Author: Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
April 24, 2023, letter commenting on the International Auditing and Assurance Standards Board's October 2022 Proposed International Standard on Auditing 500 , Audit Evidence, and Proposed Conforming and Consequential Amendments to Other ISAs
Author: February 8, 2022, letter commenting on International Auditing and Assurance Standards Board's Proposed International Standard on Auditing for Audits of Financial Statements of less Complex Entities
Author: International Auditing Standards in the United States
Author: Asokan AnandarajanPublisher:
ISBN: 9781606496121
Category : Auditing
Languages : en
Pages : 0
Book Description
Annotation International Standards on Auditing (ISA) are standards or guidelines that auditors follow when conducting a financial audit of a companys financial statements in those jurisdictions that have adopted ISAs or some version of ISAs. These standards are issued by the International Federation of Accountants (IFAC) through the International Auditing and Assurance Standards Board (IAASB). ISA covers a wide variety of ground. It designates specific responsibilities of an auditor including how to plan an audit; how to evaluate and conclude on the adequacies of internal controls; how to evaluate audit evidence and draw conclusions from it and how to write an audit report. These are just some of the designated responsibilities among a wide range of auditing requirements. The USA, on the other hand, has its own auditing standards: the so-called Generally Accepted Auditing Standards (GAAS) set forth by the American Institute of Certified Public Accountants for use in private company audits; and the Public Company Accounting Oversight Board (PCAOB), standards which apply to the audits of publicly-owned corporations. The problem for both practitioners and students is that the auditing principles of the ISA and the AICPA are not identical, even though they are moving towards convergence, or at least attempting to do so. That said, the standards of the ISA and AICPA still differ; and this problem is compounded because of the significant differences between the standards of ISA and PCAOB. In fact a study commissioned by the European Community found at least five areas where there are substantial differences. The areas of substantive differences relate to: * Assessing and reporting on internal control * Reference to the work of another auditor in a group audit * Documentation requirements * Risk assessment and responses to assessed risks. This is probably one of the most significant differences. * Going concern reporting. Under the PCAOB the foreseeable future is limited to 12 months but under the ISA the look forward feature has a different definition. Books have been written on both the PCAOB and ISAs standards. In this proposed book we plan to focus on the differences between the PCAOB and ISA standards. We will cover in a clear and concise way the important differences and similarities between them and provide check lists of dos and donts. This should be of importance to upper level undergraduate students of auditing and auditors in the US and internationally.
Statement on Auditing Standards, Number 128
Author: AICPAPublisher: John Wiley & Sons
ISBN: 1940235367
Category : Business & Economics
Languages : en
Pages : 60
Book Description
As a result of its Clarity Project, the Auditing Standards Board (ASB) has issued Statement on Auditing Standards (SAS) No. 128, Using the Work of Internal Auditors, to supersede SAS No. 65, The Auditor's Consideration of the Internal Audit Function in an Audit of Financial Statements (AICPA, Professional Standards, AU sec. 322 and AU-C sec. 610), and amend: SAS No. 122, Statements on Auditing Standards: Clarification and Recodification, section 315, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (AICPA, Professional Standards, AU-C sec. 315); Various other sections in SAS No. 122 (AICPA, Professional Standards, AU-C secs. 200, 220, 230, 240, 260, 265, 300, 402, 500, 550, and 600); and Statement on Quality Control Standards No. 8, A Firm’s System of Quality Control (Redrafted) (AICPA, Professional Standards, QC sec. 10). SAS No. 128 addresses the external auditor’s responsibilities when using the work of internal auditors if it includes (a) using the work of the internal audit function in obtaining audit evidence and (b) using internal auditors to provide direct assistance under the direction, supervision, and review of the external auditor. Consistent with International Standard on Auditing (ISA) 610 (Revised 2013), SAS No. 128 introduces the concept of a systematic and disciplined approach, which is not included in SAS No. 65. Paragraph 13 of SAS No. 128 would require, among other things, as a prerequisite to being able to use the work of the internal audit function, that the external auditor evaluate the application by the internal audit function of a systematic and disciplined approach, including quality control. Paragraphs A12–A14 of SAS No. 128 provide application guidance with regard to the application of a systematic and disciplined approach. The ASB believes that relative to SAS No. 65, this requirement represents an additional and explicit evaluation that the external auditor would need to perform to conclude on the appropriateness of using the work of internal auditors.
Proposed Statement on Auditing Standards
Author: Proposed Statement on Auditing Standards and Statement on Standards for Attestation Engagements
Author: American Institute of Certified Public Accountants. Auditing Standards BoardPublisher:
ISBN:
Category : Auditors
Languages : en
Pages : 15
Book Description
Proposed Statement on Auditing Standards
Author: American Institute of Certified Public Accountants. Auditing Standards BoardPublisher:
ISBN:
Category : Auditing
Languages : en
Pages : 14
Book Description
Communications to Those Charges with Governance
Author: International Federation of Accountants. International Auditing Practices CommitteePublisher:
ISBN:
Category :
Languages : en
Pages : 8
Book Description
International Standard on Auditing (New Zealand).
Author: New Zealand. External Reporting BoardPublisher:
ISBN: 9781927174142
Category : Auditing
Languages : en
Pages : 17
Book Description
A Guide to Forensic Accounting Investigation
Author: Steven L. SkalakPublisher: John Wiley & Sons
ISBN: 1118017714
Category : Business & Economics
Languages : en
Pages : 648
Book Description
Recent catastrophic business failures have caused some to rethinkthe value of the audit, with many demanding that auditors take moreresponsibility for fraud detection. This book provides forensicaccounting specialists?experts in uncovering fraud?with newcoverage on the latest PCAOB Auditing Standards, the ForeignCorrupt Practices Act, options fraud, as well as fraud in China andits implications. Auditors are equipped with the necessarypractical aids, case examples, and skills for identifyingsituations that call for extended fraud detection procedures.