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ISCA Comment Letters
The ISCA Professional Standards Division monitors developments in the auditing and assurance landscape and issuance of new exposure drafts and proposed pronouncements by the International Auditing and Assurance Standards Board (IAASB). The following is a compendium of ISCA comment letters submitted to the IAASB in response to the IAASB's proposals. These responses encompass the views of different relevant stakeholder groups in Singapore affected by the proposals, which are gathered by ISCA via various outreach platforms.
| Comment Letters to IAASB | Month of Submission |
| Proposed ISA 240 (Revised) The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements and Proposed Conforming and Consequential Amendments to Other ISAs IAASB Exposure Draft ISCA Comment Letter | Jun 24 |
| Proposed Narrow Scope Amendments to ISQMs, ISAs and ISRE 2400 (Revised) as a Result of the Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code IAASB Exposure Draft ISCA Comment Letter | Apr 24 |
| Proposed International Standard on Sustainability Assurance (ISSA) 5000 General Requirements for Sustainability Assurance Engagements IAASB Exposure Draft ISCA Comment Letter | Dec 23 |
| Proposed International Standard on Auditing 570 (Revised 202X) Going Concern and Proposed Conforming and Consequential Amendments to Other ISAs IAASB Exposure Draft ISCA Comment Letter | Aug 23 |
| Proposed Part 10, Audits of Group Financial Statements of the Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE) IAASB Exposure Draft ISCA Comment Letter | May 23 |
| Proposed International Standard on Auditing (ISA) 500 (Revised) Audit Evidence and Proposed Conforming and Consequential Amendments to Other ISAs IAASB Exposure Draft ISCA Comment Letter | Apr 23 |
| Proposed Strategy and Work Plan for 2024‒2027 IAASB Consultation Paper ISCA Comment Letter | Apr 23 |
| Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE) IAASB Exposure Draft ISCA Comment Letter | Jan 22 |
| FRAUD AND GOING CONCERN IN AN AUDIT OF FINANCIAL STATEMENTS Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial Statement Audit IAASB Discussion Paper ISCA Comment Letter | Feb 21 |
| Proposed International Standard on Auditing 600 (Revised): Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) and Proposed Conforming and Consequential Amendments to Other ISAs IAASB Exposure Draft ISCA Comment Letter | Oct 20 |
| Proposed Non-Authoritative Guidance: Extended External Reporting (EER) Assurance IAASB Proposed Guidance Supplement A: Credibility and Trust Model and Background and Contextual Information Supplement B: Illustrative Examples ISCA Comment Letter | Jul 20 |
| Discussion Paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs IAASB Consultation Paper ISCA Comment Letter | Sep 19 |
| Proposed International Standard on Quality Management (ISQM) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements Proposed International Standard on Quality Management (ISQM) 2, Engagement Quality Reviews Proposed International Standard on Auditing (ISA) 220 (Revised), Quality Management for An Audit of Financial Statements IAASB Exposure Draft – ISQM 1 IAASB Exposure Draft – ISQM 2 IAASB Exposure Draft – ISA 220 ISCA Comment Letter_ISQM and ISA | Jul 19 |
| Extended External Reporting (EER) Assurance (CP) IAASB Consultation Paper ISCA Comment Letter | Jun 19 |
| Proposed Strategy for 2020-2023 and Work Plan for 2020-2021 IAASB Exposure Draft ISCA Comment Letter | Jun 19 |
| ISRS 4400 (Revised), Agreed-Upon Procedures Engagements IAASB Exposure Draft ISCA Comment Letter | Mar 19 |
| ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement IAASB Exposure Draft ISCA Comment Letter | Nov 18 |
| ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures IAASB Exposure Draft ISCA Comment Letter | Aug 17 |
| Exploring the Demand for Agreed-Upon Procedures Engagements and Other Services, and the Implications for the IAASB’s International Standards (DP) IAASB Discussion Paper ISCA Comment Letter | Mar 17 |
| Exploring the Growing Use of Technology in the Audit, with a Focus on Data Analytics (ITC) IAASB Request for Input ISCA Comment Letter | Feb 17 |
| Enhancing Audit Quality in the Public Interest: A Focus on Professional Scepticism, Quality Control and Group Audits (ITC) IAASB Invitation to Comment ISCA Comment Letter | May 16 |
| ISA 810 (Revised), Engagements to Report on Summary Financial Statements IAASB Exposure Draft ISCA Comment Letter | Oct 15 |
| Proposed Amendments to the IAASB’s International Standards—Responding to Non-Compliance or Suspected Non-Compliance with Laws and Regulations (NOCLAR) IAASB Exposure Draft ISCA Comment Letter | Oct 15 |
| ISA 800 (Revised), Special Considerations – Audits Of Financial Statements Prepared In Accordance With Special Purpose Frameworks and ISA 805 (Revised), Special Considerations – Audits Of Single Financial Statements And Specific Elements, Accounts Or Items Of A Financial Statement IAASB Exposure Draft ISCA Comment Letter | Apr 15 |
| Proposed Changes to the ISAs - Addressing Disclosures in the Audit of Financial Statements IAASB Exposure Draft ISCA Comment Letter | Sep 14 |
| ISA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information IAASB Exposure Draft ISCA Comment Letter | Jul 14 |
| The IAASB’s Proposed Strategy for 2015–2019 and Proposed Work Program for 2015–2016 IAASB Consultation Paper ISCA Comment Letter | Apr 14 |
| Auditor Reporting - Reporting on Audited Financial Statements: Proposed New and Revised ISAs IAASB Exposure Draft ISCA Comment Letter | Dec 13 |
| A Framework for Audit Quality IAASB Consultation Paper ISCA Comment Letter | May 13 |
| ISA 720, The Auditor’s Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor’s Report Thereon (and the Proposed Consequential and Conforming Amendments to Other SSAs) IAASB Exposure Draft ISCA Comment Letter | Mar 13 |
| Improving the Auditor’s Report IAASB Consultation Paper ISCA Comment Letter | Oct 12 |
| ISAE 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information IAASB Exposure Draft ISCA Comment Letter | Sep 11 |
| ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment; and ISA 610 (Revised), Using the Work of Internal Auditors IAASB Exposure Draft ISCA Comment Letter | Nov 10 |
| ISAE 3420, Assurance Reports on the Process to Compile Pro Forma Financial Information Included in a Prospectus IAASB Exposure Draft ISCA Comment Letter | Jul 10 |