IFAC Guide to Using ISAs in the Audits of SMEs, Fourth Edition
Small- and medium-sized practices (SMPs) may require practical support when implementing the International Standards on Auditing (ISAs) in audits of small- and medium-sized entities (SMEs). IFAC (International Federations of Accountants) has updated the Guide to Using ISAs in the Audits of SMEs, Fourth Edition (the Guide) to help firms efficiently and proportionally apply ISAs on SME audits.
This fourth edition is updated to reflect recent changes to the ISAs including International Auditing and Assurance Standards Board (IAASB) projects on:
o Auditor Reporting; o Disclosures; o The Auditor’s Responsibilities Relating to Other Information; and o Using the Work of Internal Auditors.