SOCPA publishes an Arabic Translation of the Guide to Using International Standards on Auditing in the Audits of Small and Medium-Sized Entities
As part of its efforts to advance the accounting and auditing profession, support small and medium-sized firms, and transfer specialized knowledge from its reliable sources to the wider community, SOCPA has successfully completed the Arabic translation of the "Guide to Using International Standards on Auditing in the Audits of Small and Medium-Sized Entities" which consist of two parts and is originally published by the IFAC in English.
The guide aims to grant chartered accountants a deep understanding of audits that are conducted following the international auditing standards, by explaining them and providing various illustrative examples.
The guide also provides a practical approach to how audit is carried out, which chartered accountants can use when carrying out risk-based audits for Small and Medium-Sized Entities (SMEs).
This guide will ultimately help chartered accountants to carry out high-quality and cost-effective audits, enabling them to better serve SMEs and the public interest.
The guide can be used for the following purposes:
- To gain a more in-depth understanding of audit conducted in accordance with international auditing standards.
- To prepare a staff manual (supplemented as necessary by local requirements and firm procedures) to be used in day-to-day business, and as a basis for training courses, studies, and discussions of individuals.
- To assist in ensuring that staff follow a consistent approach when planning and executing the audit.
The guide also provides non-binding guidance on the application of auditing standards. The guide should not be used as a substitute for reading the auditing standards but should be used as a supplement to support the consistent application of these standards when auditing SMEs. It should be noted that the guide does not address all aspects of audit standards and should not be used for the purposes of determining or demonstrating compliance with those standards.
This publication is the result of an agreements signed with the International Federation of Accountants (IFAC) to translate its publications into Arabic.
You can read the electronic version of the translation on SOCPA's website here.