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Executive Summary:

ISSAI 1501 – Audit Evidence - Specific Considerations for Selected Items


This Practice Note provides supplementary guidance on ISA 501 – Audit Evidence: Specific Considerations for Selected Items

ISSAI Category:

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

Target Group:

Public sector external auditors


ISA 501 deals with specific considerations by the auditor in obtaining sufficient appropriate audit evidence with respect to certain aspects of inventory, litigation and claims involving the entity and segment information in an audit of financial statements.

Scope - Content:

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

  • Existence and condition of inventory
  • Additional responsibilities in relation to litigation and claims
  • Presentation and disclosure of segment information
Author - Committee:

INTOSAI Professional Standards Committee – Financial Audit Subcommittee


Approved at XXth Congress of INTOSAI, Johannesburg 2010


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

ISA 501 is applicable to auditors of public sector entities in their role as auditors of financial statements and deals with specific considerations in accordance with ISA 500 – Audit Evidence

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