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The inspection reports do not contain detailed ISA references. Why are these not included?

Findings contained in the inspection reports may relate to a number of ISAs or other requirements, all of which would not be disclosed in the report. Reports will however note whether a particular requirement comes from auditing standards, legislation or firm’s own policies and procedures and this information will be considered in the rating process.

Where a requirement is listed in more than one source, IAASA will reference the source highest on the following hierarchy:-

1. Legislation

2. Auditing standards

3. Firm policy