ISA 720 - The Auditor’s Responsibilities Relating to Other Information

 ISA 720 is effective for audits of financial statements for periods ending on or after December 15, 2016.

The ISA deals with the auditor’s responsibilities relating to other information, whether financial or non-financial information (other than financial statements and the auditor’s report), included in an entity’s annual report. The objective of the auditor is to consider whether there is a material inconsistency between the other information and the financial statements.

ISA 720 defines requirements regarding obtaining the other Information, reading, and considering the other information, responding when a material Inconsistency or material misstatements exist, reporting and documentation.

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