Audit and Accounting

Important ISA for UN audits

Important ISA for UN audits

The Financial Rules are promulgated by the Secretary-General in accordance with the provisions of the Financial Regulations approved by the General Assembly. They shall govern all the financial management activities of the United Nations except as may otherwise explicitly be provided by the Assembly or unless specifically exempted therefrom by the Secretary-General. The Secretary-General hereby delegates authority and responsibility for the implementation of the Financial Regulations and Rules to the Under-Secretary-General for Management. The UnderSecretary-General for Management may in turn delegate, by administrative instruction, authority for specified aspects of the Financial Regulations and Rules. Such administrative instructions will state whether the delegated official may assign aspects of this authority to other officials. In the application of the Financial Regulations and Rules, officials shall be guided by the principles of effective and efficient financial management and the exercise of economy.


• ISA 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing
• ISA 230, Audit Documentation
• ISA 320, Materiality in Planning and Performing an Audit
• ISA 500, Audit Evidence
• ISA 520, Analytical Procedures Important ISA for UN audits
• ISA 530, Audit Sampling
• ISA 700, Forming an Opinion and Reporting on Financial Statements
• ISA 705, Modifications to the Opinion in the Independent Auditor’s Report
• ISA 706, Emphasis of Matter Paragraphs and Other Matter Paragraphs in the  Independent Auditor’s Report

What are fundamental learning from these standards

• Audits should be well planned
• Scope, objective and methodology should be clearly communicated to auditee
• Audit criteria should be unambiguous and acceptable to auditee
• Extent of checking (sampling) and conclusion drawn on basis of it should be reasonable
• Comment should be clear, based on proper analysis and evidence of deviation from relevant criteria

All United Nations staff are obligated to comply with the Financial Regulations and Rules and with administrative instructions issued in connection with those Regulations and Rules. Any staff member who contravenes the Financial Regulations and Rules or corresponding administrative instructions may be held personally accountable and financially liable for his or her actions.


Refer : United Nations Financial Regulations and Rules of the United Nations

Categories: Audit and Accounting

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