New York (July 14, 2004) -- The International Auditing and Assurance Standards Board of the International Federation of Accountants has released ISA 300 -- a revised standard that requires auditors to be more thorough in planning their audits.
The revised ISA 300, Planning an Audit of Financial Statements, enhances the audit risk standards that the IAASB issued last year, and requires that the auditor plan the audit so that the engagement will be performed in “an effective manner.”
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