Conformity with International Standards Conformity with International Standards on Auditing

Conformity with International Standards on Auditing

38 Except as noted below, this Auditing Standard conforms with International Standard on Auditing ISA 501 Audit Evidence – Additional Considerations for Specific Items Part C: Procedures Regarding Litigation and Claims, issued by the International Auditing and Assurance Standards Board of the International Federation of Accountants. The differences between this Auditing Standard and ISA 501 are:

• This Auditing Standard includes mandatory requirements and explanatory guidance dealing with the:

♦ receipt of an incomplete response from a lawyer in response to a representation letter, or where the lawyer’s response contains a material disagreement with management’s evaluation of particular legal matters (paragraphs 31 and 32);

♦ identification of legal matters subsequent to obtaining the representation letter (paragraphs 33‑37); and

♦ obtaining of audit evidence about legal matters where the entity’s employee lawyers have primary responsibility for legal matters (paragraphs 18-21).

• The Appendix to this Auditing Standard is not included in ISA 501.

Compliance with this Auditing Standard enables compliance with ISA 501.