Auditing
International Standards on Auditing and Quality Control handbook 2009
The first Arabic 2009 edition of the International Standards on Auditing and Quality Control handbook after being updated to include the quality control standards.
The handbook consists of:-
- A complete set of audit and quality control engagements of the International Auditing and Assurance Standards Board (IAASB).
- All international standards on auditing redrafted for clarification purposes.
- The redrafted International Standard on Quality Control 1, glossary of terms and introduction, all to be effective starting from December 15, 2009.
This new edition of the handbook also includes nine International Accounting Standards which were redrafted and issued by the IAASB on January 1, 2008. It replaces the second part of 2008 edition of the International Standards on Audit Engagements and Assurance and the Code of Ethics issued by the International Federation of Accountants (IFAC).
As a result, auditors in all over the world will be able to access 36 updated and clarified International Standards on Auditing and Quality Control. These standards were designed to enhance comprehension, applicability and translatability. The clarified standards, included in this handbook, are considered useful in auditing financial statements for periods beginning on or after December 15, 2009.
In addition, the Board announced the completion of (clarity project) in March 2009. The eighteen-month program consisted of a comprehensive review of all International Standards on Auditing and the International Standards on Quality Control for further explanation (clarity project).
Please click on the follwing link to read the book:
The title of the book
Handbook of International Auditing, Assurance, And Ethics Pronouncements 2008
Part I
It includes information about the International Federation of Accountants (IFAC), the Code of Ethics, Auditing, Review, Other Assurance, and Related Services
Part II
It includes information about the (Clarity project) of the International Auditing and Assurance Standards Board (IAASB) and an amended preface to the International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services, in addition to the following redrafted standards:-
- ISA 230 (Redrafted), “Audit Documentation;”
- ISA 260 (Revised and Redrafted), “Communication with Those Charged with Governance;”
- ISA 540 (Revised and Redrafted), “Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures;”
- ISA 600 (Revised and Redrafted), “Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors);” and
- ISA 720 (Redrafted), “The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements.”
These standards shall be effective for audits of financial statements for periods beginning on or after December 15, 2009.
International Auditing, Assurance, and Ethics Pronouncements 2007
This Publication includes the following:-
- Glossary terms updated.
- ISA 700, “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements”became effective for auditors’ reports dated on or after December 31, 2006.
- ISA 700 gave rise to conforming amendments to the following ISAs 200, 210, 570, 701, 800
In addition to the withdrawals of the following ISA:-
- ISA 230, “Documentation” was withdrawn in June 2006 when the revised ISA 230 “Audit Documentation” became effective.
- ISA 700, “The Auditor’s Report on Financial Statements” was withdrawn in December 2006 when the revised ISA 700, “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements” became effective.
The IAASB has also approved the application of those conventions to the following four, re-titled ISA:-
- ISA 240 (Redrafted),“The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements” .
ISA 300 (Redrafted),“Planning an Audit of Financial Statements" .
- ISA 315 (Redrafted),“Identifying and Assessing the Risks of Material.
- Misstatement Through Understanding the Entity and Its Environment;” and
- ISA 330 (Redrafted), “The Auditor’s Responses to Assessed Risks.”
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