Approved International Auditing Standards
The Board of Directors of the Saudi Organization for Certified Public Accountants approved accounting standards and international auditing standards, and following the completion of the work of approving international standards (accounting and auditing), the Auditing Standards Committee in the organization reformulated the accreditation documents previously issued for the four phases of the project to convert to international standards, in order to be in a document one. The committee reviewed all previous accreditation decisions in the light of the observations it received from interested parties after accreditation, and in light of the amendments that the technical committees considered to be consistent with the accreditation decisions in all criteria in the four stages.
The document has been updated with all versions of international standards until 3/21/1438 AH, corresponding to 12/20/2016 AD.
In addition, the authority has adopted the international standard for quality control 1.
Accordingly, you will find in the links below the document of approving the international auditing standards for application in the Kingdom of Saudi Arabia and the texts of the approved auditing standards, accompanied by the decision to adopt each standard.
First: The document of approving international auditing standards for application in the Kingdom of Saudi Arabia
Second: Translating the authority to international standards from the transformation plan
International Standard on Quality Control 1 (ISQC 1): Quality control for firms that perform audit and review engagements of financial statements and other assurance and related service engagements.
Audit Standard 200 (ISA 200): The general objectives of the independent auditor and the conduct of the audit, in accordance with the International Standards on Auditing adopted in the Kingdom of Saudi Arabia
In accordance with the transformation plan, and the policy of the International Board of Auditing and Assurance Standards regarding amendments to international standards entitled “Guidelines for preparers of national standards who apply the standards issued by the International Board of Auditing and Assurance Standards, with the necessity of making limited amendments to them”, the authority has adopted and Arabized international standards for auditing, examination and other assurances and related services after applying a number of executive procedures to study the standards in depth, and discuss them with a group of stakeholders. All amendments to the standards (if any) do not change the requirements of the standards.
The term “auditing standards” means – wherever mentioned – the international auditing standards approved in the Kingdom of Saudi Arabia, according to the accreditation document issued by the Board of Directors of the Saudi Organization for Certified Public Accountants. The auditing standards adopted in the Kingdom of Saudi Arabia are the International Standards on Auditing as issued by the International Council with limited amendments to adapt their application in line with the regulatory environment in the Kingdom of Saudi Arabia, according to what was stated in the International Standards on Auditing Approval Document issued by the Saudi Organization for Certified Public Accountants. These amendments did not change any of the requirements of those standards.
