How do your skills measure up?

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The skills and abilities to perform activities to a defined standard, while maintaining the highest standards of integrity, independence and scepticism.

Audit and assurance

Do you have the audit and assurance and advisory competencies and knowledge that a professional accountant will need in the future? Take our test to find out.

  1. I think and behave with integrity, independence and professional scepticism. Using my intelligence and professional judgement to assess the accuracy of information, I seek corroboration through inquiry and critical thinking analysing outcomes and considering alternatives.

  2. I am aware of local and international laws, regulations and standards and know how to apply them. These include International Standards on Auditing (ISAs) and IAASB’s framework for audit quality, ethical guidelines, company laws, and data protection regulations. These cover engagements for auditing and providing assurance on historical financial statements and related work.

  3. Emotional intelligence and experience help me manage a range of relationships in and outside the firm, including with the audit team, the clients’ management and audit committees and other stakeholders.

  4. In a leadership role I am competent at managing people, processes and resources efficiently and cost-effectively. This includes training, coaching and mentoring staff. I evaluate whether the team has the objectivity and competence to perform a quality audit.

  5. Working in an increasingly complex business and control environment, I respond through using data analytics and other tools to assess the risk of material misstatement due to fraud and error. My Digital Quotient will prompt awareness and review of risks – such as cybersecurity – arising from digitisation and I implement suitable tests.

  6. I also use data analytics to inform audit risk assessments of market, competition, product technology and environmental factors. I actively seek out opportunities to increase my knowledge of audit, industry sectors and wider global issues. When facing complex challenges, I find advice and different opinions from colleagues and external experts.

  7. Using emerging frameworks, I promote corporate social responsibility (CSR) reports and a model of integrated reporting (IR), this requires my use of digital technologies for communication. Disclosures in auditors’ reports and integrated reports should be fit for purpose, informative, clear and concise and I evaluate these to ensure they are useful and meaningful.

  8. Stakeholders can have confidence in assurance processes by the way I perform assignments, including my evaluation of the fair presentation of financial statements bearing in mind the nature of the entity, its ability to continue as a going concern and its operating environment.