Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements 2013
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Book Publish Date
21-May-2014
The 2013 handbook contains two new standards:-
- International Standard on Auditing (ISA) 610 (Revised 2013) as well as the amendments conforming to other International Standards on Auditing. This standard includes requirements and guidance addressing the external auditor’s responsibilities if using internal auditors to provide direct assistance under the direction, supervision and review of the external auditor for purposes of the audit, where such assistance is not prohibited by law or regulation.
· (ISRE) 2400 (Revised). This revised standard deals with the practitioner’s responsibilities when engaged to perform a review of historical financial statements, when the practitioner is not the auditor of the entity’s financial statements, and the form and content of the practitioner’s report on the financial statements.
The following standards have been withdrawn:-
- ISA 610, Using the Work of Internal Auditors, replaced with ISA 610 (Revised), Using the Work of Internal Auditors,
- ISA 315, Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment, replaced with ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment,
- ISRS 4410, Engagements to Compile Financial Information, replaced with International Standard on Related Services (ISRS) 4410 (Revised), Compilation Engagements.
In addition to the changes made to the code of conduct regarding a breach of a requirement of the code, conflict of interests and definition of “Engagement Team” in the code.