The Philippine Standards on Auditing issued
by AASC:
a. Apply to independent examination
of financial statements of any entity
when such an examination is
conducted for the purpose of
expressing an opinion.
b. Need to be applied on all audit related.
c. Must not apply to other related activities
of auditors.
d. Require that in no circumstances would
an auditor may judge it necessary to
depart from a PSA, even though such a
departure may result to more effective
achievement of the objective of an audit
by AASC:
a. Apply to independent examination
of financial statements of any entity
when such an examination is
conducted for the purpose of
expressing an opinion.
b. Need to be applied on all audit related.
c. Must not apply to other related activities
of auditors.
d. Require that in no circumstances would
an auditor may judge it necessary to
depart from a PSA, even though such a
departure may result to more effective
achievement of the objective of an audit