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INTOSAI Financial Audit Guidelines (ISSAI 1000-2999) Presentation by [name and title]

INTOSAI Financial Audit Guidelines (ISSAI 1000-2999) Presentation by [name and title] [Date and place]. Why has INTOSAI developed ISSAIs for Financial Audit?. Need for detailed standards and guidance Cooperation with IFAC and IAASB ISAs are globally accepted

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INTOSAI Financial Audit Guidelines (ISSAI 1000-2999) Presentation by [name and title]

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  1. INTOSAI Financial Audit Guidelines (ISSAI 1000-2999) Presentation by [name and title] [Date and place]

  2. Why has INTOSAI developed ISSAIs for Financial Audit? • Need for detailed standards and guidance • Cooperation with IFAC and IAASB • ISAs are globally accepted • Increased quality, confidence and credibility

  3. What are the ISSAIs for Financial Audit? ISSAI ISA International Standard on Auditing Practice Note

  4. ISSAI hierarchy

  5. Invaluable international involvement

  6. ISAs – Content and Structure • Introduction • Scope of this ISA • Subject matter • Effective date • Objective(s) • Definition • Requirements • Application and other explanatory material

  7. PNs – Content and Structure • Background • Introduction to the ISA • Content of the Practice Note • Applicability of the ISA in public sector auditing • Additional guidance on public sector issues

  8. Reference to authoritative standards • ISSAIs for Financial Audit • ISAs • INTOSAI Fundamental Principles • Other relevant standards

  9. ISSAI Content Specialized areas Audit conclusions and reporting General principles and responsibilities Using the work of others Risk assessment and responses to assessed risks Audit evidence

  10. Objectives Risk Assessment Communication Some General Issues in Audits of Public Sector Entities Consideration of Laws and Regulations Materiality Identifying Fraud and Error

  11. How can the ISSAIs on Financial Audit be implemented in the national context? Initial assessment: • Implementation options • Requirements in national context • Current audit environment • Resources needed • Implementation process • Cooperation options

  12. The INTOSAI Financial Audit Guidelines • Give confidence and in our work as auditors credibility • Provide the basis for high audits quality • Are the basis for the in our operations professionalism

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