here to join online.