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Past Year Question – ISA

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Past Year Question – ISA

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by Ken Garrett.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • October 6, 2015 at 5:06 am #275112
    hayley47
    Member
    • Topics: 6
    • Replies: 2
    • ☆

    Which of the following statements, relating to International Standards on Auditing (ISAs), if any, is/are correct?
    (1) International Standards on Auditing (ISAs) are issued by the International Accounting Standards Board (IASB)
    and provide guidance on the performance and conduct of an audit
    (2) In the event that ISAs differ from local legislation in a specific country, auditors must comply with the
    requirements of the ISAs
    A 1 only
    B 2 only
    C Both 1 and 2
    D Neither 1 nor 2

    I choose A, but the answer is D. ISA is not a guide for us to do audit?

    October 6, 2015 at 7:45 am #275127
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10606
    • ☆☆☆☆☆

    A ISAs are issued by International Auditing and Assurance Standards Board (IAASB).

    B ISAs cannot overrule local legislation – if you don’t follow local legislation you could end up in prison.

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