Updated at 28/07/2022 - 09:05 am
01. This Standard specifies and guides responsibility of auditors and auditing firms (hereinafter referred to as an "auditor") when performing an interim financial information review contract for customer audits, and instructions on form and content of the report.
For the purposes of this Standard, the term "auditor" is understood to mean those performing the review, including members of general management engagement, practicing auditors and other members of the Board of Directors. engagement team and in most cases, including firm. Where this Standard emphasizes the requirement or responsibility of a member of management who is responsible for overall engagement or the responsibility of the auditor, the term “member of management who is responsible for overall contract translation. service "or the term" auditing firm "must be used instead of the term" auditor ". The terms "general manager of services contract member" and "firm" are used equally in the public sector where appropriate.
02. Interim financial information is financial information prepared and presented in accordance with the applicable financial reporting framework, including either a full set of financial statements or a set of reports. Financial summary for a period shorter than the entity's fiscal year.
03. An auditor designated to review interim financial information is required to perform the review in accordance with this Standard. Through auditing of the annual financial statements, the auditor has an understanding of the entity and its environment, including internal control. When the designated auditor review interim financial information, this understanding is updated through interviews during the review process and assists the auditor in determining weight. Interview will be conducted as well as analytical and other review procedures will be applied. For the purposes of this Standard, the independent auditor performing the audit of the entity's financial statements is also known as the auditor of the entity.
A practicing auditor who is not the auditor of an entity that is designated to perform a review of the interim financial information will perform the review in accordance with Vietnamese Standard on engagement services. Number 2400 - Historical review service. Since the practicing auditor generally does not have the same understanding of the entity and its environment, including internal control as the entity's auditor, interviews and procedures are required. other to complete review objectives.
3a. The requirements of this Standard relate to reviews of interim financial information performed by the entity's auditor. However, this Standard is also applicable in specific situations when the contracting entity's auditor reviews the historical financial information of an auditor that is not financial information. middle age.
3b. The auditor and the firm shall comply with the requirements and guidelines in this Standard in agreeing to and performing interim financial information review contracts.
The reviewed entity (customers), related entities and individuals and parties using the results of a review should have the necessary understanding of the requirements and guidelines of this Standard in order to coordinate work. and dealing with relationships related to contracting and negotiating processes that review interim financial information and use the correct results.
3c. In implementing this Standard It is necessary to refer to Quality Control Standards No. 1, Vietnamese Auditing Standards, Vietnamese Standards on Review Services Contracts, Assurance Services Contracts and Related Services, including on the application and scope of Vietnamese Standards on Review Service Contracts (VSRE).