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Archived local and international news
Collaboration & Coordination: IAASB and IESBA Discuss Contributors to Audit Quality and Other Projects
10 May 2016
In this interview, IAASB Chairman Prof. Arnold Schilder and IESBA Chairman Stavros Thomadakis discuss topics of mutual relevance, including audit quality, the Code of Ethics, non-compliance with laws and regulations (NOCLAR), and professional skepticism, which is one of the three main areas under review in the IAASB’s Invitation to Comment (ITC), Enhancing Audit Quality in the Public Interest.
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Archived local and international news
Video Supplement to the Invitation to Comment, Enhancing Audit Quality in the Public Interest
27 Apr 2016
In this video, IAASB Member and Chair of the Group Audits and the Enhancements Working Groups Megan Zietsman reviews the key elements of the Invitation to Comment, Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control and Group Audits (the ITC) and the ITC Overview.
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Archived local and international news
IAASB Report Focuses on Outcomes of Its Work and Commitment to the Public Interest
19 Apr 2016
The International Auditing and Assurance Standards Board (IAASB) today released its 2014/2015 Biennial Report, Championing Change in the Public Interest. The report highlights key outputs from the board in the past two years, including the Framework for Audit Quality and the new and revised Auditor Reporting standards.
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Archived local and international news
AGS 11, Comfort Letters and Due Diligence Meeting
27 Mar 2016
AGS 11 (or the “Statement”) provides guidance to reporting auditors on the procedures to be performed to provide comfort in respect of the integrity of certain information disclosed in the investment circular, or to comment on changes in selected financial statement items subsequent to the latest period reported on in the reporting auditors’ report.
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Archived local and international news
IAASB Finalizes Changes for Engagements to Report on Summary Financial Statements
25 Mar 2016
The International Auditing and Assurance Standards Board (IAASB) has released ISA 810 (Revised), Engagements to Report on Summary Financial Statements, which deals with the auditor’s responsibilities relating to an engagement to report on summary financial statements derived from financial statements audited in accordance with International Standards on Auditing (ISAs) by that same auditor.
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Archived local and international news
IAASB eNews: March 2016
14 Mar 2016
IAASB eNews: March 2016 updates.
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Archived local and international news
Global Forum for Audit Regulators issues measurable target to improve audit quality
07 Mar 2016
The global forum for audit regulators has for the first time, issued a measurable target to address persistent levels of deficiencies in public company audits.
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Archived local and international news
Conforming Amendments to AGS 9
06 Mar 2016
ISCA today issues the amended Audit Guidance Statement (AGS) 9, Opinion on Receipts, Expenditure, Investment of Moneys and the Acquisition and Disposal of Assets by Statutory Boards.
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Archived local and international news
Comments Sought on ED SSA 800 (Revised) and ED SSA 805 (Revised)
06 Mar 2016
The revised standards are based on the ISA 800 (Revised) and ISA 805 (Revised) respectively issued by the IAASB and are effective for audits of financial statements for periods ending on or after 15 December 2016, in line with the effective date of the new and revised auditor reporting standards.
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Archived local and international news
IAASB Highlights How Expected Credit Loss Models Will Affect Auditors; Signals Broader Efforts to Strengthen Auditor Efforts on Accounting Estimates
01 Mar 2016
The International Auditing and Assurance Standards Board® (IAASB®) today released a publication highlighting the audit issues arising from the shift to Expected Credit Loss (ECL) models when accounting for loan losses.