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Standard on Auditing (SA) 720 (Revised)
The Auditors Responsibilities Relating to Other Information
Contents
Paragraph(s)
Introduction
Scope of this SA ................................................................................................................
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How to fill out standard on auditing sa
How to fill out standard on auditing sa
01
Familiarize yourself with the standard on auditing SA, which provides guidance on how to conduct an audit.
02
Understand the objective of the audit and the responsibilities of the auditor.
03
Review the audit documentation requirements and ensure that all necessary documents are available.
04
Identify the key areas to be audited and develop an audit plan.
05
Conduct the audit by gathering evidence and performing audit procedures.
06
Evaluate the findings and form an opinion based on the audit evidence.
07
Communicate the results of the audit to the appropriate stakeholders, including management and those charged with governance.
08
Prepare the audit report, documenting the scope, findings, and conclusions of the audit.
09
Review the audit work and ensure compliance with the standard on auditing SA.
10
Follow up on any follow-up actions or recommendations from the audit.
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01
Standard on auditing SA is needed by auditors, accounting firms, and organizations that require independent and objective assurance on their financial statements.
02
It is also beneficial for regulators, investors, and other stakeholders who rely on audited financial statements to make informed decisions.
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In summary, anyone involved in auditing or using audited financial statements can benefit from the standard on auditing SA.
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