A54. Documentation of oral communication may include a copy of minutes prepared by the entity retained as part of the audit documentation where those minutes are an appropriate record of the communication. Appendix 1 (Ref: Para. 3) Specific Requirements in PSQC 1 and Other PSAs that Refer to Communications with Those Charged With Governance This appendix identifies paragraphs in PSQC 1 and other PSAs that require communication of specific matters with those charged with governance. The list is not a substitute for considering the requirements and related application and other explanatory material in PSAs. PSQC 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements paragraph 30(a) – PSA 240, The Responsibilities Relating to Fraud in an Audit of Financial Statements Auditor’s – paragraphs 21, 38(c)(i) and 40-42 PSA 250, Consideration of Laws and Regulations in an Audit of Financial Statements paragraphs – 14, 19 and 22–24 PSA 265, Communicating Deficiencies in Internal Control to Those Charged with Governance and Management paragraph 9 – PSA 450, paragraphs 12-13 Evaluation of Misstatements Identified during the Audit – PSA 505, External Confirmations paragraph 9 – PSA 510, Initial Audit paragraph 7 Engagements―Opening Balances – PSA 550, Related Parties paragraph 27 – PSA 560, Subsequent Events paragraphs 7(b)-(c), 10(a), 13(b), 14(a) and 17 – PSA 570 (Revised), Going Concern paragraph 25 – PSA 600, of Group Financial Statements (Including the Work of Special Considerations―Audits Component Auditors) paragraph 49 – PSA 610 (Revised), Using the Work of Internal Auditors paragraph 18; PSA 610 (Revised 2013), – Using the Work of Internal Auditors paragraphs 20 and 31 – PSA 700 (Revised), Forming an Opinion and Reporting on Financial Statements paragraph 45 – PSA 701, Communicating Key Audit Matters in the Independent Report paragraph 17 Auditor’s – PSA 705 (Revised), Modifications to the Opinion in the Independent Report paragraphs Auditor’s – 12, 14, 23 and 30
A54. Documentation of oral communication may include a copy of minutes prepared by the entity retained as part of the audit documentation where those minutes are an appropriate record of the communication. Appendix 1 (Ref: Para. 3) Specific Requirements in PSQC 1 and Other PSAs that Refer to Communications with Those Charged With Governance This appendix identifies paragraphs in PSQC 1 and other PSAs that require communication of specific matters with those charged with governance. The list is not a substitute for considering the requirements and related application and other explanatory material in PSAs. PSQC 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements – paragraph 30(a) PSA 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements – paragraphs 21, 38(c)(i) and 40-42 PSA 250, Consideration of Laws and Regulations in an Audit of Financial Statements – paragraphs 14, 19 and 22–24 PSA 265, Communicating Deficiencies in Internal Control to Those Charged with Governance and Management – paragraph 9 PSA 450, Evaluation of Misstatements Identified during the Audit – paragraphs 12-13 PSA 505, External Confirmations – paragraph 9 PSA 510, Initial Audit Engagements―Opening Balances – paragraph 7 PSA 550, Related Parties – paragraph 27 PSA 560, Subsequent Events – paragraphs 7(b)-(c), 10(a), 13(b), 14(a) and 17 PSA 570 (Revised), Going Concern – paragraph 25 PSA 600, Special Considerations―Audits of Group Financial Statements (Including the Work of Component Auditors) – paragraph 49 PSA 610 (Revised), Using the Work of Internal Auditors – paragraph 18; PSA 610 (Revised 2013), Using the Work of Internal Auditors – paragraphs 20 and 31 PSA 700 (Revised), Forming an Opinion and Reporting on Financial Statements – paragraph 45 PSA 701, Communicating Key Audit Matters in the Independent Auditor’s Report – paragraph 17 PSA 705 (Revised), Modifications to the Opinion in the Independent Auditor’s Report – paragraphs 12, 14, 23 and 30
PSA-260-Revised-clean.docx