Unclear clarified ISAs

Two years on and there are still some sticky areas in the application of clarified ISAs, says Julia Penny

Clarified International Standards on Auditing (ISAs) (UK and Ireland) have been applicable for audits of financial statements since periods ending on or after 15 December 2010. But there is continued evidence, from within firms and from regulators, of difficulty with some aspects of the clarity ISAs. Not surprisingly, these are generally in areas that have changed significantly: group audits, materiality and related parties.

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe