Audit Exemption for Small Companies - Accounting and - ACRA
Audit Exemption for Small Companies - Accounting and - ACRA
Audit Exemption for Small Companies - Accounting and - ACRA
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Clarity SSAs - Overview<br />
• the Clarity SSAs are based on the clarity ISAs<br />
• objective - to significantly advance the process of global convergence<br />
<strong>and</strong> enhance the quality <strong>and</strong> uni<strong>for</strong>mity of practice in audits worldwide<br />
• one new st<strong>and</strong>ard, addressing communication of deficiencies in<br />
internal control<br />
• 16 st<strong>and</strong>ards containing new <strong>and</strong> revised requirements (referred to<br />
as "revised <strong>and</strong> redrafted SSAs")<br />
• 20 st<strong>and</strong>ards that have been redrafted to apply the new conventions<br />
<strong>and</strong> reflect matters of general clarity only (referred to as "redrafted<br />
SSAs <strong>and</strong> redrafted SSQC 1")<br />
• all clarified SSAs will be effective <strong>for</strong> audits of financial statements <strong>for</strong><br />
periods beginning on or after 15 December 2009<br />
© 2010 Foo Kon Tan Grant Thornton LLP
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