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Posted on December 13th, 2012
The Swiss Financial Market Supervisory Authority is putting forward its definitive circulars on “Auditing” and “Audit firms and lead auditors”, both of which provide a basis for the reorientation of regulations on auditing. The circulars will come into force on 1 January 2013. Acting as FINMA’s extended arm, audit firms play an [...] Posted on December 12th, 2012
Staff Audit Practice Alert No. 10: Maintaining and Applying Professional Skepticism in Audits focuses on the importance of professional skepticism, the appropriate application of professional skepticism in audits, and certain important considerations for audit firms’ quality control systems. PCAOB standards define professional skepticism as an attitude that includes a questioning mind and [...] Posted on November 22nd, 2012
The International Auditing and Assurance Standards Board (IAASB) today released for public comment proposed International Standard on Auditing (ISA) 720 (Revised), The Auditor’s Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor’s Report Thereon. The proposed standard clarifies and enhances the scope and focus of [...] Posted on October 25th, 2012
The 2012 edition includes a revised Preface, IAPN 1000, ISA 315 (Revised), ISA 610 (Revised) and Conforming Amendments, ISAE 3410, ISAE 3420, and ISRS 4410 (Revised). This two-part handbook was last issued in 2010. See also: 2012 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements – Volume II Posted on October 16th, 2012
Company audits are highly valued and have a major impact in influencing investment decisions, according to a PwC global survey of investment professionals. But there is a strong appetite for the audit to evolve so that it remains reliable, relevant and valued in the future. The findings arise from an in-depth survey [...] 27 pages
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