International Standards on Auditing

ISA 200

The objective of an audit is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with an identified financial reporting framework. It is management’s responsibility to prepare the financial statements. Auditor’s responsibility is to give reasonable assurance that the financial statements give a true and fair picture … Continue reading

ISA 210

Establishing whether the preconditions for an audit are present; and confirming that there is a common understanding between the auditor and management and, where appropriate, those charged with governance of the terms of the audit engagement … Continue Reading

ISA 220

The audit complies with professional standards and applicable legal and regulatory requirements; and the auditor’s report issued is appropriate in the circumstances … Continue Reading

ISA 230

The auditor is to prepare documentation that provides a sufficient and appropriate record of the basis for the auditor’s report; and evidence that the audit was planned and performed in accordance with ISAs and applicable legal and regulatory requirements … Continue reading

ISA 240

  • To identify and assess the risks of material misstatement of the financial statements due to fraud;
  • To obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and
  • To respond appropriately to fraud or suspected fraud identified during the audit … Continue reading

ISA 250

  1. To obtain sufficient appropriate audit evidence regarding compliance with the provisions of those laws and regulations generally recognized to have a direct effect on the determination of material amounts and disclosures in the financial statements;
  2. To perform specified audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements; and … Continue reading

ISA 265

The auditor is to communicate appropriately to those charged with governance and management deficiencies in internal control that the auditor has identified during the audit and that, in the auditor’s professional judgment, are of sufficient importance to merit their respective attentions … Continue reading

ISA 300

The objective of the auditor is to plan the audit so that it will be performed in an effective manner … Continue reading

ISA 315

The auditor is to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial statement and assertion levels, through understanding the entity and its environment, including the entity’s internal control, thereby providing a basis for designing and implementing responses to the assessed risks of material misstatement … Continue reading