ISA 600: Fact sheet

27 May 2022
Accounting
South African Accounting Academy

It highlights significant changes in the standard, intended outcome of those changes, and how scalability is addressed in the revised standard.

The key changes focus on:

encouraging proactive quality management at the engagement level;
keeping the group audit standard fit for purpose; and
emphasizing the importance of professional skepticism throughout the audit

Click here to download the Fact Sheet:

https://media-exp1.licdn.com/dms/document/C561FAQFJ47gHQ_iG7A/feedshare-document-pdf-analyzed/0/1651091779832?e=2147483647&v=beta&t=p1KbjYKbvARhtf20qWTaTLmsBzvC9ejuDiZSn0DkZBs

Relevance to Auditors, Independent Reviewers & Accountants:

As an auditor and independent reviewer, you need to comply with International Standards on Auditing and other Assurance Services, and thus you need knowledge of newly revised standards that are approved as well as when they become effective.
Failure to adhere to ISAs may be interpreted as negligence and you could be held liable.

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