Amendments to ISA 810

In September 2014, the IAASB unanimously approved its new and revised Auditor Reporting standards and related conforming amendments. These standards were released in January 2015 and are effective for audits of financial statements for periods ending on or after December 15, 2016.

In finalizing these standards, the IAASB agreed that it would be in the public interest to consider how the changes in the new and revised Auditor Reporting standards affect ISA 810. The amendments to ISA 800, Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks and ISA 805, Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement will be made in a seperate project because of the different nature of an engagement to report on summary financial statements.

At its June 2015 meeting, the IAASB approved for exposure limited conforming amendments to ISA 810. An exposure draft was issued on August 3, 2015, with a 90 day comment period. The proposed effective date of the proposed limited conforming amendments would be for engagements to report on summary financial statements for periods ending on or after December 15, 2016.