The Authority Approves the Limited Amendments to International Auditing Standards No. 260 and No. 700

الهيئة تعتمد التعديلات المحدودة على المعيارين الدوليين للمراجعة رقم 260 ورقم 700

The Saudi Organization for Chartered and Professional Accountants, represented by the Auditing Standards Board, has approved the limited amendments issued by the International Auditing and Assurance Standards Board to International Auditing Standard No. 260 "Communication with Those Charged with Governance" and International Auditing Standard No. 700 "Forming an Opinion and Reporting on Financial Statements," adopted as issued by the international board. The amendments to ISA 260 relate to disclosure requirements when communicating with those charged with governance regarding the application of different independence requirements specific to the audit of public interest entities, while the amendments to ISA 700 concern the use of the audit report to apply the ethical requirements mandating disclosure of adherence to different independence requirements for such entities. Both sets of amendments aim to achieve alignment with the updated independence requirements in the International Code of Ethics for Professional Accountants regarding public interest entities.

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