Auditing and Financial Management:

September 15, 2007, letter commenting on the the IAASB's April 2007 proposed revisions to "ISA 200, Overall Objective of the Independent Auditor, and the Conduct of an Audit in Accordance with International Standards on Auditing"

Sep 15, 2007

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This letter provides the U.S. Government Accountability Office's (GAO) comments on the International Auditing and Assurance Standards Board's (IAASB) proposed revisions to ISA 200. Our comments on the proposed ISA address: (1) Financial Reporting Frameworks; (2) Scope of the ISA; (3) Considerations Specific to Audits of the Public Sector; (4) Discussing the Auditor's and Management's Responsibilities with Respect to Financial Statements; (5) Definitions; (6) Simplifying the Discussion on Applying, and Complying with, Relevant Requirements; and (7) Sufficient Appropriate Audit Evidence.