The objective of this project is to develop a clear definition of the threshold at which deficiencies in internal control that the auditor has identifed during the audit should be communicated to those charged with governance and management, and to provide enhanced guidance to assist the auditor in fulfilling the auditor's communication responsibilities.
The objective of this project was to revise ISA 230, Documentation. The project resulted in the issue of ISA 230 (Revised), Audit Documentation. ISA 230 (Revised) is effective for audits for financial periods beginning on or after June 15, 2006.
The objective of this project was to revise ISA 550, Related Parties. The IAASB approved ISA 550 (Revised and Redrafted), Related Parties in March 2008. The ISA will be published after the Public Interest Oversight Board has confirmed that due process was followed in its development. The ISA is effective for audits of financial statements for periods beginning on or after December 15, 2009.
The objective of this project was to revise ISA 580, Management Representations. The IAASB approved ISA 580 (Revised and Redrafted), Written Representations in December 2007. The ISA was published in April 2008 after the Public Interest Oversight Board has confirmed that due process was followed in its development.
The objective of this project was to revise ISA 260, Communication of Audit Matters with Those Charged with Governance. The IAASB approved ISA 260 (Revised and Redrafted), Communication with Those Charged with Governance in September 2007. The ISA was published in December 2007 after the Public Interest Oversight Board has confirmed that due process was followed in its development.
