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Hey NINJA’s
How important is it to know the distinctions between ISA (international) and US Auditing standards for various topics.
For example: ISA’s dont require communication with predecessor auditor whereas US standards do require it.
Another example: ISA’s require auditor to assess the need to reissue the engagement letter each year for reaudits/recurring engagements whereas US standards deem it mandatory to reissue engagement letter each year.
What are your experiences with this?
THanks!
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