Appendix No. 9

to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n

The international standard of audit 265 "Informing persons who are responsible for corporate management and managements about shortcomings of internal control system"

The International Standard of Audit (ISA) 265 "Informing persons who are responsible for corporate management and managements about shortcomings of internal control system" should be considered together with MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

Introduction

Scope of this standard

1. This International Standard of Audit (ISA) obliges the auditor to inform properly persons who are responsible for corporate management, and management about shortcomings of internal control system <1> which were revealed by the auditor when carrying out financial records audit. This standard does not impose subsidiary duties on the auditor concerning ensuring understanding of internal control system and development and carrying out tests of control facilities in excess of what also MCA 330 <2> already enters requirements of the MCA 315 standards (reviewed). MCA 260 (reviewed)> establishes additional requirements and contains recommendations for the auditor's obligations about informing persons who are responsible for corporate management for the booked audit.

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<1> MCA 315 (reviewed) "Identification and risks assessment of essential misstatement by means of studying of the organization and its environment", items 4 and 12.

<2> MCA 330 "Audit procedures in response to the estimated risks".

<3> MCA 260 (reviewed) "Information exchange with persons who are responsible for corporate management".

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