International Standards On Auditing - Use of The ISAs

Use of The ISAs

• European Union: The Audit Directive of 17 May 2006 enforces the use of the International Standards on Auditing for all Statutory audit to be performed in the European Union.

The Audit Directive of 17 May 2006 is important in order to ensure a high quality for all statutory audits required by Community law requiring all statutory audits be carried out on the basis of all international auditing standards. The Directive has given implementing powers to the European Commission, in order to adopt "en bloc" the ISAs in accordance with the Council Decision of 28 June 1999, also known as the "Comitology Decision".

• European Court of Auditors: the European Court of Auditors performs its audits in accordance with the IFAC and INTOSAI International Auditing Standards and Codes of Ethics, in so far as these are applicable in the European Community context.
• The United Nations Board of Auditors (the external audit of the UN) has adopted the ISAs although this Board is composed of three Supreme Audit Institutions chairmen, usually using the INTOSAI Auditing Standards.