Appendix No. 21

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

International standard of audit 530 "Auditor selection"

The International Standard of Audit (ISA) 530 "Auditor selection" 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) is applied in cases when the auditor made the decision during the course of performance of audit procedures to use auditor selection. In it questions of use by the auditor of statistical and nonstatistical selections during the forming of auditor selection and selection of its elements, testings of control facilities and detailed testing in essence are considered, and also in case of assessment of results of auditor selection.

2. This MSA supplements MCA 500 <1> in which the auditor's obligations on development and accomplishment of the audit procedures directed to receipt of sufficient competent auditor evidences which will allow it to draw valid conclusions for the subsequent expression of auditor opinion are established. MCA 500 contain instructions concerning available methods of selection of the auditor of elements for testing, one of which is auditor selection.

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<1> MCA 500 "Auditor proofs".

The effective date

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

Purpose

4. The auditor's purpose when using auditor selection consists in providing reasonable basis for forming of conclusions about population of which random check was made.

Determinations

5. For the purposes of International standards of audit the following terms have the stated below values:

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