Global Accounting Ethics & Audit Standards Achieving Worldwide Adoption

Nearly 80% of jurisdictions worldwide have adopted International Standards for Auditing for mandatory audits, while more than 60% have fully adopted the international Code of Ethics for Professional Accountants, according to a new study by IFAC—International Federation of Accountants—on rates of...

IAASB December 2017 Meeting Highlights Podcast

This podcast contains highlights from the IAASB Meeting on 11 – 15 December 2017 in New York. The meeting covers the various ongoing projects including quality control, auditing accounting estimates and related disclosures, and identifying and assessing risks of material misstatement.

Expanding SMP Services: Agreed-Upon Procedures Engagements

Agreed-Upon Procedures (AUP) engagements provide a great opportunity for small- and medium–sized practices (SMPs) to grow, and deliver a valuable client service. IFAC (The International Federation of Accountants) has released a new publication, Agreed-Upon Procedures (AUP) Engagements: A Growth and...

IFAC Publishes Initial Views on Monitoring Group Consultation Paper

The International Federation of Accountants (IFAC) has published its initial views to the Monitoring Group Consultation Paper on changes to the international audit and ethics standard-setting process.

Monitoring Group Consultation: Reforms to the Global Audit Standard Setting Process

The Monitoring Group issued a consultation paper setting out various options to enhance the governance, accountability and oversight of the international audit standard setting process. The Monitoring Group is a group of international financial institutions and regulatory bodies committed to...

IAASB and WBCSD’s New Collaboration Leads to Further Sustainability and Integrated Reporting

The International Auditing and Assurance Standards Board (IAASB) has agreed to collaborate with the World Business Council for Sustainable Development (WBCSD) to strengthen international assurance standards on sustainability reporting.

Audit firms show improvements in audit quality

ACRA's latest Practice Monitoring Programme (PMP) annual report on audit inspections observed noticeable improvements in audit quality. This is significant as investors rely on high quality audits to assure themselves of the quality of financial information. To further raise audit quality standards...

More insightful auditor's reports leading to greater corporate disclosures

Companies are stepping up their corporate disclosures in response to new and revised auditor reporting standards that came into effect at the end of last year. This was one of the key findings in a study to examine the impact of first-year implementation of enhanced auditor reporting standards in...