ES-5 APB ETHICAL STANDARD 5 (REVISED) NON-AUDIT SERVICES PROVIDED TO AUDITED ENTITIES

INTRODUCTION   APB Ethical Standard 1 requires the audit engagement partner to identify and assess the circumstances which could adversely affect the auditor’s objectivity (‘threats’), including any perceived loss of independence, and to apply procedures (‘safeguards’) which will either: eliminate the threat; or reduce the threat to an acceptable level (that is, a level at…

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ES-4 APB ETHICAL STANDARD 4 (REVISED) FEES, REMUNERATION AND EVALUATION POLICIES, LITIGATION, GIFTS AND HOSPITALITY

 INTRODUCTION   APB Ethical Standard 1 requires the audit engagement partner to identify and assess the circumstances which could adversely affect the auditor’s objectivity (‘threats’), including any perceived loss of independence, and to apply procedures (‘safeguards’) which will either: eliminate the threat; or reduce the threat to an acceptable level (that is, a level at…

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ES-3 APB ETHICAL STANDARD 3 (REVISED) LONG ASSOCIATION WITH THE AUDIT ENGAGEMENT

INTRODUCTION   APB Ethical Standard 1 requires the audit engagement partner to identify and assess the circumstances which could adversely affect the auditor’s objectivity (‘threats’), including any perceived loss of independence, and to apply procedures (‘safeguards’) which will either: eliminate the threat; or reduce the threat to an acceptable level (that is, a level at…

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ES-2 APB ETHICAL STANDARD 2 (REVISED) FINANCIAL, BUSINESS, EMPLOYMENT AND PERSONAL RELATIONSHIPS

APB Ethical Standard 1 requires the audit engagement partner to identify and assess the circumstances which could adversely affect the auditor’s objectivity (‘threats’), including any perceived loss of independence, and to apply procedures (‘safeguards’) which will either: eliminate the threat; or reduce the threat to an acceptable level (that is, a level at which it…

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INTERNATIONAL STANDARDS IN AUDITING (ISA)

COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS ACCOUNTS PAYABLE AGREEING THE TERMS OF AUDIT ENGAGEMENTS ASSURANCE ENGAGEMENTS OTHER THAN AUDITS OR REVIEWS OF HISTORICAL FINANCIAL INFORMATION INTERNATIONAL FRAMEWORK FOR ASSURANCE ENGAGEMENTS AUDIT EVIDENCE—ADDITIONAL CONSIDERATIONS FOR SPECIFIC ITEMS MODIFICATIONS TO THE OPINION IN THE INDEPENDENT AUDITOR’S REPORT CODE OF…

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WRITTEN PRESENTATION ISA 580

Introduction Scope of this ISA This International Standard on Auditing (ISA) deals with the auditor’s responsibility to request written representations, and the auditor’s actions when relevant parties do not provide the requested written representations, or when the auditor concludes that such written representations are not reliable. Appendix 1 lists other ISAs containing requirements and guidance…

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UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT

Introduction The purpose of this International Standard on Auditing (ISA) is to establish standards and to provide guidance on obtaining an understanding of the entity and its environment, including its internal control, and on assessing the risks of material misstatement in a financial statement audit. The importance of the auditor’s risk assessment as a basis…

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