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 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