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AGS 1, Sample Independent Auditor’s Reports

The Auditing and Assurance Standards Committee (AASC) had commenced on the revision of Audit Guidance Statement 1 (AGS 1) Sample Independent Auditor’s Reports in 2015. As the different Appendices in AGS 1 relate to different auditing/assurance standards which in turn had different effective dates, the AASC would carry out revision for AGS 1 over three phases.

The first phase would involve the revision of Appendix 3- Sample Independent Assurance Reports on SSAE 3000 (Revised) Assurance Engagements Other Than Audits or Reviews of Historical Financial Information, given that the revised SSAE 3000 would be effective for assurance reports dated on or after 15 December 2015 .

The relevant regulatory bodies had been consulted on the sample assurance reports and the sample assurance reports would be effective for reports dated on or after 15 December 2015.

ISCA requires all comments to be submitted to technical@isca.org.sg by 12 November 2015.

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