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News from the BAFA Auditing SIG

In May 2020, amidst the Covid-19 crisis, BAFA’s Auditing Special Interest Group (ASIG) hosted the first-ever virtual Audit & Assurance Conference. The successful two-day event attracted over 80 participants from the UK and a wide variety of geographical locations around the world, such as Australia, USA, South Africa, Malaysia, Brazil, and many countries from Europe.

The annual Audit & Assurance Conference is an opportunity not only to meet and share academic research, but also for discussion with representatives from the accounting and auditing profession. We have frequently welcomed high profile contributors from organisations such as the FRC, ICAEW, ICAS, audit firms and many private and public sector businesses. This year’s programme also included Sir Donald Brydon, who discussed and answered questions on his review into the quality and effectiveness of audit, and Paul Druckman, chairman of an insurance broker company, on the assurance of non-financial reporting. Steve Maslin, an audit committee member, discussed the challenges that audit committees face during the Covid-19 pandemic. Marc Babington from FRC reflected on regulation in an uncertain world. Other key note speakers, such James Barbour from ICAS and Sophie Campkin from ICAEW, focused on the effects of Covid-19 on audit, for example on the going concern opinion. The high quality of contributors and interest in the topics was a key motivator in moving the conference online.

The original plan for a two-day event in Edinburgh was replaced with a virtual programme, held over two afternoons. Ably marshalled by ASIG chair, ilias Basioudis, each day started at 1pm with a key note address, followed by short 15 minute slots for academic presentations, and ended with another key note speaker. There was ample opportunity for questions and discussion, and sessions were interspersed with opportunities to mingle in virtual break out rooms.

Feedback has been extremely positive. Reworking our plans has allowed academics to present and receive feedback on their research, and for our dialogue with the profession to continue, despite travel restrictions.

More online virtual auditing and assurance seminars with high profile non-academic speakers will be organised during the next few months. 

We hope to be able to meet in person next year but are considering arranging virtual seminars during the year. You can keep up with our events on the website.