Refer to Exhibit 15.3 and the Why It Matters feature Differing Guidance on Referring to Other Auditors.

Question:

Refer to Exhibit 15.3 and the Why It Matters feature “Differing Guidance on Referring to Other Auditors.” How do the requirements for referring to other auditors differ between U.S. auditing standards and the ISAs?

Exhibit 15.3

Example of an Excerpt from an Unqualified Audit Report with Explanatory Language Indicating the Division of Responsibility and Making a Reference to the Other Auditors: PCAOB Audit.

Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the...

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