Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

The document ceased to be valid since   February 12, 2019 according to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n

Appendix No. 8

to the Order of the Ministry of Finance of the Russian Federation of November 9, 2016 No. 207n

International standard of audit 580th "Written applications"

The International Standard of Audit (ISA) 580 it is necessary to consider "Written applications" 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 the auditor's obligations concerning receipt of written applications from management and if it is pertinent, from persons who are responsible for corporate management during financial records audit.

2. Other MSA which contain requirements to written applications from the point of view of subject domain of the corresponding standard are given in Appendix 1. Special requirements of other MSA to written applications do not limit application of this standard.

Use of written applications as auditor proofs

3. Auditor proofs are the information used by the auditor when forming conclusions on which the opinion of the auditor is based <1>. Written applications are necessary information for the auditor in connection with financial records audit of the organization. Therefore, written applications, as well as replies to the requests, represent auditor proofs (see Item A 1).

--------------------------------

<1> MCA 500 "Auditor proofs", Item 5(c).

4. Written applications give to the auditor necessary auditor proofs, however in itself they do not provide sufficient competent auditor evidences concerning those questions which in them are considered. Besides, the fact of provision by management of reliable written applications does not influence nature and amount of other auditor evidence which the auditor obtains concerning execution by management of the obligations or concerning specific prerequisites.

The effective date

5. This standard becomes effective concerning financial records audit for the periods beginning on December 15, 2009 or after this date.

Purposes

6. The purpose of the auditor consists in that:

(a) receive from management and if it is pertinent, from persons who are responsible for corporate management, written applications that, in their opinion, they fulfilled the obligations on preparation of the financial reporting and provision of the complete information to the auditor;

(b) confirm other auditor proofs connected with the financial reporting or certain prerequisites of financial reporting preparation by means of written applications if the auditor considered such confirmation necessary or if it is required according to other MSA;

(c) take proper actions in response to written applications of management and if it is pertinent, persons who are responsible for corporate management and also if management or if it is pertinent, persons who are responsible for corporate management do not provide the written applications requested by the auditor.

Determinations

7. For the purposes of International standards of audit the following term has the stated below value:

the written application - the written application of management provided to the auditor for confirmation of certain facts or for reinforcement of other auditor proofs. In this context written applications do not include the financial reporting, prerequisites of its preparation or confirmatory registers and records.

8. For the purposes of this standard use of the term "management" means "management and if it is pertinent, persons who are responsible for corporate management". Besides, in case of use of the concept of fair presentation the management bears responsibility for preparation and fair presentation of the financial reporting according to the applicable concept of preparation of the financial reporting or for financial reporting preparation which gives truthful and fair idea according to the applicable concept of preparation of the financial reporting.

Requirements

Heads from whom written applications are requested

9. The auditor shall request written applications from members of the administrative board who bear the corresponding responsibility for the financial reporting and possess information on cases in point (see the Items A2 - A 6).

The written applications concerning management obligations

Preparation of the financial reporting

10. The auditor shall send to management inquiry, that the management provided the written application, confirmatory that it executed the obligations on preparation of the financial reporting according to the applicable concept of preparation of the financial reporting, including where it is pertinent, its fair presentation as that is required by conditions of the audit engagement <1> (see the Items A7 - A 9, A 14, A 22).

--------------------------------

<1> MCA 210 "Coordination of conditions of audit engagements", Item 6(b)(i).

Provided information and completeness of reflection of transactions

11. The auditor shall request from management the written application, confirmatory that:

(a) the management provided to the auditor all necessary information and access to resources as that is required by conditions of the audit engagement <1>;

--------------------------------

<1> MSA 210, Item 6(b) (iii).

(b) all transactions were reflected in accounting and are provided in the financial reporting (see the Items A7 - A 9, A 14, A 22).

The description of obligations of management in written applications

12. Obligations of management shall be stated in the written applications provided in Items 10 and 11, in the same way as they are stated in the conditions of the audit engagement.

Other written applications

13. According to other MSA the auditor shall request written applications. If, in addition to request of such statements, the auditor considers that he needs to receive one or several written applications for confirmation of the other auditor proofs concerning the financial reporting or these or those prerequisites of preparation of the financial reporting, he shall request such additional written applications (see the Items A10 - A 13, A 14, A 22).

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.