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International News
IAASB Announces New Strategy and Work Plan to Advance Global Audit and Assurance Standards
11 Apr 2024
The International Auditing and Assurance Standards Board (IAASB) published its approved strategy and work plan aimed at enhancing consistency and quality of audit and assurance standards worldwide. Elevating Trust in Audit and Assurance: IAASB’s Strategy and Work Plan for 2024-2027 reflects the crucial role of audit and assurance in fostering trust in the world’s economies.
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International News
New IAASB Video Series Explores Proposed Changes to Fraud Standard
04 Apr 2024
A new four-part video series has been released by the International Auditing and Assurance Standards Board (IAASB) on proposed amendments to its fraud standard to help stakeholders understand the proposed changes that strengthen auditor’s responsibilities related to fraud, and the rationale behind them.
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International News
IAASB Launches New Video Series and Global Webinar to Understand the ISA for LCE
11 Mar 2024
The International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE), issued by the International Auditing and Assurance Standards Board (IAASB) in December 2023, is a standalone global auditing standard designed specifically for smaller and less complex businesses. A new video series has been released to help stakeholders understand, implement and use ISA for LCE.
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International News
IAASB Issues Guidance for Assurance Practitioners when Citing IFRS Accounting Standards
08 Dec 2023
The guidance helps stakeholders understand how to reference IFRS Accounting Standards to follow recent updates to the IFRS Foundation® Trade Mark Guidelines. It clarifies how auditors or practitioners should refer to the IFRS Accounting Standards in their reports.
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International News
IFAC Releases Second Installment in Implementation Support Series for Small Firms on the IAASB's Quality Management Standards
05 Jul 2023
The International Federation of Accountants (IFAC) released the second installment in a three-part publication series to help small and medium-sized practices implement the quality management standards. The second installment provides a step approach to identifying your quality objectives; completing your quality risk assessment process; identifying existing, or creating new, responses to those quality risks; and implementing, documenting, and communicating your system of quality management.
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International News
IAASB Issues New Technology-Focused FAQs
08 Feb 2023
The FAQs address questions about investigating exceptions and the concept of performance materiality when performing audit procedures using automated tools & techniques (ATT). While not unique to ATT, questions on these topics have become more prevalent with the increasing use of ATT, which enable analyzing data sets with large volumes of information.
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International News
New IAASB Fact Sheet Helps Auditors Navigate Quality Management for Group Audits
15 Dec 2022
This fact sheet focuses on the interactions between ISA 220 (Revised) on quality management at the engagement level and ISA 600 on group audits. It highlights aspects of a group audit that may be affected by ISA 220 (Revised) and ISQM 1. This includes the revised definition of engagement team and leadership and direction, supervision, and review responsibilities.
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International News
IAASB Issues New Frequently Asked Questions for Reporting Going Concern Matters in the Auditor’s Report
01 Aug 2022
This non-authoritative publication addresses some of the common questions related to reporting going concern matters in the auditor’s report.
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International News
New Implementation Guide Available for Identifying and Assessing the Risks of Material Misstatement in An Audit of Financial Statements
27 Jul 2022
This guide focuses on the more substantial changes that were made to International Standard on Auditing (ISA) 315 (Revised 2019) and will help stakeholders understand and apply the revised standard as intended.
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International News
Spearheading Change to Enhance Confidence in Audits and Assurance
19 Jul 2022
The IAASB published its 2021 Public Report, which details its progress to support the public interest in audit and assurance for the year ended 31 December 2021.