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.

ACRA’s Practice Direction No. 1 of 2018

This Practice Direction issued by the Accounting and Corporate Regulatory Authority on 28 August 2018 serves to remind Public Accountants (PAs) of the need to comply with Rule 10 of the Accountants (Public Accountants) Rules (PA Rules) when providing public accountancy services; and lays down the...

Updated Practical Support and Guidance for Small Business Audits

IFAC Guide to Using ISAs in the Audits of SMEs, Fourth Edition Small- and medium-sized practices (SMPs) may require practical support when implementing the International Standards on Auditing (ISAs) in audits of small- and medium-sized entities (SMEs). IFAC (International Federations of...

Global Consultation: Identifying and Assessing the Risks of Material Misstatement

Proposed Changes to ISA 315 (Revised) to Advance Audit Quality The International Auditing and Assurance Standards Board (IAASB) seeks public comment by 2 November 2018 on Exposure Draft, ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement.

IAASB June 2018 Meeting Highlights Podcast

This podcast contains highlights from the IAASB Meeting on 18-23 June in New York. The meeting covers the various ongoing projects including quality control and emerging forms of external reporting, auditing accounting estimates and related disclosures, and identifying and assessing risks of...