개정 국제감사기준 도입의 해외사례 비교 연구: ISA 720(Revised), ISA 250(Revised), 공시 관련 기준서를 중심으로

Abstract

The revised international standard on auditing(ISA) are being considered for domestic introduction. All revised standards, such as the auditor’s responsibilities relating to other information(ISA 720(Revised)), consideration of laws and regulations in an audit of financial statements(ISA 250(Revised)), disclosure-related audit standards(ISA 200(Revised) etc.), are expected to increase audit inputs and audit risk. This study checked the revisions of standards, and analyzed the main influence factors for issues. In addition, the cases of introduction of the revised ISA in the US, UK, and Canada were studied, and the results of the Post Implementation Review of the IAASB were analyzed. As for ISA 720(Revised), it is expected to have a direct and significant impact on on-site audit work. This is because the auditor is required to obtain and consider other information, and the workload and risk increase as the scope for subjective judgment and the scope of the audit increases. ISA 250(Revised) makes the provisions of the previous standard more specific and clarifies the procedure, and it is expected to have a relatively significant effect by expanding the auditor's additional responsibility. For disclosure-related standards, although the audit process has been specified in terms of disclosure, it is already reflected in many of the audit practices, so it is not expected that there will be any major repercussions from the introduction. Implications for domestic introduction can be obtained through overseas cases. First, it is possible to consider the process of having sufficient communication between the expert groups before introduction, and then listening to the opinions of the relevant stakeholder groups and finding improvement measures after application. Second, in relation to ISA 720(Revised), the scope of the annual report subject to other information should be clearly defined, and a plan should be prepared for the auditor to obtain the annual report in a timely manner. Third, for ISA 250(Revised), it is also possible to consider a plan to separately prepare guidelines for laws and regulations applicable to domestic audits. Fourth, as for the revised ISA related to disclosure, it is unlikely that separate regulations, guidelines, or laws will be enacted according to the revision of disclosure related standards. This study presents policy implications for domestic introduction by analyzing the main contents of the revised ISA and overseas introduction cases. It is expected that the research results will help establish a successful standard that reflects the purpose of the revision, and will be a reference for preparing specific introduction plans.