International organization of supreme audit

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International Organization of Supreme Audit Institutions INTOSAI European Union EU EU 8 th Directive on Statutory Audits United States Securities and Exchange Commission (SEC) Public Company Accounting Oversight Board (PCAOB) Financial Accounting Standards Board (FASB) American Institute of Certified Public Accountants (AICPA)
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Organizations that Affect the Accounting Profession in Malaysia Ministry of Finance | Accountant General’s Department of Malaysia | MALAYSIAN INSTITUTE OF ACCOUNTANT | MIA Council Supported by
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IAASB Standards International Standards on Auditing (ISAs) International Standards on Review Engagements (ISREs) International Standards on Assurance Engagements (ISAEs) International Standards on Related Services (ISRSs) International Standards on Quality Control ( ISQCs )
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Auditing Standards Auditing standards serve as guidelines for and measures of the quality of the auditor’s performance. IFAC members IAASB issues International Standards on Auditing (ISAs). ISAs are considered to be minimum standards of performance for auditors.
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General Principles and Responsibilities ISA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing ISA 210 Agreeing the Terms of Audit Engagements ISA 220 Quality Control for an Audit of Financial Statements ISA 230 Audit Documentation ISA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements ISA 250 Consideration of Laws and Regulations in an Audit of Financial Statements ISA 260 Communication with Those Charged with Governance ISA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
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Risk Assessment and Response to Assessed Risks ISA 300 Planning an Audit of Financial Statements ISA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment ISA 320 Materiality in Planning and Performing an Audit ISA 330 The Auditor’s Responses to Assessed Risks ISA 402 Audit Considerations Relating to an Entity Using a Service Organization ISA 450 Evaluation of Misstatements Identified during the Audit
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Audit Evidence ISA 500 Audit Evidence ISA 501 Audit Evidence – Specific Considerations for Selected Items ISA 505 External Confirmations ISA 510 Initial Engagements – Opening Balances ISA 520 Analytical Procedures ISA 530 Audit Sampling ISA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures ISA 550 Related Parties ISA 560 Subsequent Events ISA 570 Going Concern
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Using Work of Others ISA 600 Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors) ISA 610 Using the Work of Internal Auditors ISA 620 Using the Work of an Auditor’s Expert
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Audit Conclusions and Reporting ISA 700
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