International Standard on Auditing (ISA) 706 (Revised), Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report
Revisions to this ISA are as a result of new ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. ISA 706 (Revised) deals with the auditor’s responsibility to communicate with those charged with governance in an audit of financial statements.
ISA 706 (Revised) is effective for audits of financial statements for periods ending on or after December 15, 2016.
International Standard on Auditing (ISA) 570 (Revised), Going Concern
The revised ISA deals with the auditor’s responsibilities in an audit of financial statements relating to going concern and the implications for the auditor’s report.
ISA 570 (Revised) is effective for audits of financial statements for periods ending on or after December 15, 2016.
ISA 810 (Revised), Engagements to Report on Summary Financial Statements
ISA 810 (Revised), Engagements to Report on Summary Financial Statements, deals with the auditor’s responsibilities relating to an engagement to report on summary financial statements derived from financial statements audited in accordance with International Standards on Auditing (ISAs) by that same auditor.
Slide Presentation in Support of the IAASB’s New and Revised Auditor Reporting Standards
This slide presentation has been prepared by the IAASB’s Auditor Reporting Implementation Working Group to assist IAASB members, national standard setters, auditors and others promote awareness of the new and revised Auditor Reporting standards within their respective jurisdictions.
International Standard on Auditing (ISA) 260 (Revised), Communication with Those Charged with Governance
Revisions to this ISA are as a result of new ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report. ISA 260 (Revised) deals with the auditor’s responsibility to communicate with those charged with governance in an audit of financial statements.
ISA 260 (Revised) is effective for audits of financial statements for periods ending on or after December 15, 2016.
ISA 805 (Revised), Special Considerations─Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
ISA 805 (Revised) deals with special considerations in the application of the ISAs to an audit of a financial statement or a specific element, account, or item of a financial statement.
It includes limited amendments to provide clarity about how the new and revised Auditor Reporting standards apply in the context of special purpose financial statements. These amendments are not intended to substantively change the underlying premise of these engagements in accordance with the extant ISAs.
