Jhanzayb (ACA)

ISA 300 DEALS with the auditor’s responsibility to PLAN an ‘Audit‘ of Financial Statements. ISA 300 – Introduction 1. Scope of this ISA It is written in the context of ‘Recurring Audits’. Additional considerations in an initial audit engagement are SEPARATELY identified. 2. Effective Date This ISA is EFFECTIVE for … Read More

ISA 265 DEALS with the auditor’s responsibility to COMMUNICATE appropriately to those charged with governance and Management deficiencies in internal control that the auditor has identified in an ‘Audit’ of Financial Statements. ISA 265 – Introduction 1. Scope of this ISA It does NOT Impose ‘Additional Responsibilities‘ on the auditor … 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 (Revised) – Introduction 1. Scope of this ISA It does NOT establish Requirements regarding the auditor’s communication with an entity’s Management or owners unless they are also … Read More

ISA 250 DEALS with the auditor’s responsibility to CONSIDER laws and regulations in an ‘Audit‘ of Financial Statements. ISA 250 – Introduction 1. Scope of this ISA It does NOT apply to Other Assurance Engagements in which the auditor is specifically engaged to test and report separately on compliance with … Read More

ISA 240 (Redrafted) DEALS with the auditor’s responsibilities relating to FRAUD in an ‘Audit‘ of Financial Statements. ISA 240 (Redrafted) – Introduction 1. Scope of this ISA ISA 240 EXPANDS on how ISA 315 and ISA 210 are to be applied in relation to Risks of Material Misstatement due to … Read More

ISA 230 DEALS with the auditor’s responsibility to PREPARE audit documentation for an ‘Audit‘ of Financial Statements. ISA 230 – Introduction 1. Scope of this ISA The specific documentation Requirements of other ISAs do NOT limit the application of this ISA. Law or regulation May establish additional documentation Requirements. 2. … Read More

ISA 220 (Revised) DEALS with the SPECIFIC responsibilities of the auditor regarding ‘Quality Management‘ for an Audit of Financial Statements. ISA 220 (Revised) – Introduction 1. Scope of this ISA It also addresses where applicable the responsibilities of the ‘Engagement Quality Control Reviewer‘. This ISA is to be read in … Read More

ISA 210 DEALS with the Auditor’s responsibilities in AGREEING the terms of the audit engagement with Management and where appropriate those charged with governance. ISA 210 – Introduction 1. Scope of this ISA It deals with ESTABLISHING certain preconditions for an audit, responsibility for which rests with Management and where … 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 – Introduction 1. Scope of this ISA It sets out the OVERALL objectives of the Independent Auditor, and explains the Nature and Scope of an audit designed to … Read More