ISA's List

 

  The Clarified Standards   

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The final set of clarified standards comprise 36 International Standards on Auditing (ISAs) and International Standard on Quality Control (ISQC) 1, including: o  One new standard, addressing communication of deficiencies in internal control; o  16 ISAs containing new and revised requirements (these have been referred to as "revised and redrafted ISAs"); and o  20 ISAs that have been redrafted to apply the new conventions and reflect matters of general clarity only (these have been referred to as "redrafted ISAs and redrafted ISQC 1").

 S truc ture of the IS A s The ISAs now have a new structure, in which information is presented in separate sections: Introduction, Objective, Objective, Definitions, Requirements, and Application and Other Explanatory Material. I ntrod ntroduction uction  Introductory material may include information regarding the purpose, scope, and subject matter of the ISA, in addition to the responsibilities of the auditors and others in the context in which the ISA is set.

Objective Each ISA now contains a clear statement of the objective of the auditor in the audit area addressed by that ISA. Definitions  For greater understanding of the ISAs, applicable terms have been defined in each ISA. R eq equi uirr eme ments nts  Each objective is supported by clearly stated requirements. Requirements are always expressed by the phrase "the auditor shall."  Applica  App licattion and Ot Othe herr E xpl xpla ana nattory Mate Materi ri al  The application and other explanatory material explains more precisely what a requirement means means or is intended to cover, or includes examples of procedures that may be appropriate under given circumstances circumstances..

IS As and IS QC 1 A complete list of the individual standards that comprise the clarified ISAs, as well as ISQC 1, is below. These standards ar e available to view and/or download under  Publications & Resources. Resources .  The Basis for Conclusions for each ISA and ISQC 1 can be found under und er Publications & Resources. Resources. These staff-prepared documents provide background information, main comments received on the exposure drafts, and the IAASB's conclusions regarding these comments in developing the final standard. In finalizing the 2012 Handbook 2012 Handbook of International Quality Quality Control, Auditing, Auditing, Review, Other Other Assurance, and Related Related Services  Pronouncements (the handbook), editorial and formatting changes were made to some ISAs from the 2010 handbook. A  A  bridging  bridging document has been prepared which provides an overview of these changes. o

Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards   ISA 200, Overall Objectives on Auditing

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ISA 210, Agreeing 210, Agreeing the Terms Terms of Audit Engagements ISA 220, Quality Control for an Audit Aud it of Financial Statements  Statements  ISA 230, Audit 230, Audit Documentation  Documentation  ISA 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements  Statements  ISA 250, Consideration of Laws and Regulations in an Audit of Financial Statements  Statements   ISA 260, Communication with Those Charged with Governance ISA 265, Communicating Deficiencies Deficiencies in Internal Control to Those Charged with Governance and Management   ISA 300, Planning 300, Planning an Audit of Financial Financial Statements ISA 315, Identifying 315, Identifying and Assessing Assessing the Risks of Material Material Misstatement Misstatement through Understanding the Entity and Its Environment   ISA 320, Materiality 320, Materiality in Planning and Performing an Audit Audit ISA 330, The Auditor's Responses to Assessed Risks  Risks  ISA 402, Audit 402, Audit Considerations Relating Relating to an Entity Using a Service Organization Organization   ISA 450, Evaluation 450, Evaluation of Misstatements Misstatements Identified Identified during the Audit  

500, Audit Evidence  Evidence    ISA 500, Audit 501, Audit  Audit Evidence-Specific Evidence-Specific Considerations Considerations for Selected Items Items    ISA 501,

 

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ISA 505, External 505, External Confirmations  Confirmations 

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ISA 510, Initial 510, Initial Audit Engagements-Opening Engagements-Opening Balances  Balances 

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ISA 520, Analytical 520, Analytical Procedures Procedures   ISA 530, Audit 530, Audit Sampling   ISA 540, Auditing 540, Auditing Accounting Estimates, Estimates, Including Fair Value Value Accounting Estimates, Estimates, and Related Disclosures Disclosures   ISA 550, Related 550, Related Parties ISA 560, Subsequent Events ISA 570, Going Concern  Concern  ISA 580, Written Representations  Representations  ISA 600, Special Considerations-Audits of Group Financial Statements (Including the Work of Component Auditors) ISA 610, Using the Work of Internal Auditors  Auditors  ISA 620, Using the Work of an Auditor's Expert   ISA 700, Forming 700, Forming an Opinion and Reporting Reporting on Financial Statements ISA 705, Modifications 705, Modifications to to the Opinion in the Independent Independent Auditor's Report   ISA 706, Emphasis 706, Emphasis of Matter Paragraphs Paragraphs and Other Matter Paragraphs in the the Independent Auditor's Report Report ISA 710, Comparative Information-Corresponding Figures and Comparative Financial Statements  Statements  ISA 720, The Auditor's Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements  Statements   ISA 800, Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks  Frameworks  ISA 805, Special Considerations-Audits of Single Financial Statements and Specific S pecific Elements, Accounts or Items of a Financial Statement

810, Engagements to Report on Summary Financial Statements Statements   ISA 810, Engagements o  International Standard on Quality Control (ISQC) 1, Quality Controls for Firms that Perform Audits and Reviews of Financial o

Statements, and Other Assurance and an d Related Services Engagements  Engagements 

To view or download the current standards, or to order a printed copy of the 2012 handbook, visit  Publications & Resources. Resources.