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ISSAI Executive Summaries

Executive Summary:

ISSAI 1200 – Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards of Auditing

Purpose:

This Practice Note provides supplementary guidance on ISA 200 – Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing.

ISSAI Category:

Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit

Target Group:

Public sector external auditors

Principle:

ISA 200 deals with the independent auditor's overall responsibilities when conducting an audit of financial statements in accordance with ISAs. It sets out the overall objectives of the independent auditor and explains the nature and scope of an audit, authority and structure of the ISAs and includes requirements establishing the general responsibilities of the independent auditor.

Scope - Content:

The Practice Note provides additional guidance for public sector auditors related to

  • Scope of the ISA
  • An audit of financial statements
  • Overall objectives of the auditor
  • Definitions
  • Ethical requirements relating to an audit of financial statements
  • Conduct of an audit in accordance with ISAs
  • Sufficient and appropriate audit evidence and audit risk
Author - Committee:

INTOSAI Professional Standards Committee – Financial Audit Subcommittee

Status:

Approved at XXth Congress of INTOSAI, Johannesburg 2010

Download:

http://www.issai.org/en_us/site-issai/issai-framework/4-auditing-guidelines.htm

Related Documents - Executive Summaries:
Related Documents - ISSAI Full Versions:
Related Documents - Others:

ISA 210 is applicable to auditors of public sector entities in their role as auditors of financial statements


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