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PSA 120 – Framework of Philippine Standards on Auditing
PSA 265 (New) – Communicating Deficiencies in Internal Control to Those Charged with
Governance and Management
Accountancy Board Resolution No. 47 (s. 2022) – Resolution Adopting The Auditing And
Assurance Standards Council (AASC) Pronouncements As Part Of The Philippine Auditing
Standards
REDRAFTED
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PSA 210 (Redrafted) – Agreeing the Terms of Audit Engagements
PSA 220 (Redrafted) – Quality Control for Audits of Historical Financial Statements
PSA 230 (Redrafted) – Audit Documentation
PSA 240 (Redrafted) – The Auditor’s Responsibility to Consider Fraud in an Audit of Financial
Statements
PSA 300 (Redrafted) – Planning an Audit of Financial Statements
PSA 330 (Redrafted) – The Auditor’s Responses to Assessed Risks
PSA 315 (Redrafted) – Identifying and Assessing the Risks of Material Misstatement through
Understanding the Entity and Its Environment
PSA 500 (Redrafted) – Audit Evidence
PSA 501 (Redrafted) – Audit Evidence – Additional Considerations on Specific Items
PSA 510 (Redrafted) – Initial Audit Engagements-Opening Balances
PSA 520 (Redrafted) – Analytical Procedures
PSA 530 (Redrafted) – Audit Sampling
PSA 560 (Redrafted) – Subsequent Events
PSA 570 (Redrafted) – Going Concern
PSA 610 (Redrafted) – Using the Work of Internal Auditors
PSA 700 (Redrafted) – The Independent Auditor’s Report on a Complete Set of General Purpose
Financial Statements
PSA 710 (Redrafted) – Comparative Information-Corresponding Figures and Comparative
Financial Statements
PSA 720 (Redrafted) – The Auditor’s Responsibilities Relating to Other Information in Documents
Containing Audited Financial Statements
Philippine Standards on Auditing (PSA) 250 (Revised) – Consideration of Laws and Regulations in
an Audit of Financial Statements [Including Related Conforming Amendments to Other
Philippine Standards]
REVISED
1. Philippine Standards on Auditing (PSA) 315 (Revised 2019) – Identifying and Assessing the Risks
of Material Misstatement
2. Philippine Standards on Auditing (PSA) 540 (Revised) – Auditing Accounting Estimates and
Related Disclosures, and Conforming and Consequential Amendments to Other Philippine
Standards Arising from PSA 540 (Revised)
3. Philippine Standards on Auditing (PSA) 220 (Revised) – Quality Management for an Audit of
Financial Statements
REVISED & REDRAFTED
1. PSA 200 (Revised and Redrafted) – Overall Objectives of the Independent Auditor and the
Conduct of an Audit in Accordance with International Standards on Auditing
2. PSA 260 (Revised and Redrafted) – Communication with Those Charged with Governance
3. PSA 320 (Revised and Redrafted) – Materiality in Planning and Performing an Audit
4. PSA 402 (Revised and Redrafted) – Audit Considerations Relating to Entities Using Service
Organizations
5. PSA 505 (Revised and Redrafted) – External Confirmations
6. PSA 580 (Revised and Redrafted) – Written Representations
7. PSA 550 (Revised and Redrafted) – Related Parties
8. PSA 600 (Revised and Redrafted) – Special Considerations-Audits of Group Financial Statements
(Including the Work of Component Auditors)
9. PSA 620 (Revised and Redrafted) – Using the Work of an Expert
10. PSA 705 (Revised and Redrafted) – Modifications to the Opinion in the Independent Auditor’s
Report
11. PSA 706 (Revised and Redrafted) – Emphasis of Matter Paragraphs and Other Matter Paragraphs
in the Independent Auditor’s Repo
12. PSA 800 (Revised and Redrafted) – Special Considerations-Audits of Financial Statements
Prepared in Accordance with Special Purpose Frameworks
13. PSA 805 (Revised and Redrafted) – Special Considerations-Audits of Single Financial Statements
and Specific Elements, Accounts or Items of a Financial Statement
14. PSA 810 (Revised and Redrafted) – Engagements to Report on Summary Financial Statements