Page 18 - Internal Auditing Standards

Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities Volume 1—Core Concepts

Volume and Chapters
ISA/
ISQC 1 V1 = Volume 1
Reference V2 = Volume 2
550 Related Parties V1-12

560 Subsequent Events V1-13
570 Going Concern V1-14
580 Written Representations V2-19
600 Special Considerations—Audits of Group Financial Statements V1-15
(Including the Work of Component Auditors)
610 Using the Work of Internal Auditors V1-15

620 Using the Work of an Auditor’s Expert V1-15
700 Forming an Opinion and Reporting on Financial Statements V1-3, 17
705 Modifications to the Opinion in the Independent Auditor’s Report V2-23

706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the V2-24
Independent Auditor’s Report
710 Comparative Information—Corresponding Figures and Comparative V2-25
Financial Statements
720 The Auditor’s Responsibilities Relating to Other Information in V1-15
Documents Containing Audited Financial Statements
800 Special Considerations—Audits of Financial Statements Not addressed
Prepared in Accordance with Special Purpose Frameworks
805 Special Considerations—Audits of Single Financial Statements and Not addressed

Specific Elements, Accounts, or Items of a Financial Statement
810 Engagements to Report on Summary Financial Statements Not addressed

ISAs 800, 805, and 810 were considered to have limited application in the audits of SMEs at the present time,
so this edition of the Guide does not specifically address them.

The following table cross-references the Guide’s chapters to the principal ISA Chapters addressed.

Note: This table provides a general cross-reference only. Many chapters in this Guide cover aspects
addressed by more than one particular ISA.

ISA /ISQC 1
Chapter Title Reference
V1 – 3 The Risk-Based Audit—Overview Multiple
V1 – 4 Ethics, ISAs, and Quality Control ISQC 1, 200, 220

V1 – 5 Internal Control—Purpose and Components 315
V1 – 6 Financial Statement Assertions 315
V1 – 7 Materiality and Audit Risk 320
V1 – 8 Risk Assessment Procedures 240, 315

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