Conformity with International Standards Conformity with International Standards on Auditing

Conformity with International Standards on Auditing

39 Except as noted below, this Auditing Standard conforms with International Standard on Auditing ISA 230 Audit Documentation, issued by the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants. The main differences between this Auditing Standard and ISA 230 are:

• This Auditing Standard makes reference to the quality control requirements for firms issued by a professional accounting body. ISA 230 refers to the International Standard on Quality Control (ISQC) 1 issued by the IAASB.
• This Auditing Standard includes a mandatory requirement that the auditor shall document discussions of significant matters with those charged with governance (paragraph 18). ISA 230 includes this as explanatory guidance.
• This Auditing Standard includes a mandatory requirement that, where the auditor is unable to comply with an essential procedure contained within a relevant mandatory requirement, the auditor shall document certain matters (paragraph 23). In ISA 230, the auditor is required to document certain matters where the auditor has judged it necessary to depart from a mandatory requirement.
• This Auditing Standard requires the auditor to adopt appropriate procedures for maintaining the confidentiality, safe custody, integrity, accessibility and retrievability of the audit documentation (paragraph 37). ISA 230 does not contain any requirement for the auditor to maintain the confidentiality, safe custody, integrity, accessibility and retrievability of the audit documentation.

Compliance with this Auditing Standard enables compliance with ISA 230.