Mind Maps of

Assurance and
Other Standards
Framework of Assurance Engagements

1) Subject Matter

2) Criteria

3) Evidence

4) Report

5) 3 Party Relationship
- Responsible Party
- Practitioner
- Intended Users
 Direct Engagement
(Subject Matter)

vs

Attestation Engagement
(Subject Matter Information)
Link of ISRE 2400 with other ISAs - Similarities
ISAs Topic Relevant Paras of ISRE
2400

ISA-200 - Conduct of a Engagement in Accordance with ISAE/ISRE 18-23

- Complying with Relevant Requirements A15-A25
- Ethical Requirements
- Professional Skepticism
- Professional Judgment
ISA-210 - Acceptance & Continuance of Client Relationships & Engagements 29
A34-A35
ISA-210 - Preconditions 30-35
- Additional Considerations When Wording of Practitioner’s Report Is Prescribed by Law or A39-A51, A142
Regulation
ISA-210 - Agreeing the Terms of Engagement 36-37
A52-A53, A55
ISA-210 - Recurring Engagements 38-41
- Acceptance of a Change in the Terms of the Review Engagement A57-A62
- Request to Change Nature of Engagement
ISA-220 - Engagement Level Quality Control 24-28
ISQC-1 A26-A33
ISA-230 - Documentation 93-96, A145
ISA-240 - Fraud and non-compliance with laws or regulations 52
ISA-250 A92
ISA-260 - Communication with Management and Those Charged with Governance 42
A63-A69
ISA-315 - The Practitioner’s Understanding 45-46
A75-A78
A87,A89
ISA-320 - Materiality 43-44
A70-A74
ISA-330 - Specific Procedures 47-49
A79-A91
Link of ISRE 2400 with other ISAs - Similarities
ISAs Topic Relevant Paras of ISRE
2400
ISA 330 - Reconciling F/S to the Underlying Accounting Records 56
A94
ISA-330 - Evaluating Evidence Obtained from the Procedures Performed 66-68
A103-A105
ISA-450 - Evaluation of Misstatements
ISA-550 - Related parties 50-51
ISA-560 - Subsequent Events 58-60
ISA-570 - Going Concern 53-54
A93
ISA-580 - Written Representations 61-65
A100-A102
ISA-600 - Components of groups of entities A54
ISA-620 - Use of work performed by others 55
ISA-700 - Consideration of AFRF in Relation to the Financial Statements 69
A106-A110
ISA-700 - Qualitative Aspects of the Entity’s Accounting Practices 70, 71
A111-A112
ISA-700 - Form of the Conclusion 72
ISA-700 - Unmodified Conclusion 73-74
A113-A114
ISA-700 - The Practitioner’s Report 86
A118-A132
ISA-700 - Practitioner’s Report Prescribed by Law or Regulation A142
ISA-700 - Practitioner’s Report for Reviews Conducted in Accordance with Both Relevant Standards of a A143
Specific Jurisdiction and ISRE
ISA-700 - Other Reporting Responsibilities 91, 92
- Date of the Practitioner’s Report A135-A137
ISA-705 - Modified Conclusion 75-85
A117
ISA-706 - Emphasis of Matter Paragraphs 87, 89-90
- Other Matter Paragraphs
ISA-800 - Alerting Readers that the F/S Are Prepared in Accordance with a Special Purpose Framework 88
- Restriction on Distribution or Use A133, A134
Link of ISRE 2410 with other ISAs - Similarities

ISAs Topic Relevant Paras of

ISRE 2410

ISA-210 - Agreeing the Terms of Engagement 10-11

ISA-230 - Documentation 64
ISA-315 - The Practitioner’s Understanding 12-18
ISA-330 - Specific Procedures 19-24
ISA 330 - Reconciling F/S to the Underlying Accounting 25
Records
ISA-450 - Evaluation of Misstatements 30-33
ISA-560 - Subsequent Events 26
ISA-570 - Going Concern 27-28
55-60
ISA-580 - Written Representations 34-35
ISA-700 - The Practitioner’s Report 43
ISA-700 - Practitioner’s Report Prescribed by Law or 44
Regulation
ISA-705 - Modified Conclusion 45-54
ISA-720 - Responsibilities for accompanying information 36-37
 Comparison of Review Engagements
(ISRE 2400 vs ISRE 2410)

ISRE 2400 ISRE 2410

Words used for Reviewer Practitioner Auditor

Status of the Reviewer Practitioner is not the Same Auditor who

auditor of the entity’s F/S performed audit of F/S

Period of F/S Full Year Interim

 Related Services
(ISRS)

ISRS 4400 ISRS 4410

Title Agreed upon Procedures Compilation Engagements

regarding financial information
(Fact Finding)

Important Paras PARA 1 & 8 PARA 1, 5, 6, 17, 24, 29-40

Appendix - Engagement Letter - Engagement Letter

- A Report of Factual Findings - 5 Compilation Reports
Link of ISAE 3000 with other ISAs - Similarities
ISAs Topic Relevant Paras of ISAE
3000

ISA-200 - Conduct of a Engagement in Accordance with ISAE/ISRE 14-20

- Complying with Relevant Requirements 37, 38
- Ethical Requirements A21-A34
- Professional Skepticism A76-A85
- Professional Judgment A170
ISA-210 - Acceptance & Continuance of Client Relationships & Engagements 21-23

ISA-220 - Engagement Level Quality Control 31-36

ISQC-1 A60-A75
ISA-260 - Communication with Management and Those Charged with Governance 38-42

ISA-300 - Planning 40-43

A86-A91
ISA-560 - Subsequent Events 61
A140-A141
ISA-580 - Written Representations 56-60
A136-A138
ISA-620 - Use of work performed by others 70
A185-A187
ISA-700 - Consideration of AFRF in Relation to the Financial Statements 63
A143-A145
ISA-700 - Form of the Conclusion 64-65
A146-154
ISA-700 - The Practitioner’s Report 67-69
ISA-700 - Practitioner’s Report Prescribed by Law or Regulation 30

ISA-705 - Modified Conclusion 66

A155-A157
ISA-720 - Responsibilities for accompanying information 62, A142
 Comparison of Assurance Engagements
(3000 Series)
Title Things to Remember Annexures

3400 Examination of Prospective - Difference between Forecast & Projection - No Annexure

Financial Information - 2 Fold opinion (negative and positive) - Report Pattern given in
Para 28 & 29
3402 Controls at Service - Difference between ISAE 3402 and ISA 402 - Service Organisation
Organization - Service entity, User entity and auditors Statements
- Type 1 & Type 2 Report - Assurance reports
- Concept of Subservice Entity - Modified Assurance
Reports
3410 Greenhouse Gas Statement - Purpose of Greenhouse Gas Statment - Description of different
- Different type of Emissions scope emissions
- Assurance Reports
3420 Compilation of Pro Forma - Concept of Pro Forma Financial Information - Report with unmodified
Financial Information - Local example in Pakistan opinion
included in a Prospectus (Subsidiary as per 2nd Schedule – Co.Act 2017)