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i understand we dont get any extra marks for stating the number of a standard but my question is are we required to give the name of the standard in our answer when we are referring to it.
for example if i am referring to ISA 315 identifying and Assessing the risks of material misstatement through Understanding the entity and its environment if i forget the wording of this title can i just refer to it by staying ‘a parent company is required to understand the entity, and its environment and its internal control…..
THank you in advance for your help
No – neither name nor # are required and that’s absolutely the right approach (but understanding the entity is a requirement of the auditor – nothing to do with parent).
There is another explanation on this post https://opentuition.com/topic/isa-11/
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