ISAs (Ireland) are based on ISAs (UK) as issued by the Financial Reporting Council (‘FRC’), which, in turn are based on the corresponding standards issued by the IAASB. The International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (the IESBA Code) was revised in July 2016 to address the professional accountant’s responsibility in relation to non-compliance with laws and regulations (NOCLAR). In response to these changes, the IAASB recently issued a revision of ISA 250, Consideration of Laws and Regulations in an Audit of Financial Statements, making limited amendments to ISA 250 (Revised) in order to address actual or perceived inconsistencies of approach between the NOCLAR provisions in the revised IESBA Code and the ISAs. Both IAASA and the FRC support these limited amendments and believe that they represent an improvement to the current standard.
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Home » Publications » Consultation on Proposal to Revise ISA (Ireland) 250 Section A
Other news
-
IAASA publishes Profile of the Profession 2023
IAASA has published its…
-
IAASA issues a revised version of ISA (Ireland) 505
Following public consultation, IAASA…
-
IAASA publishes reports on the quality assurance review of firms that audit public-interest entities
Increase in percentage of…
-
IAASA’s inspection insight series 4 – Engagement Quality Reviews
IAASA’s Audit Quality Unit…