The impact of the international standards on auditingMaintaining an international standard |
By Pesh Framjee, head of the non-profits unit at Deloitte
On 17 December 2004, the Auditing Practices Board (APB) published 30 new international standards on auditing (UK & Ireland) (ISA pluses) which will replace existing UK auditing standards (SASs) and align them with international auditing standards. The plus elements do two things - to incorporate elements of previous UK SASs where these are not covered by the existing ISA, and to include local legal requirements. While UK standards have historically included the requirements of existing ISAs, there have been several major changes in the last year which will mean significant new requirements for auditors and require them to overhaul their approach and methodology. The ISA pluses are effective for audits of accounting periods commencing on or after 15 December 2004.
Read the full article of Maintaining an international standard which appeared in the May 2005 edition of Charity Finance.
Maintaining an international standard
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