{"id":2077,"date":"2020-02-06T14:31:14","date_gmt":"2020-02-06T13:31:14","guid":{"rendered":"https:\/\/www.ecovis.com\/guatemala\/?p=2077"},"modified":"2021-08-30T14:24:52","modified_gmt":"2021-08-30T12:24:52","slug":"changes-in-international-auditing-standards","status":"publish","type":"post","link":"https:\/\/www.ecovis.com\/guatemala\/blog\/2020\/02\/06\/changes-in-international-auditing-standards\/","title":{"rendered":"Changes in International Auditing Standards"},"content":{"rendered":"

The main changes in the International Auditing Standards, were not superficial since reforms designed to significantly improve audit reports for investors and other users of the financial statements (banks, shareholders, customers, suppliers, the government sector, etc.) are included. The rules concerning to the report or CPA opinion. (International Auditing Standards, sections 700 and 800), adding a new ISA 701 with key or relevant audit issues (“Key Audit Matters -KAM). <\/p>\n

As we know, the opinion is the final product of the audit that is presented in the conclusion phase of the audit, which is read and analyzed by all users of the financial information that will make decisions of the report. In order to incorporate the changes in the sections of an opinion formation or report (sections 700 and 800 of the International Auditing Standards) it was necessary to review all the support of these International Auditing Standards, making changes ranging, from the planning phase, through the development and conclusions of audit work of financial statements.<\/p>\n

Audit changes related to the planning and risk assessment phase:<\/h4>\n

ISA 200 and 330<\/p>\n

    \n
  1. Global objectives of the independent auditor and performance of the audit in accordance with ISAs.\n
      \n
    • Se agrega el que una \u201cuna divulgaci\u00f3n explicativa o descriptiva de la informaci\u00f3n que se requiere seg\u00fan lo permita el marco de referencia aplicable, en la portada de los estados financieros, en notas o incorporado en referencias cruzadas (Ver nuevo p\u00e1rrafo A, 12 Bb de NIA 330).<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n

      ISA 240<\/p>\n

        \n
      1. The auditor’s responsibility in auditing financial statements relating to fraud.\n
          \n
        • An “international fraud” opinion is added through: omission, or losing disclosures required, disclosures necessary to achieve a reasonable presentation by application of reference framework.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

          The main changes in the International Auditing Standards, were not superficial since reforms designed to significantly improve audit reports for investors and other users of the financial statements (banks, shareholders, customers, suppliers, the government sector, etc.) are included. The rules concerning to the report or CPA opinion. (International Auditing Standards, sections 700 and 800), adding […]<\/p>\n","protected":false},"author":10,"featured_media":2277,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20],"tags":[],"class_list":["post-2077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nChanges in International Auditing Standards - Ecovis in Guatemala<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecovis.com\/guatemala\/blog\/2020\/02\/06\/changes-in-international-auditing-standards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Changes in International Auditing Standards - Ecovis in Guatemala\" \/>\n<meta property=\"og:description\" content=\"The main changes in the International Auditing Standards, were not superficial since reforms designed to significantly improve audit reports for investors and other users of the financial statements (banks, shareholders, customers, suppliers, the government sector, etc.) are included. The rules concerning to the report or CPA opinion. 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