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ASA 800 - Special Considerations—Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks - July 2016
Considerations When Accepting the EngageConsiderations When Accepting the Engagement
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Considerations When Accepting the Engagement
Acceptability of the Financial Reporting Framework
- ASA 210 requires the auditor to determine the acceptability of the financial reporting framework applied in the preparation of the financial report.[3] In an audit of a special purpose financial report, the auditor shall obtain an understanding of: (Ref: Para. A5–A8)
- The purpose for which the financial report is prepared;
- The intended users; and
- The steps taken by management to determine that the applicable financial reporting framework is acceptable in the circumstances.