The International Auditing and Assurance Standards Board (IAASB) issued guidance on the auditor's responsibilities when dealing with financial statements that involve the auditor's own work.
Specifically, it gives guidance related to an engagement to report on summary financial statements derived from financial statements audited by that same auditor in accordance with International Standards on Auditing (ISAs).
ISA 810 (Revised), Engagements to Report on Summary Financial Statements, contains limited amendments designed to leverage the additional transparency resulting from the IAASB's new and revised auditor reporting standards, which were issued in January 2015.
ISA 810 (Revised) will take effect for engagements to report on summary financial statements for periods ending on or after Dec. 15, 2016. The standard takes effect at the same time as the auditor reporting standards addressing general-purpose financial statements.