ISA 260 (Revised) DEALS with the auditor’s responsibility to COMMUNICATE with those charged with governance in an ‘Audit‘ of Financial Statements. International Standard on Auditing Issued By IAASB (IFAC) Revised 2016 (Revised) Applies To All Audits of Financial Statements Related Standards ISA 265, ISA 700, ISA 705 Contents Overview Objectives … Read More
The objective of IFRS 10 is to establish principles for the Presentation andPreparation of Consolidated Financial Statements when an entity ‘controls’ oneor more other entities. IFRS Standards · Financial Reporting Issued: May 2011 Effective: 1 Jan 2013 Standard Body: IASB Supersedes: IAS 27 (2008) Contents 01 Overview & Objective 02 … 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. International Standard on Auditing Issued byIAASB / IFAC Effective DateDec 15, 2009 onwards Standard StatusRevised & Redrafted Related StandardsISA 315 … Read More
The ‘CORE PRINCIPLE’ of IFRS 8 is that an entity shall Disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environment(s) in which it operates. ↑ International Financial Reporting Standards IASB Standard … 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’. International Standards on Auditing Standard: ISA 330 Issued by: IAASB Applies to: All Audits Table of Contents What is ISA 330? Objective of ISA 330 Overall … Read More
The ‘OBJECTIVE’ of IFRS 7 is to Require entities to provide disclosures in their Financial Statements that enable users to evaluate: 📋 IFRS Standard IFRS 7 Financial Instruments:Disclosures Issued By IASB Effective Date 1 Jan 2007 Last Major Amendment 2023 Replaces IAS 30 & IAS 32 (part) In This Guide … Read More
ISA 510 DEALS with the Auditor’s responsibilities RELATING to Opening Balances in an ‘Initial Audit Engagement’. Home › Auditing Standards › ISA 510 International Standard on Auditing Table of Contents What Is ISA 510? Key Definitions Objective of ISA 510 Audit Procedures Accounting Policies & Consistency Reporting Implications Related ISAs … Read More
The ‘OBJECTIVE’ of IFRS 6 is to Specify the financial reporting for the Exploration for and Evaluation of Mineral Resources. International Financial Reporting Standard 6 Overview Scope Recognition Measurement Impairment Disclosure FAQ § 01 — Introduction What Is IFRS 6? IFRS 6, Exploration for and Evaluation of Mineral Resources, is … 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. International Standards on Auditing | IAASB Standard: ISA … Read More
The ‘OBJECTIVE’ of IFRS 5 is to specify the ‘Accounting’ for Assets Held for Sale and the ‘Presentation and Disclosure’ of Discontinued Operations. IASB Standard · Financial Reporting Issued byIASB Effective Date1 January 2005 ReplacesIAS 35 CategoryNon-current Assets Table of Contents 01Overview of IFRS 5 02Scope & Applicability 03Classification as … Read More