New Technology-Focused FAQ Available

10 January 2022
Auditing and Assurance
South African Accounting Academy

This publication highlights the impact of technology when applying certain aspects of the International Standards on Auditing (ISAs). It focuses on specific considerations for planning an audit in accordance with ISA 300, Planning an Audit of Financial Statements, that may be relevant when using automated tools and techniques.

This publication does not amend or override the ISAs, the texts of which alone are authoritative. Reading the publication is not a substitute for reading the ISAs. In conducting an audit in accordance with ISAs, auditors are required to comply with all the ISAs that are relevant to the engagement. The questions addressed in this publication are not exhaustive and the examples are provided for illustrative purposes only

Click here to download the Guidance document:

https://www.ifac.org/system/files/publications/files/IAASB-Automated-Tools-Techniquest-Audit-Planning-Guidance.pdf

How does this affect you and your clients?

Relevance to Auditors, Independent Reviewers & Accountants:

As an auditor and independent reviewer, you need to understand the impact of technology when applying certain aspects of the International Standards on Auditing (ISAs).
You should also focus on specific considerations when using the capabilities of automated tools and techniques (ATT) and when using information produced by the entity’s systems.

Relevance to Your clients:

Your clients only need to understand that you may use ATTs to obtain information from their systems.

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