IAASA has issued a Guidance Note 02/2019 on The Audit of Credit Unions. It provides guidance to auditors on the application of International Standards on Auditing (Ireland) to the audit of the financial statements of credit unions in the Republic of Ireland. It also contains guidance on special factors to be considered in the application of ISA (Ireland) 250: Section A - Consideration of laws and regulations in an audit of financial statements (Revised July 2017) (‘ISA (Ireland) 250A’) and ISA (Ireland) 250: Section B - The Auditor’s statutory right and duty to report to regulators of public interest entities and regulators of other entities in the financial sector (‘ISA (Ireland) 250B’) to audits of credit unions.
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