Three revised International Standards on Auditing

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21 Dec 2007

The International Auditing and Assurance Standards Board (IAASB) has issued three final International Standards on Auditing (ISAs) that reflect its new clarity drafting conventions.

Click for Press Release (PDF 45k), which has summaries of the three new ISAs and also a hyperlink to the IAASB's website where you can download the ISAs without charge. The new ISAs are:
  • ISA 230 (Redrafted) Audit Documentation
  • ISA 260 (Revised and Redrafted) Communication with Those Charged with Governance
  • ISA 720 (Redrafted) The Auditor's Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements
The IAASB has been redrafting all of its existing standards and developing new and revised standards following 'clarity drafting conventions'. The complete set of revised and clarified ISAs will be effective for audits of financial statements for periods beginning on or after 15 December 2009. The IAASB is releasing standards as they are approved to provide standard setters, regulators, and auditors with sufficient time to plan for the adoption and implementation of the standards.


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