With the increased volatility in the modern business environment and the recent financial and economic crises around the world, the effective management of risk in organizations—including good internal control—has taken on even greater importance. Effective risk management facilitates the achievement of an organization’s objectives, while complying with legal, regulatory, and societal expectations, and enables the organization to better respond and adapt to surprises and disruptions. IFAC, therefore, commends COSO on taking up the challenge to update its ERM Framework.

• 0:00 to 0:49 Introduction
• 0:50 to 3:33 Chairman’s Overview
• 3:34 to 8:05 ISA 540
• 8:06 to 11:29 ISA 315 (Revised)
• 11:30 to 19:38 Enhancing Audit Quality - Group Audits and Quality Control
• 19:39 to 22:17 Professional Skepticism
• 22:18 to 22:34 2017-2018 Work Plan Consultation
• 22:35 to 24:46 Agreed-Upon Procedures
• 24:47 to 27:40 Changes in IAASB Members, Closing Remarks, and Next Meeting

Charles Tilley, Chair of the IFAC Professional Accountants in Business Committee and Executive Chairman of the CGMA Research Foundation, recently addressed how professional accountants in business and finance professionals can meet today's business challenges. Among other topics, Mr. Tilley addresses the evolution of the role of the CFO and the expectations of today's business enivronment.

Highlights from the IESBA's September 26-30, 2016, meeting in New York, New York.

:10 - Introduction: Ken Siong, IESBA Technical Director

:46 - Opening remarks: Stavros Thomadakis, IESBA Chairman

4:36 - Safeguards: Sylvie Soulier, IESBA Member

8:50 - Structure of the IESBA Code: Don Thomson, Task Force Chair and former IESBA Member  

10:30 - Part C, Professional Accountants in Business: Helene Agélii, IESBA Member

13:54 - Long Association: Brian Caswell, IESBA Member

16:43 - Next meeting: Ken Siong, IESBA Technical Director