Amendments to ISA 810
The objective of this project is to develop amendments to ISA 810, Engagements to Report on Summary Financial Statements to explain how the enhancements resulting from the new and revised Auditor Reporting standards apply to engagements to report on summary financial statements.
The IAASB approved ISA 810 (Revised) at its December 2015 meeting. The limited amendments to ISA 810 (Revised) leverage the additional transparency in the auditor’s report on the audited financial statements resulting from the IAASB’s new and revised Auditor Reporting standards issued in January 2015, in particular ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and new ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report.
ISA 810 (Revised) will become effective at the same time as the auditor reporting standards addressing general purpose financial statements–for engagements to report on summary financial statements for periods ending on or after December 15, 2016.