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On January 31, 2019 No. 53639

Appendix No. 33

to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n

The international standard of audit 706 (reviewed) "the Sections "Important Circumstances" and "Other Data" in audit opinion"

The International Standard of Audit (ISA) 706 (reviewed) "the Sections "Important Circumstances" and "Other Data" in audit opinion" should be considered together with MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

Introduction

Scope of this standard

1. This International Standard of Audit (ISA) establishes obligations on additional informing in audit opinion in cases when the auditor considers necessary:

(a) draw attention of users to question or questions which are provided or opened in the financial reporting and are so important that have paramount value for understanding of the financial reporting its users, or

(b) draw attention of users to question or questions which are not provided or are not opened in the financial reporting, but matter for understanding users of process and results of audit, obligations of the auditor or content of audit opinion.

2. In MCA 701 <1> requirements are established and instructions for cases when the auditor determined availability of key questions of audit contain and informs on them in audit opinion. For cases when the auditor includes the Section "Key Questions of Audit" in audit opinion, in this standard the interrelation between key questions of audit and any other additional information given in audit opinion according to this standard is considered (see the Items A1 - A 3).

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<1> MCA 701 "Informing on key questions of audit in audit opinion".

3. MCA 570 (reviewed) <2> and MSA 720 (reviewed) <3> requirements establish and contain instructions concerning provision in audit opinion of data on going concern and other information respectively.

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<2> MCA 570 (reviewed) "Going concern".

<3> MCA 720 (reviewed) "The auditor's obligations relating to other information".

4. In Appendices 1 and 2 MSA containing special requirements according to which the auditor shall include the Section "Important Circumstances" or the Section "Other Data" in audit opinion are specified. In such cases requirements of this standard for form of these Sections are applied (see Item A 4).

The effective date

5. This standard becomes effective concerning financial records audit for the periods which are coming to an end on December 15, 2016 or after this date.

Purpose

6. The purpose of the auditor consists in that after forming of opinion on the financial reporting, when necessary to make, according to judgment of the auditor, to draw attention of its users to the following questions by accurate statement in audit opinion of the additional information:

(a) to question which is properly provided or opened in the financial reporting, but at the same time is so important that has paramount value for understanding of the financial reporting its users, or

(b) if necessary to any other question which is important for understanding users of process and results of audit, obligations of the auditor or content of audit opinion.

Determinations

7. For the purposes of International standards of audit the following terms have the stated below values:

(a) the Section "Important Circumstances" - the Section of audit opinion concerning question which is properly provided or opened in the financial reporting and which, according to judgment of the auditor, is so important that it has paramount value for understanding of the financial reporting its users;

(b) the Section "Other Data" - the Section of audit opinion concerning question which is not provided or is not opened in the financial reporting, but, according to judgment of the auditor, matters for understanding users of process and results of audit, obligations of the auditor or content of audit opinion.

Requirements

The Section "Important Circumstances" in audit opinion

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