IAASB completes its 'clarity project'

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04 Mar 2009

The International Auditing and Assurance Standards Board (IAASB) has completed its 'clarity project' with the release of the final seven clarified International Standards on Auditing (ISAs).

In total, there are now 36 newly updated and clarified ISAs and a clarified International Standard on Quality Control. The IAASB has also created a new Clarity Center on the IAASB Website. Titles of the seven final clarified ISAs are as follows:
  • ISA 210 (Redrafted) Agreeing the Terms of Audit Engagements;
  • ISA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management;
  • ISA 402 (Revised and Redrafted) Audit Considerations Relating to an Entity Using a Service Organization;
  • ISA 700 (Redrafted) Forming an Opinion and Reporting on Financial Statements;
  • ISA 800 (Revised and Redrafted) Special Considerations - Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks;
  • ISA 805 (Revised and Redrafted) Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement; and
  • ISA 810 (Revised and Redrafted) Engagements to Report on Summary Financial Statements.
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