April 2023
Intermediate to advanced
1056 pages
34h 59m
English
AU-C 250 applies to an audit of financial statements. It does not apply to assurance engagements specifically to test and report separately on compliance with specific laws or regulations. (AU-C 250.01)
Source: AU-C 250.11. For the definition related to this standard, see Appendix A, “Definitions of Terms”: Noncompliance.
AU-C Section 250.10 states that:
The objectives of the auditor are to
- obtain sufficient appropriate audit evidence regarding material amounts and disclosures in the financial statements that are determined by those laws and regulations generally recognized to have a direct effect on their determination (see paragraph .06a),
- perform specified audit procedures that may identify instances of noncompliance with other laws and regulations that may have a material effect on the financial statements (see paragraph .06b), and
- respond appropriately to noncompliance or suspected noncompliance with laws and regulations identified during the audit ...