IAASB proposes three more standards
IAASB has proposed three more standards relating to controls at service organisations
IAASB has proposed three more standards relating to controls at service organisations
The International Auditing and Assurance
Standards Board has proposed two new standards relating to controls at
service organisations and a third standard for the communication of deficiencies
in internal control to those in charge of governance.
The proposed international standard on auditing (ISA) 402 (revised and
redrafted), ‘audit considerations relating to an entity using a third party
service organization’ deals with the auditor’s responsibilities to obtain audit
evidence when a client uses one or more service organisations.
The proposed international standard on assurance engagements (ISAE) 3402,
‘assurance reports on controls at a third party service organization’, is
expected to bring consistency in reporting on controls at service organisations.
This standard in particular will ensure reports issued in one country are
likely to meet the requirements of the auditors in other countries.
Further reading:
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