Explain the relationship between International Standards on Auditing and national standards

4.2.2 Relationship between ISAs and national regulation

The relationship between ISAs and national regulation is not examinable under the current ACCA F8 syllabus. This section has been included for your reference only.

ISAs do not override the local regulations referred to above governing the audit of financial or other information in a particular country.

(a) To the extent that ISAs conform with local regulations on a particular subject, the audit of financial or other information in that country in accordance with local regulations will automatically comply with the ISA regarding that subject.

(b) In the event that the local regulations differ from, or conflict with, ISAs on a particular subject, member bodies should comply with the obligations of members set forth in the IFAC Constitution as regards these ISAs (ie encourage changes in local regulations to comply with ISAs).

The IAASB also publishes other papers, such as Discussion Papers, to promote discussion on auditing, review, other assurance and related services and quality control issues affecting the accounting profession, present findings, or describe matters of interest relating to these engagements.