Appendix No. 13
to the Order of the Ministry of Finance of the Russian Federation of November 9, 2016 No. 207n
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".
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).
<1> MCA 701 "Informing on key questions of audit in audit opinion".
3. MCA 570 (reviewed) <1> and MSA 720 (reviewed) <2> establish requirements and contain instructions concerning provision in audit opinion of data on going concern and other information respectively.
<1> MCA 570 (reviewed) "Going concern".
<2> 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).
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 matters for understanding users of process and results of audit, obligations of the auditor or content of audit opinion.
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