Title | 22012 1 AA standards flowchart Rebranded NZ Jan 2021 |
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Course | Accounting Auditing |
Institution | University of Utah |
Pages | 3 |
File Size | 272.6 KB |
File Type | |
Total Downloads | 62 |
Total Views | 149 |
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Which NZ auditing and assurance standards apply to my engagement? Are you providing assurance over historical financial information?
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Yes Are you performing an audit or a review?
Apply NZ SRE 2410 Review of Historical Financial Statements Performed by the Independent Auditor of the Entity
No
Yes Review
Are you the auditor of the entity? No
Apply ISRE (NZ) 2400 Review of Historical Financial Statements Performed by an Assurance Practitioner
Audit
Are you providing assurance over a full financial report?
No
Is it a single element of a financial report or an account balance?
No
Are you providing assurance over a summary financial report?
Yes Yes Is the financial report a general purpose financial report?
Apply ISAs (NZ) and report under ISA (NZ) 805
Yes No Apply ISAs (NZ) and report under ISAs (NZ) 700, 701, 705, 706 and 720
© Chartered Accountants Australia and New Zealand ABN 50 084 642 571 (CA ANZ). Formed in Australia. Members of CA ANZ are not liable for the debts and liabilities of CA ANZ.
Apply ISAs (NZ) and report under ISA (NZ) 800
Yes
Apply ISA (NZ) 810
This flowchart is designed to assist practitioners in determining the applicable auditing and assurance standards for an engagement. Practitioners should refer to the full text of the standards to make their final decision.
Which NZ auditing and assurance standards apply to my engagement? ISAE (NZ) 3000 is the overarching standard for assurance engagements in relation to information other than historical financial information. Other standards provide guidance on specific types of engagements but practitioners must also comply with ISAE (NZ) 3000 when applying these standards. Note that all these standards provide guidance on both reasonable assurance and limited assurance engagements. Are you providing:
Specific standard applicable to the engagement in addition to ISAE (NZ) 3000
Assurance over the entity’s compliance with the terms of a contract, law or regulation?
SAE 3100 Compliance Engagements
Assurance over internal controls?
SAE 3150 Assurance Engagements on Controls
Assurance over the internal controls of a service organisation?
ISAE (NZ) 3402 Assurance Reports on Controls at a Service Organisation
Assurance in relation to greenhouse gas emissions?
ISAE (NZ) 3410 Assurance Engagements on Greenhouse Gas Statements
Assurance over the compilation of pro-forma financial information?
ISAE (NZ) 3420 Assurance Engagements to Report on The Compilation of Pro Forma Financial Information included in a Prospectus
For all other engagements in relation to assurance over non-historical financial information, ISAE (NZ) 3000 is the only applicable standard.
© Chartered Accountants Australia and New Zealand ABN 50 084 642 571 (CA ANZ). Formed in Australia. Members of CA ANZ are not liable for the debts and liabilities of CA ANZ.
Copyright © 2021 Chartered Accountants Australia and New Zealand ABN 50 084 642 571.
Disclaimer This Guide has been prepared for use by members of Chartered Accountants Australia and New Zealand (CA ANZ) in New Zealand only. It is not intended for use by any person who is not a CA ANZ member and/or does not have appropriate expertise in the subject matter. This Guide is intended to provide general information and is not intended to provide or substitute legal or professional advice on a specific matter. Laws, practices and regulations may have changed since publication of this Guide. Users should make their own inquiries as to the currency of relevant laws, practices and regulations. No warranty is given as to the correctness of the information contained in this Guide, or of its suitability for use by you. To the fullest extent permitted by law, CA ANZ is not liable for any statement or opinion, or for any error or omission contained in this Guide and disclaims all warranties with regard to the information contained in it, including, without limitation, all implied warranties of merchantability and fitness for a particular purpose. CA ANZ is not liable for any direct, indirect, special or consequential losses or damages of any kind, or loss of profit, loss or corruption of data, business interruption or indirect costs, arising out of or in connection with the use of this guide or the information contained in it, whether such loss or damage arises in contract, negligence, tort, under statute, or otherwise.
© Chartered Accountants Australia and New Zealand ABN 50 084 642 571 (CA ANZ). Formed in Australia. Members of CA ANZ are not liable for the debts and liabilities of CA ANZ....