International Auditing and Assurance Standards Board (IAASB) Issues:

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Presentation transcript:

Standards Issued by the International Auditing and Assurance Standards Board

International Auditing and Assurance Standards Board (IAASB) Issues: International Standards on Auditing (ISAs) as the standards to be applied by auditors in reporting on historical financial information. International Standards on Assurance Engagements (ISAEs) as the standards to be applied by practitioners in assurance engagements dealing with information other than historical financial information International Standards on Quality Control (ISQCs) as the standards to be applied for all services falling under the Standards of the IAASB, and International Standards on Related Services (ISRSs) as the standards to be applied on related services, as it considers appropriate International Standards on Review Engagements (ISREs) as the standards to be applied to the review of historical financial information. P 6 – 7; see http://ifac.org/Guidance/

ISAs 100-999 International Standards on Auditing (ISAs) 100-199 Introductory Matters 120 Framework of International Standards on Auditing 200-299 General Principles And Responsibilities 200 Objective and General Principles Governing an Audit of Financial Statements 210 Terms of Audit Engagements 220 Quality Control for Audit Work 230 Documentation (ED) Illustration 1.1 List of 2004 International Standards on Auditing pages 8-9

ISAs 240 The Auditor’s Responsibility to Consider Fraud and Error in an Audit of Financial Statements (ED) 250 Consideration of Laws and Regulations in an Audit of Financial Statements 260 The Auditor’s Communication with Those Charged with Governance (ED - Final) 300-499 Risk Assessment And Response To Assessed Risks 300 Planning (ED) 310 Knowledge of the Business 315 Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (ED) 320 Materiality in the Identification and Evaluation of Misstatements (ED final) 330 The Auditor’s Procedures in Response to Assessed Risks (ED) Illustration 1.1 List of 2004 International Standards on Auditing pages 8-9

ISAs 400 Risk Assessments and Internal Control 401 Auditing in a Computer Information Systems Environment 402 Audit Considerations Relating to Entities Using Service Organizations 500-599 Audit Evidence 500 Audit Evidence 500R Audit Evidence 501 Audit Evidence—Additional Considerations for Specific Items 505 External Confirmations Illustration 1.1 List of 2004 International Standards on Auditing pages 8-9

ISAs 510 Initial Engagements—Opening Balances 520 Analytical Procedures 530 Audit Sampling and Other Selective Testing Procedures 540 Auditing Accounting Estimates and Related Disclosures (Other than Those Involving Fair Value Measurements and Disclosures) (ED- final) 545 Auditing Fair Value Measurements and Disclosures 550 Related Parties (ED) 560 Subsequent Events 570 Going Concern 580 Management Representations Illustration 1.1 List of 2004 International Standards on Auditing pages 8-9

ISAs 600-699 Using Work Of Others 600 The Audit of Group Financial Statements (ED final) 610 Considering the Work of Internal Auditing 620 Using the Work of an Expert 700-799 Audit Conclusions And Reporting 700 The Auditor’s Report on Financial Statements 701 The Independent Auditor’s Report on Other Historical Financial Information (ED final - new) 705 Modifications to the Opinion in the Independent Auditor’s Report (ED final - new) 706 Emphasis of Matter Paragraphs and Other Matters Paragraphs in the Independent Auditor’s Report (ED final - new) 710 Comparatives 720 Other Information in Documents Containing Audited Financial Statements 800-899 Specialized Areas 800 The Independent Auditor’s Report on Summary Audited Financial Statements (ED final) Illustration 1.1 List of 2004 International Standards on Auditing pages 8-9

2000-2699 International Standards on Review Engagements (ISREs) 2400 Engagements to Review Financial Statements (Previously ISA 910) 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity (ED - new) 3000-3699 International Standards on Assurance Engagements (ISAEs) 3000 Assurance Engagements (Previously ISAE 100) 3000R Assurance Engagements Other Than Audits or Reviews of Historical Financial Information 3400 The Examination of Prospective Financial Information (Previously ISA 810) 4000-4699 International Standards on Related Services (ISRSs) 4400 Engagements to Perform Agreed-upon Procedures Regarding Financial Information (Previously ISA 920) 4410 Engagements to Compile Financial Information (Previously ISA 930) ISRE ISAE Illustration 1.1 List of 2004 International Standards on Auditing pages 8-9 ISRS