Main amendments to auditing standards and other engagements (part one)

Abstract

Technical Resolution No. 37 (hereinafter, TR 37) of the Federación Argentina de Consejos Profesionales de Ciencias Económicas (Argentine Federation of Professional Councils in Economic Sciences, Spanish acronym FACPCE) contains the auditing standards and other professional assignments, applicable in Argentina when International Standards are not used. Technical Resolution No. 53 (hereinafter, TR 53) was approved by the Board of Directors of that institution on 28 September 2021. Part 2 replaces the text of the original TR 37.

This paper details the additions and amendments made to the aforementioned standards and explains the reasons in each case.

For reasons of length, we have divided the work into two parts: part one covers the changes made to the standards common to all engagements and the amendments made to the standards on general purpose financial statements auditing reports. In the second part we will discuss the amendments to the standards on general purpose financial statements auditing process and those introduced to the standards on the rest of the engagements included in the TR.