Staff Questions & Answers - Auditor Considerations Regarding Significant Unusual or Highly Complex Transactions

This IAASB Staff Q&A highlights considerations in the International Standards on Auditing (ISAs) that are relevant to auditing transactions that are significant unusual or highly complex, judged in the light of the auditor's understanding of the entity and its environment and other information obtained during the audit. Because of their nature, these transactions may give rise to risks of material misstatement of the financial statements and, accordingly, may merit heightened attention by auditors. Auditors of the financial statements of entities of all sizes may find this Q&A helpful in addressing the audit of such transactions. This publication has been developed in response to specific requests for information on how the ISAs deal with this particular topic.