The ‘OBJECTIVE’ of IFRS 2 is to Specify the ‘financial reporting’ by an entity when it undertakes a share‑based payment transaction. In particular, it requires an entity to reflect in its profit or loss and financial position the effects of share‑based payment transactions, INCLUDING expenses associated with transactions in which … Read More
The ‘OBJECTIVE’ of IFRS 1 is to Ensure that an Entity’s first IFRS financial statements, and its Interim financial reports for part of the period covered by those ‘Financial Statements‘, contain high quality information. IFRS 1: First-Time Adoption of International Financial Reporting Standards — Complete Guide International Financial Reporting Standards … Read More
ISA 805 (Revised) DEALS with Special Considerations in the APPLICATION of ISAs 100-700 to an audit of a ‘Single Financial Statement’ or of a ‘Specific Element’, ‘Account’ or ‘Item’ of a Financial Statement. ISA 805 – Special Considerations: Audits of Single Financial Statements and Specific Elements | Complete Guide International … Read More
ISA 505 (Revised) DEALS with the auditor’s use of external confirmation procedures to OBTAIN audit evidence in accordance with the Requirements of ISA 330 and ISA 500. ISA 505 – External Confirmations: Complete Guide for Auditors International Standard on Auditing Standard ISA 505 Issued By IAASB / IFAC Topic External … Read More
ISA 260 (Revised) DEALS with the auditor’s responsibility to COMMUNICATE with those charged with governance in an ‘Audit‘ of Financial Statements. ISA 260 – Communication with Those Charged with Governance | Complete Guide International Standard on Auditing Issued By IAASB (IFAC) Revised 2016 (Revised) Applies To All Audits of Financial … Read More
ISA 402 (Revised and Redrafted) DEALS with the user auditor’s responsibility to obtain SUFFICIENT appropriate audit evidence when a ‘User Entity’ uses the services of one or More service organizations. ISA 402 – Audit Considerations Relating to an Entity Using a Service Organization | Complete Guide International Standard on Auditing … Read More
ISA 330 DEALS with the auditor’s responsibility to DESIGN and IMPLEMENT responses to the risks of Material Misstatement identified and assessed by the ‘Auditor‘. ISA 330 – The Auditor’s Responses to Assessed Risks | Complete Guide International Standards on Auditing Standard: ISA 330 Issued by: IAASB Applies to: All Audits … Read More
ISA 510 DEALS with the Auditor’s responsibilities RELATING to Opening Balances in an ‘Initial Audit Engagement’. ISA 510 – Initial Audit Engagements and Opening Balances: Complete Guide Home › Auditing Standards › ISA 510 International Standard on Auditing Table of Contents What Is ISA 510? Key Definitions Objective of ISA … Read More
ISA 705 (Revised) DEALS with the auditor’s responsibility to ISSUE an appropriate report in circumstances when in forming an opinion in accordance with ISA 700 (Revised), the Auditor concludes that a MODIFICATION to the auditor’s opinion on the Financial Statements is necessary. ISA 705 (Revised) – Modifications to the Opinion … Read More
ISA 200 DEALS with the Independent Auditor’s overall responsibilities when conducting an ‘Audit‘ of Financial Statements in accordance with ISAs. ISA 200: Overall Objectives of the Independent Auditor – Complete Guide International Standards on Auditing Issued by IAASB Effective: Dec 15, 2009 Revised: Ongoing Table of Contents What Is ISA … Read More