The International Auditing and Assurance Standards Board has proposed two new standards focusing on enhancing auditors’ consideration of controls at service organizations, along with a third standard that addresses the communication of deficiencies in internal control to those charged with governance.

The proposed International Standard on Auditing (ISA) 402 (Revised and Redrafted), "Audit Considerations Relating to an Entity Using a Third Party Service Organization," deals with the auditor’s responsibilities to obtain audit evidence when a client uses one or more service organizations.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access