2021 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements

This edition of the handbook includes:

• International Standard on Auditing (ISA) 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, replacing ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment. The handbook also incorporates in other relevant standards conforming and consequential amendments from ISA 315 (Revised 2019). ISA 315 (Revised 2019) is effective for audits of financial statements for periods beginning on or after December 15, 2021.
• The following standards, which are not yet effective, have been included in the back of Volumes 1, 2 and 3, as appropriate:
  • International Standard on Quality Management (ISQM) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements
  • ISQM 2, Engagement Quality Reviews
  • ISA 220 (Revised), Quality Management for an Audit of Financial Statements
  • Conforming and Consequential Amendments to Other ISAs Arising from the Quality Management Projects
  • ISA 600 (Revised), Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)
  • Conforming and Consequential Amendments to Other International Standards Arising from ISA 600 (Revised)
  • Conforming and Consequential Amendments to the IAASB’s Other Standards as a Result of the New and Revised Quality Management Standards
  • ISRS 4400 (Revised), Agreed-Upon Procedures Engagements