This ISA deals with the auditor's responsibilities relating to fraud in an audit of financial statements. Specifically, it expands on how ISA 315 and ISA 330 are to be applied in relation to risks of material misstatement due to fraud.

Greg Fletcher, IAASB IAPS 1000 Task Force

Mr. Fletcher is an Associate Chief Auditor in the Public Company Accounting Oversight Board’s Office of the Chief Auditor. He and his colleagues are responsible for developing auditing and related professional practice standards that auditors must follow when performing audits and attestations of companies that are publicly traded in the US.

This document, from October 2008, provides a progress update on the Clarity project to help those with responsibilities relating to audits of financial statements set in motion plans to ensure that audits are effectively carried out under the clarified ISAs when the standards come into effect.