Three Main Categories:
• Audit & Review of Historical Financial Information (ISAs 200-999)
• Other Assurance Engagements (ISAEs 3000-3699)
• Related Services (ISRSs 4400-4699)
International Standards on Auditing (ISAs):
Professional standards issued by the IAASB (International Auditing and Assurance Standards Board) under IFAC for conducting financial statement audits.
International Standards on Assurance Engagements (ISAEs):
Standards for assurance engagements other than audits or reviews of historical financial information.
International Standards on Related Services (ISRSs):
Standards for engagements such as agreed-upon procedures, compilations, and reviews.
- ISA 200: Overall Objectives of the Independent Auditor
- ISA 210: Agreeing the Terms of Audit Engagements
- ISA 220: Quality Control for an Audit of Financial Statements
- ISA 230: Audit Documentation
- ISA 240: Auditor's Responsibilities Relating to Fraud
- ISA 250: Consideration of Laws and Regulations
- ISA 260: Communication with Those Charged with Governance
- ISA 265: Communicating Deficiencies in Internal Control
ISA 200 - Overall Objectives:
• Obtain reasonable assurance that financial statements are free from material misstatement
• Report on financial statements in accordance with audit findings
ISA 210 - Preconditions:
• Determine acceptable financial reporting framework
• Obtain management agreement acknowledging their responsibilities
• Ensure access to all necessary information
- ISA 300: Planning an Audit of Financial Statements
- ISA 315: Identifying and Assessing Risks of Material Misstatement
- ISA 320: Materiality in Planning and Performing an Audit
- ISA 330: Auditor's Responses to Assessed Risks
- ISA 402: Audit Considerations for Entities Using Service Organizations
- ISA 450: Evaluation of Misstatements
ISA 315 - Understanding the Entity:
Covers industry factors, regulatory environment, nature of the entity, accounting policies, objectives/strategies, and financial performance measurement.
ISA 330 - Substantive vs Control Tests:
• Test of Control: Evaluates operating effectiveness of controls
• Substantive Procedure: Detects material misstatements
• Must perform substantive procedures for each material class of transactions
- ISA 500: Audit Evidence
- ISA 501: Audit Evidence—Specific Considerations
- ISA 505: External Confirmations
- ISA 510: Initial Audit Engagements—Opening Balances
- ISA 520: Analytical Procedures
- ISA 530: Audit Sampling
- ISA 540: Auditing Accounting Estimates
- ISA 550: Related Parties
- ISA 560: Subsequent Events
- ISA 570: Going Concern
- ISA 580: Written Representations
ISA 520 - Analytical Procedures:
• Preliminary Analytical Review: Understand the business
• Substantive Analytical Procedures: Used as substantive procedures
• Final Analytical Review: Assess consistency at audit completion
ISA 570 - Going Concern:
• Management assesses the entity's ability to continue as a going concern
• Auditor obtains evidence about appropriateness of this assumption
• Conclude whether a material uncertainty exists
- ISA 600: Special Considerations—Audits of Group Financial Statements
- ISA 610: Using the Work of Internal Auditors
- ISA 620: Using the Work of an Auditor's Expert
- ISA 700: Forming an Opinion and Reporting
- ISA 701: Communicating Key Audit Matters
- ISA 705: Modifications to Opinion
- ISA 706: Emphasis of Matter Paragraphs
- ISA 710: Comparative Information
- ISA 720: Auditor's Responsibilities Relating to Other Information
ISAE 3000-3699: Assurance Engagements Other than Audits or Reviews
• ISAE 3000: General standard for assurance engagements
• ISAE 3400: Examination of Prospective Financial Information
• ISAE 3402: Assurance Reports on Controls at Service Organizations
• ISAE 3410: Assurance on Greenhouse Gas Statements
• ISAE 3420: Assurance on Pro Forma Financial Information
ISRS 4400-4699: Related Services
• ISRS 4400: Agreed-Upon Procedures
• ISRS 4410: Compilation Engagements
• ISRS 4600: Review Engagements
| Standard Type | Number Range | Purpose |
|---|---|---|
| ISAs | 200-999 | Financial Statement Audits |
| ISAEs | 3000-3699 | Other Assurance Engagements |
| ISRSs | 4400-4699 | Related Services |
International Auditing Practice Notes (IAPN): Provide practical assistance (e.g., IAPN 1000 on Financial Instruments)
Effective Dates: Standards may have different effective dates (e.g., ISA 540 Revised effective December 15, 2019)
Corporate Governance: Other examinable documents may include corporate governance requirements