Appendix No. 16

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

International standard of audit 500 "Auditor proofs"

The International Standard of Audit (ISA) 500 "Auditor proofs" 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) determines that it is part of auditor proofs when carrying out financial records audit and what obligations of the auditor on development and accomplishment of audit procedures for the purpose of receipt of sufficient competent auditor evidences to have opportunity to draw valid conclusions which will form the basis for auditor opinion.

2. This standard is applied to all auditor evidence obtained during audit. In other MSA are considered: specific aspects of audit (for example, in MCA 315 (reviewed) <1>), auditor proofs which need to be collected concerning this or that specific question (for example MCA 570 <2>), specific procedures of receipt of auditor proofs (for example, MCA 520 <3>), and also assessment of whether sufficient competent auditor evidences are collected (MCA 200 <4> and MCA 330 <5>).

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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".

<2> MCA 570 (reviewed) "Going concern".

<3> MCA 520 "Analytical procedures".

<4> MCA 200 "Main objectives of the independent auditor and carrying out audit according to International standards of audit".

<5> MCA 330 "Audit procedures in response to the estimated risks".

The effective date

3. This standard becomes effective concerning financial records audit for the periods beginning on December 15, 2009 or after this date.

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