{"id":4852,"date":"2021-04-15T13:35:30","date_gmt":"2021-04-15T13:35:30","guid":{"rendered":"https:\/\/montaudit.me\/msr\/"},"modified":"2024-03-13T14:46:45","modified_gmt":"2024-03-13T14:46:45","slug":"international-standards-on-auditing","status":"publish","type":"page","link":"https:\/\/montaudit.me\/en\/international-standards-on-auditing\/","title":{"rendered":"International Standards on Auditing"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column]<style type=\"text\/css\" data-type=\"the7_shortcodes-inline-css\">.shortcode-single-image-wrap.shortcode-single-image-313c7095a3a5bff7364225c8199df29d.enable-bg-rollover .rollover i,\n.shortcode-single-image-wrap.shortcode-single-image-313c7095a3a5bff7364225c8199df29d.enable-bg-rollover .rollover-video i {\n  background: -webkit-linear-gradient();\n  background: linear-gradient();\n}\n.shortcode-single-image-wrap.shortcode-single-image-313c7095a3a5bff7364225c8199df29d .rollover-icon {\n  font-size: 32px;\n  color: #ffffff;\n  min-width: 44px;\n  min-height: 44px;\n  line-height: 44px;\n  border-radius: 100px;\n  border-style: solid;\n  border-width: 0px;\n}\n.dt-icon-bg-on.shortcode-single-image-wrap.shortcode-single-image-313c7095a3a5bff7364225c8199df29d .rollover-icon {\n  background: rgba(255,255,255,0.3);\n  box-shadow: none;\n}\n<\/style><div class=\"shortcode-single-image-wrap shortcode-single-image-313c7095a3a5bff7364225c8199df29d alignnone  enable-bg-rollover dt-icon-bg-off\" style=\"margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px; width:1000px;\"><div class=\"shortcode-single-image\"><div class=\"fancy-media-wrap  layzr-bg\" style=\"\"><img fetchpriority=\"high\" decoding=\"async\" class=\"preload-me lazy-load aspect\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D&#39;http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg&#39;%20viewBox%3D&#39;0%200%201000%20552&#39;%2F%3E\" data-src=\"https:\/\/montaudit.me\/wp-content\/uploads\/2024\/03\/International-Standards-on-Auditing-1-1000x552.jpg\" data-srcset=\"https:\/\/montaudit.me\/wp-content\/uploads\/2024\/03\/International-Standards-on-Auditing-1-1000x552.jpg 1000w, https:\/\/montaudit.me\/wp-content\/uploads\/2024\/03\/International-Standards-on-Auditing-1.jpg 1497w\" loading=\"eager\" sizes=\"(max-width: 1000px) 100vw, 1000px\" width=\"1000\" height=\"552\"  data-dt-location=\"https:\/\/montaudit.me\/en\/international-standards-on-auditing\/international-standards-on-auditing-3\/\" style=\"--ratio: 1000 \/ 552;\" alt=\"\" \/><\/div><\/div><\/div>[vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<p style=\"text-align: justify;\">International Auditing Standards (IAS) are applied in the audit of financial statements.\u00a0ISAs are written in the context of an audit of financial statements by an independent auditor.\u00a0When used in audits of other information, they should be applied as appropriate in the circumstances.<\/p>\n<p>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>International auditing standards contain:<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li style=\"text-align: justify;\">Basic principles (rules) and essential procedures,<\/li>\n<li style=\"text-align: justify;\">Relevant guidance in the form of explanatory notes and other material, including appendices.<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<p style=\"text-align: justify;\">Basic principles (rules) and essential procedures should be interpreted and applied in the context of explanations and other material containing guidelines for application. Therefore, in order to understand and apply the basic principles and essential procedures, it is necessary to consider the entire text of the specific standard. The nature of International Auditing Standards requires auditors to behave professionally when applying them. In exceptional circumstances, the professional accountant may judge that it is necessary to deviate from basic principles or procedures of the standard in order to achieve the objective of the engagement as effectively as possible. When such a situation arises, a professional accountant should be prepared to justify such a deviation.<\/p>\n<p style=\"text-align: justify;\">Any limitation of applicability (scope) of a particular International Auditing Standard is clearly stated in the standard itself.\u00a0International Auditing Practice Statements (IAPS) are published to provide guidance on interpretation and practical assistance to professional accountants ie.\u00a0auditors in the preparation of International Auditing Standards, as well as in order to improve the good practice of auditing financial statements.<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_column_text]<strong>The International Auditing Standards are:<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>ISA 200\u2013299 GENERAL PRINCIPLES AND RESPONSIBILITY<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li style=\"text-align: justify;\">ISA 200 General objectives of the independent auditor and the conduct of the audit in accordance with International Standards on Auditing<\/li>\n<li style=\"text-align: justify;\">ISA 210 Negotiating the terms of the audit engagement<\/li>\n<li style=\"text-align: justify;\">ISA 220 Quality control of audits of financial statements<\/li>\n<li style=\"text-align: justify;\">ISA 230 Audit documentation<\/li>\n<li style=\"text-align: justify;\">ISA 240 The auditor&#8217;s responsibility for considering criminal acts in the audit of financial statements<\/li>\n<li style=\"text-align: justify;\">ISA 250 Consideration of the Application of Laws and Regulations in the Audit of Financial Statements<\/li>\n<li style=\"text-align: justify;\">ISA 260 Communication with persons authorized to manage<\/li>\n<li style=\"text-align: justify;\">ISA 265 Communication of deficiencies in internal control to those charged with governance and management<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>ISA 300\u2013499 RISK ASSESSMENT AND RESPONSES TO ASSESSED RISKS<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li style=\"text-align: justify;\">ISA 300 Planning the Audit of Financial Statements<\/li>\n<li style=\"text-align: justify;\">ISA 315 (revised) Identifying and assessing the risks of material misstatement through understanding the entity and its environment<\/li>\n<li style=\"text-align: justify;\">ISA 320 Materiality in Planning and Conducting an Audit<\/li>\n<li style=\"text-align: justify;\">ISA 330 The auditor&#8217;s response to assessed risks<\/li>\n<li style=\"text-align: justify;\">ISA 402 Audit Considerations Related to an Entity Using a Service Organization<\/li>\n<li style=\"text-align: justify;\">ISA 450 Evaluation of Misstatements Identified During an Audit<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>ISA 500\u2013599 AUDIT EVIDENCE<\/strong>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li>ISA 500 Audit evidence<\/li>\n<li>ISA 501 Audit evidence \u2013 Specific considerations for selected positions<\/li>\n<li style=\"text-align: justify;\">ISA 505 External confirmations<\/li>\n<li style=\"text-align: justify;\">ISA 510 Initial audit engagements \u2013 Initial balances<\/li>\n<li style=\"text-align: justify;\">ISA 520 Analytical procedures<\/li>\n<li style=\"text-align: justify;\">ISA 530 Audit sampling<\/li>\n<li style=\"text-align: justify;\">ISA 540 Auditing accounting estimates, including fair value accounting estimates and related disclosures<\/li>\n<li style=\"text-align: justify;\">ISA 550 Related parties<\/li>\n<li style=\"text-align: justify;\">ISA 560 Subsequent Events<\/li>\n<li style=\"text-align: justify;\">ISA 570 (revised) The going concern principle<\/li>\n<li style=\"text-align: justify;\">ISA 580 Written Statements<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>ISA 600\u2013699 USE OF THE WORK OF OTHERS<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li style=\"text-align: justify;\">ISA 600 Special considerations \u2013 audit of group financial statements (including the work of component auditors)<\/li>\n<li style=\"text-align: justify;\">ISA 610 (revised in 2013) Using the results of the work of internal auditors<\/li>\n<li style=\"text-align: justify;\">ISA 620 Using the results of the work of experts engaged by the auditor<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>ISA 700\u2013799 AUDIT CONCLUSIONS AND REPORTING<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li style=\"text-align: justify;\">ISA 700 (Revised) Forming Opinions and Reporting on Financial Statements<\/li>\n<li style=\"text-align: justify;\">ISA 701 Communicating Key Audit Matters in the Independent Auditor&#8217;s Report<\/li>\n<li style=\"text-align: justify;\">ISA 705 (Revised) Modifications to the Opinion in the Independent Auditor&#8217;s Report<\/li>\n<li style=\"text-align: justify;\">ISA 706 (Revised) Attention paragraph and other matters paragraph in the independent auditor&#8217;s report<\/li>\n<li style=\"text-align: justify;\">ISA 710 Comparative information \u2013 comparative amounts and comparative financial statements<\/li>\n<li style=\"text-align: justify;\">ISA 720 (Revised) Auditor&#8217;s Responsibilities Regarding Other Information<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<strong>ISA 800\u2013899 SPECIAL AREAS<\/strong>[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"standard-arrow list-divider bullet-top\"><ul>\n<li style=\"text-align: justify;\">ISA 800 (revised) Special considerations \u2013 audits of financial statements prepared in accordance with special purpose frameworks<\/li>\n<li style=\"text-align: justify;\">ISA 805 (Revised) Special Considerations \u2013 Audits of Individual Financial Statements and Special Financial Statement Elements, Accounts or Items<\/li>\n<li style=\"text-align: justify;\">ISA 810 (Revised) Engagements on Reporting on Condensed Financial Statemen<\/li>\n<\/ul>\n<\/div>[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text] International Auditing Standards (IAS) are applied in the audit of financial statements.\u00a0ISAs are written in the context of an audit of financial statements by an independent auditor.\u00a0When used in audits of other information, they should be applied as appropriate in the circumstances. [\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]International auditing standards contain:[\/vc_column_text][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text] Basic principles (rules) and essential procedures should be&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4852","page","type-page","status-publish","hentry","description-off"],"_links":{"self":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages\/4852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/comments?post=4852"}],"version-history":[{"count":6,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages\/4852\/revisions"}],"predecessor-version":[{"id":5262,"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/pages\/4852\/revisions\/5262"}],"wp:attachment":[{"href":"https:\/\/montaudit.me\/en\/wp-json\/wp\/v2\/media?parent=4852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}