The ‘clarified’ International Standards on Auditing (ISAs) have been with us for nearly two years. However, issues are emerging which frequently trip audit firms up – sometimes due to audit software omitting a requirement of the ISAs or incorrectly interpreting part of an ISA, explains Steve Collings.
This article aims to flag up the more common issues which practitioners are falling foul of so that quality assurance visits by the various professional bodies can run more smoothly.
The rest of the article includes the following sections:
- Audit fieldwork
- Audit completion