ISA 620 (Revised) DEALS with the auditor’s responsibilities RELATING to the work of an individual or organization in a field of expertise OTHER than accounting or auditing, when that work is used to assist the ‘Auditor’ in obtaining sufficient appropriate audit evidence. ISA 620 (Revised) – Introduction 1. Scope of … Read More

ISA 580 (Revised and Redrafted) DEALS with the auditor’s responsibility to OBTAIN Written Representations from Management and where appropriate, those charged with governance in an ‘Audit‘ of Financial Statements. ISA 580 (Revised and Redrafted) – Introduction 1. Scope of this ISA It deals with the Auditor’s Responsibility to obtain ‘Written … Read More

ISA 570 (Revised) DEALS with the auditor’s responsibilities in the ‘Audit‘ of Financial Statements RELATING to going concern and the Implications for the auditor’s report. ISA 570 (Revised) – Introduction 1. Scope of this ISA It deals with the Auditor’s responsibilities in the audit of financial statements Relating to going … Read More

ISA 560 (Redrafted) DEALS with the auditor’s responsibilities RELATING to subsequent events in an ‘Audit‘ of Financial Statements. ISA 560 (Redrafted) – Introduction 1. Scope of this ISA It does NOT deal with Matters relating to the auditor’s responsibilities for ‘Other Information’ obtained after the date of the auditor’s report … Read More

ISA 550 (Revised) DEALS with the auditor’s responsibilities RELATING to related party relationships and transactions in an ‘Audit‘ of Financial Statements. ISA 550 (Revised) – Introduction 1. Scope of this ISA It EXPANDS on how ISA 315 (Revised), ISA 330 and ISA 240 are to be applied in relation to … Read More

ISA 540 (Revised) DEALS with the auditor’s responsibilities RELATING to Accounting Estimates and Related Disclosures in an ‘Audit‘ of Financial Statements. ISA 540 (Revised) – Introduction 1. Scope of this ISA It INCLUDES Requirements and Guidance that refer to or expand on how ISA 315 (Revised), ISA 330, ISA 450, … Read More

ISA 520 DEALS with the auditor’s USE of analytical procedures as substantive procedures (‘Substantive Analytical Procedures’). ISA 520 – Introduction 1. Scope of this ISA It also deals with the auditor’s responsibility to perform analytical procedures Near the end of the audit that assist the auditor when forming an overall … Read More

ISA 450 (Redrafted) DEALS with the auditor’s responsibility to EVALUATE the effect of identified Misstatements on the ‘Audit‘ and of uncorrected misstatements on the Financial Statements. ISA 450 (Redrafted) – Introduction 1. Scope of this ISA It deals with the auditor’s responsibility to evaluate the effect of identified Misstatements on … 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 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