SAICA FAQs on the application of the ISAs on matters arising from monitoring findings and other in-practice challenges


An updated version of this document was published in August 2022. This document is non-authoritative. The following updates were made:


Existing FAQs updated

  • FAQ 6: References to the use of electronic signatures in terms of the IRBA Code were included in the FAQ.
  • FAQ 10: Revised for ISA 315 (Revised 2019)
  • FAQ 11: Subsection 11.4 Consideration of controls over the preparation and maintenance of IPE was added to the FAQ.
  • FAQ 12: Limited editorial clarifications added to the illustrative example.

Warning to readers:

The FAQs provide guidance to registered auditors. Registered auditors however remain responsible for complying with the auditing pronouncements that apply to each audit.

Effective dates of recently revised standards:

  • ISA 315 (Revised 2019) is effective for audits of financial statements for periods commencing on or after 15 December 2021.
  • Systems of quality management, in compliance with ISQM 1 are required to be designed and implemented by 15 December 2022, and the evaluation of the system of quality management required by paragraphs 53-54 of ISQM 1 is required to be performed within one year following 15 December 2022.
  • ISQM 2 is effective for audits and reviews of financial statements for periods beginning on or after 15 December 2022 and for other assurance and related services engagements beginning on or after 15 December 2022.
  • ISA 220 (Revised) is effective for audits of financial statements for periods beginning on or after 15 December 2022.
  • ISA 600 (Revised) is effective for audits of group financial statements for periods beginning on or after 15 December 2023.

The table below indicates the version of the following standards that the respective FAQs in the August 2022 version of the FAQ document are based on, as applicable to the FAQ:

  • ISA 315
  • ISA 600
  • ISQC 1 / ISQM 1

“N/A” in the table indicates that the particular FAQ isn’t predominantly affected by the standards listed above.

The FAQs are currently in process of being revised to conform to the revised standards and other recent changes to the IRBA auditing pronouncements, as applicable to each FAQ.

Version of the standard that the FAQ in the August 2022 FAQ document is based on


ISA 315 (Revised)

ISA 315 (Revised 2019)

ISA 600

ISA 600 (Revised)



1. Risk assessment at assertion level

2. The presumption of risks of fraud in revenue recognition

3. Substantive procedures for each material class of transactions, account balance and disclosure (i.e. for each material financial statement item)

4. Testing of journal entries and other adjustments

5. Opening balances – Recurring engagements

6. Approval of Financial Statements by the entity, the dating and signing of the auditor’s report and the related documentation thereof







7. When information to be used as audit evidence involves the work of experts

8. Using the work of other auditors

9. ISA 450, Evaluation of misstatements identified during the audit







10. Testing the completeness assertion from an appropriate source

11. Obtaining audit evidence about the accuracy and completeness of information produced by the entity

12. Auditing the completeness of revenue: An illustrative example focusing on the relevance and reliability of the population from which items are selected for testing

AuthorSAICA Audit and Assurance
DivisionAudit and Assurance
Audit Quality
Technical Guide
Audit and Assurance
Technical guide
Date10 August 2022