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ASA 550 - Related Parties - October 2009
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Scope of this Auditing Standard
- This Auditing Standard deals with the auditor’s responsibilities relating to related party relationships and transactions in an audit of a financial report. Specifically, it expands on how ASA 315,[1] ASA 330,[2] and ASA 240[3] are to be applied in relation to risks of material misstatement associated with related party relationships and transactions.