ISA's

Question 1

ISA 200

Answer 1

Overall objectives - to obtain reasonable assurance and issue opinion

Question 2

ISA 240

Answer 2

Fraud - identify material misstatement from fraud

Question 3

ISA 250

Answer 3

Responsibility to consider laws and regulations.

Question 4

ISA 300

Answer 4

Requires auditors to plan the audit effectively

Question 5

ISA 315

Answer 5

Identifying material misstatement in general (the entity, its environment)

Question 6

ISA 330

Answer 6

Planning how the auditor will react to assessed risks (higher risk, more evidence required)

Question 7

ISA 500

Answer 7

Evidence - obtaining sufficient and appropriate evidence

Question 8

ISA 520

Answer 8

Requires to use analytical procedures

Question 9

ISA 540

Answer 9

Requires the assessment of accounting estimates, e.g. depreciation, provisions, impairments.

Question 10

ISA 570

Answer 10

Is the entity a going concern

Question 11

ISA 700

Answer 11

Sets out how an unmodified audit opinion should be written and presented

Question 12

ISA 705

Answer 12

Sets out how a modified audit opinion should be written and presented

Question 13

ISA 510

Answer 13

Opening balances

Question 14

ISA 210

Answer 14

Preconditions for audit (LOE)