Impact of environmental matters on the audit
You'll learn how environmental and sustainability information in annual reports affects your audit responsibilities and how to handle the expectation gap between what users think you've audited and what you actually have.
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In this lesson
- 0:00 Impact of environmental matters on audit
- 0:32 Two types of audit engagements explained
- 1:08 Review of annual report as audit engagement
- 1:47 Understanding the expectation gap
- 2:23 Relevant auditing standards for other information
- 3:17 Applying ISA 250, 450 and 620
About this lesson
This video covers two types of engagement—reviewing non-financial information as part of the financial statements audit and providing separate independent assurance—with focus on the first type. You'll explore key auditing standards (ISA 720, ISA 540, ISA 250, ISA 450, and ISA 620) that apply when assessing material inconsistencies, management bias in estimates, legal compliance, and when you need to engage experts. This is essential knowledge for AA candidates navigating the growing complexity of sustainability reporting in modern audits.
Duration: 4m
Transcript
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