ISSAI Executive Summaries
ISSAI 1250 – Consideration of Laws and Regulations in an Audit of Financial Statements
This Practice Note provides supplementary guidance on ISA 250 – Consideration of Laws and Regulations in an Audit of Financial Statements
Level 4: General Auditing Guidelines - General Auditing Guidelines on Financial Audit
Public sector external auditors
ISA 250 deals with the auditor's responsibility to consider laws and regulations in an audit of financial statements.
|Scope - Content:||
In the public sector consideration of compliance with laws and regulations often has a broader scope than that set out in ISA 250. This broader scope may include additional responsibilities for expressing a separate opinion as to the entity’s compliance with laws and regulations.
These additional responsibilities and related audit and reporting objectives are dealt with in ISSAI 4000 (Compliance Audit Guidelines – General Introduction) and 4200 (Compliance Audit Guidelines - Compliance Audit Related to the Audit of Financial Statements).
|Author - Committee:||
INTOSAI Professional Standards Committee – Financial Audit Subcommittee
Approved at XXth Congress of INTOSAI, Johannesburg 2010
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ISA 250 – Consideration of Laws and Regulations in an Audit of Financial Statements