SAPNs do not impose additional requirements on auditors beyond those included in the SSAs, nor do they change the auditor's responsibility to comply with all SSAs relevant to the audit. SAPNs are non-authoritative but provide useful practical assistance to auditors. They provide reference materials that firms can use in developing their training programmes and internal guidance.
Depending on the nature of the topic(s) covered, a SAPN may assist the auditor in:
Obtaining an understanding of the circumstances of the entity, and in making judgements about the identification and assessment of risks of material misstatement;
Making judgements about how to respond to assessed risks, including judgements about procedures that may be appropriate in the circumstances; or
Addressing reporting considerations, including forming an opinion on the financial statements and communicating with those charged with governance.
Special Considerations in Auditing Financial Instruments