PSA 700 (Rev.)

PSA 700 (Rev.) - Auditing and Assurance Standards Council...

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Unformatted text preview: Auditing and Assurance Standards Council Philippine Standard on Auditing (PSA) 700 (Revised) THE INDEPENDENT AUDITOR’S REPORT ON A COMPLETE SET OF GENERAL PURPOSE FINANCIAL STATEMENTS Conforming Amendments PSA 200, Objective and General Principles Governing an Audit of Financial Statements PSA 210, Terms of Audit Engagements PSA 560, Subsequent Events PSA 701, Modifications to the Independent Auditor’s Report PSA 800, The Independent Auditor’s Report on Special Purpose Audit Engagements 2 PSA 700 (Revised) With Conforming Amendments THE INDEPENDENT AUDITOR’S REPORT ON A COMPLETE SET OF GENERAL PURPOSE FINANCIAL STATEMENTS CONTENTS Pages PSA 700 (Revised), “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements” Conforming Amendments PSA 200, “Objective and General Principles Governing an Audit of Financial Statements” PSA 210, “Terms of Audit Engagements” PSA 701, “Modifications to the Independent Auditor’s Report” PSA 560, “Subsequent Events” PSA 800, “The Independent Auditor’s Report on Special Purpose Audit Engagements” Approval by the Auditing and Assurance Standards Council (AASC) ∗ ∗ Formerly Auditing Standards and Practices Council (ASPC). 1 25 44 56 66 74 84 - 1 - PSA 700 (Revised) PHILIPPINE STANDARD ON AUDITING 700 (REVISED) THE INDEPENDENT AUDITOR’S REPORT ON A COMPLETE SET OF GENERAL PURPOSE FINANCIAL STATEMENTS 1 (Effective for auditor’s reports dated on or after December 31, 2006)* CONTENTS Paragraphs Introduction ........................................................................................................ 1-3 The Auditor’s Report on Financial Statements .................................................. 4-15 Elements of the Auditor’s Report in an Audit Conducted in Accordance with PSAs .................................................................................................... 16-57 Auditor’s Report ................................................................................................ 58-60 Auditor’s Report for Audits Conducted in Accordance with Both ISAs andPSAs................. Unaudited Supplementary Information Presented with Audited 61-66 Financial Statements ......................................................................................... 67-71 Effective Date ..................................................................................................... 72-73 Acknowledgment ……………………………………………………………... 74-75 Philippine Standard on Auditing (PSA) 700 (Revised), “The Independent Auditor’s Report on a Complete Set of General Purpose Financial Statements” should be read in the context of the “Preface to the Philippine Standards on Quality Control, Auditing, Assurance and Related Services,” which sets out the application and authority of PSAs....
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PSA 700 (Rev.) - Auditing and Assurance Standards Council...

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