Standard on auditing

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Standard on Auditing is a set of guidelines and procedures for auditors to follow while conducting an audit.

The Standard on Auditing provides guidance on the auditor's responsibilities, the audit process, and the reporting of audit findings.
It helps ensure that audits are conducted in a consistent and thorough manner.
Examples of standards include ISA 315, which outlines the auditor's responsibility to identify and assess the risks of material misstatement, and ISA 700, which sets out the requirements for the auditor's report.
The Standard on Auditing is issued by the International Auditing and Assurance Standards Board (IAASB) and is used by auditors around the world.
Compliance with the Standard on Auditing is mandatory for auditors who are members of professional accounting bodies.

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