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ASCA-Jordan Issues the Arabic Version of 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
16-Oct-2019
AMMAN - The Arab Society of Certified Accountants (ASCA -Jordan) issued the Arabic version of the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements 2018. The new edition includes:
• ISA 250 (Revised), Consideration of Laws and Regulations in an Audit of Financial Statements.
These changes were included, together with related conforming amendments. The conforming changes have been made, as well as cross-referencing and other related changes, throughout the handbook for these revisions.
• ISA 540 (Revised), Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures. These amendments address an enhanced risk assessment process, a closer link to methods, data and assumptions in making accounting estimates, scalability considerations and an emphasis on the importance of professional skepticism.
ISA 540 (Revised) becomes effective for audits of financial statements for periods beginning on or after December 15, 2019.