IFAC Report Highlights Accountancy Profession as Key Driver of Progress in Adoption of International Standards

In celebration of World Standards Day, IFAC (International Federation of Accountants) today released a new report detailing how and where international accountancy standards—which focus on audit and assurance, ethics, education, and private and public sector accounting—are being adopted and...

Research Shows Benefits of Multidisciplinary Firm Structure in Producing High Quality Audits

Scrutiny of the multidisciplinary model and its impact on audit quality has increased in the international regulatory dialogue that has followed some high-profile corporate collapses. The concept of ‘audit-only’ firms has been proposed as a solution to the ongoing concerns about audit quality,...

IAASB’s Key Achievements, 2016-2019

The IAASB public report, Foundation for the Future, summarises the Board’s achievements from 1 January 2016 to 30 June 2019. Some of the key achievements include: Approved five new and revised standards. Issued six exposure drafts and consultation with stakeholders on five key...

IAASB June 2019 Meeting Highlights Podcast

This podcast contains highlights from the IAASB Meeting on 17-21 June in New York.  The meeting covers the various ongoing projects including identifying and assessing risks of material misstatement, group audits, agreed-upon procedures and extended external reporting. Please...

IAASB Publishes Professional Scepticism Communiqué

This communiqué is part of a series from the IAASB Professional Scepticism Working Group, providing updates on the IAASB’s efforts to appropriately reflect professional scepticism in its standards, together with other relevant news and information.

ISA 540 (Revised) Presentation by IAASB

Listen to Rich Sharko, IAASB Board member and the Chair of the ISA 540 (Revised) Implementation Support Working Group, as he explains the public interest issues addressed by International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures. This 10 minute...

Professional Scepticism Lies at the Heart of a Quality Audit

As part of the IAASB’s focus on professional scepticism, the IAASB released a publication highlighting the IAASB’s efforts to appropriately reflect professional scepticism in its recently issued and soon-to-be-issued standards and exposure drafts. The Professional Skepticism Communiqué also includes...

IAASB Modernises Auditing of Accounting Estimates in Support of Audit Quality

The International Auditing and Assurance Standards Board (IAASB) released International Standard on Auditing (ISA) 540 (Revised), its revised standard for the audit of accounting estimates and related disclosures.