ASCA-Jordan Issues the Arabic Version of the International Standards on Auditing and Quality Control 2009

AMMAN --- September 8, 2009 --- The Arab Society of Certified Accountants (ASCA -Jordan) issued the first Arabic 2009 edition of the International Standards on Auditing and Quality Control handbook after being updated to include the quality control standards.

The handbook consists of:
? A complete set of audit and quality control engagements of the International Auditing and Assurance Standards Board (IAASB).
? All international standards on auditing redrafted for clarification purposes.
? The redrafted International Standard on Quality Control 1, glossary of terms and introduction, all to be effective starting from December 15, 2009.

This new edition of the handbook also includes nine International Accounting Standards which were redrafted and issued by the IAASB on January 1, 2008. It replaces the second part of 2008 edition of the International Standards on Audit Engagements and Assurance and the Code of Ethics issued by the International Federation of Accountants (IFAC).

As a result, auditors in all over the world will be able to access 36 updated and clarified International Standards on Auditing and Quality Control. These standards were designed to enhance comprehension, applicability and translatability. The clarified standards, included in this handbook, are considered useful in auditing financial statements for periods beginning on or after December 15, 2009.

In addition, the Board announced the completion of (clarity project) in March 2009. The eighteen-month program consisted of a comprehensive review of all International Standards on Auditing and the International Standards on Quality Control for further explanation (clarity project).

ASCA -Jordan continuously seeks to develop both accounting and management sciences as well as all related principles applicable to all or some professional services. ASCA -Jordan also exerts effort to upgrade the competence, practice and code of ethics according to the highest professional levels through the issuance of accounting publications and following-up on the recent developments in accounting and auditing.