Audit & Assurance

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ISCA Issues Audit Bulletin (AB) 10 on Key Revisions to SSA 570 (Revised 2024)

To support the implementation of SSA 570 (Revised 2024) Going Concern, ISCA has issued AB 10 which highlights key changes, including enhanced risk assessment procedures, the requirement to evaluate management’s going concern assessment in all audits, an extended assessment period, and strengthened reporting and communication requirements. The bulletin also provides practical reminders for auditors, management and those charged with governance, covering areas such as early planning, timely documentation and effective communication throughout the audit.

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ISCA Comments on IAASB’s Exposure Draft: Proposed ISRE 2410 (Revised)

While supportive of the proposed standard overall, ISCA raised concerns that certain proposals could blur the distinction between an interim review and a financial statement audit. In particular, requiring an explicit going concern statement in every interim review report could widen the expectation gap by implying a higher level of assurance than intended in a limited assurance engagement.

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ISCA Issues Audit Bulletin (AB) 9 on Inclusion of Public Accountant’s Name in Auditor’s Report

The introduction of Section 59A to the Accountants Act requires auditor’s reports issued by a public accountant or an accounting entity that fall within the scope of Section 59A(4) to clearly state the full name of the public accountant responsible for the audit engagement, regardless of the auditing standards applied. Previously, this requirement was only applicable for listed entities under the SSAs. Since Section 59A of the Accountants Act became applicable to auditor’s reports dated on or after 6 May 2026, questions have arisen regarding the application of the requirements under Section 59A(4). Drawing on these implementation queries, this Audit Bulletin has been prepared to provide responses to frequently asked questions and assist public accountants in applying the new requirements.

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ISCA Issues Audit Bulletin (AB) 8 Key Considerations in Auditing Valuation of Unquoted Equity Investments

With limited observable market data, valuation of unquoted equity investments can involve professional judgement and present significant challenges. This is also an area where recurring inspection findings have been observed. ISCA developed AB 8 to highlight key considerations for auditors when designing and performing procedures over the valuation of unquoted equity investments measured at fair value

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ISCA Issues Audit Bulletin (AB) 3 (Revised Nov 2025) Implementation of Quality Management Standards

This audit bulletin contains frequently asked questions (“FAQs”) to assist firms in the implementation of the quality management standards1. AB 3 has been updated to incorporate three new FAQs, providing considerations on time tracking, independence verification and monitoring of completed engagements.

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ISCA Issues Audit Bulletin (AB) 7 Considerations over External Confirmation Procedures

ISCA developed AB 7 to highlight certain key considerations for the auditor when designing and performing external confirmation procedures. The AB illustrates how some of these considerations apply in several scenarios where external confirmation procedures are used, including: • Obtaining confirmation from a bank in a foreign jurisdiction • Obtaining confirmation on escrow accounts • Relying on a confirmation for the valuation of investments in unquoted funds

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