Description
In Cyprus, from 1 January 2023, a range of limited companies, partnerships and individual business persons no longer require a statutory audit if they meet certain criteria. If an audit is not performed, these entities are obliged to have a review of their financial statements conducted which follows the requirements of International Standard on Review Engagements 2400.
This work programme is for use, specifically by practises in Cyprus, when dealing with clients who are eligible to avail of the requirement not to have a statutory audit.
The work programme will enable you to demonstrate that you have undertaken the assignment in accordance with the requirements of ISRE 2400.
The programme includes guidance notes for its application, a Permanent File to help demonstrate your understanding of the business and a Current File with a planning and a completion section and a bank of suggested tests to perform.
Contents
The ISRE 2400 work programme contains detailed guidance notes and comprehensive schedules for the preparation of the Permanent File and the Current File.
There are also a number of appendices to assist in producing example reports, example letters of requests, engagement letters, going concern checklists and example letters of representation.
