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ISCA Issues Updated Auditing and Assurance Pronouncements Arising from Revised Legislation Titles

The updates of legislation titles in the Auditing and Assurance Pronouncements are editorial amendments to align the short titles of the Singapore Acts of Parliament currently referenced in the ISCA Auditing and Assurance Pronouncements to the revised short titles arising from the 2020 Revised Editions of Acts[1].

The updated ISCA Auditing and Assurance Pronouncements[2] would be effective from 4 August 2022.

[1] The Law Revision Commission and the Attorney-General’s Chambers (AGC) have completed a universal revision of Singapore’s Acts of Parliament, which came into force on 31 December 2021. The revisions impacting the suite of Auditing and Assurance standards were limited to only the inclusion of the year that the Acts were enacted in the short title instead of chapter numbers. 


[2] The updated Pronouncements include:

  • Glossary of Terms
  • SSA 210 Agreeing the Terms of Audit Engagements
  • SSA 220 Quality Control for an Audit of Financial Statements
  • SSA 510 Initial Audit Engagements – Opening Balances
  • SSA 570 (Revised) Going Concern
  • SSA 600 Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors)
  • SSA 700 (Revised) Forming an Opinion and Reporting on Financial Statements
  • SSA 705 (Revised) Modifications to the Opinion in the Independent Auditor’s Report
  • SSA 706 (Revised) Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
  • SSA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements
  • SSA 720 (Revised) The Auditor’s Responsibilities Relating to Other Information
  • SSA 810 (Revised) Engagements to Report on Summary Financial Statements
  • SSQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements
  • SSRS 4400 Engagements to Perform Agreed-Upon Procedures Regarding Financial Information
  • SSRS 4400 (Revised) Agreed-Upon Procedures Engagements
  • SSRS 4410 Compilation Engagements
  • SAP 2 (Revised 2022) Auditors and Public Offering Documents
  • SAP 3 Audit of Listed Companies
  • AGS 1 Sample Independent Auditor’s Reports
  • AGS 5 (Revised) Audits of Entities in Specific Industries, Professions or Vocations
  • AGS 9 Opinion on Receipts, Expenditure, Investment of Moneys and the Acquisition and Disposal of Assets by Statutory Boards
  • AGS 10 Joint Audits
  • AGS 11 Comfort Letters and Due Diligence Meetings