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...

IAASB September 2017 Board Meeting Highlights Podcast

IAASB Chairman Arnold Schilder, Deputy Chair Megan Zietsman, Technical Director Matt Waldron, and members Fiona Campbell and Ron Salole discuss the September board meeting and highlight key discussions and decisions.

IAASB Webcast: Proposed Changes to International Standard on Quality Control

IAASB Quality Control Task Force Chair, Karin French, leads a discussion on proposed changes to International Standard on Quality Control (ISQC) 1 for firms. The proposed changes will result in a restructured and enhanced standard that will change the current approach to firms' systems of quality...

Global Audit, Ethics and Education Standards Boards Outline Need, Way Forward for Enhanced Professional Skepticism

The global standard-setting boards for auditing, accounting ethics and accounting education today released a new publication showcasing observations and potential ways to enhance professional skepticism.

IAASB Welcomes PCAOB's New Enhanced Auditor Reporting Standard

The International Auditing and Assurance Standards Board (IAASB) welcomes the adoption by the US Public Company Accounting Oversight Board (PCAOB) of a new auditing standard to enhance auditor’s reports by providing additional, relevant information to users, including critical audit...

IAASB Proposes Modernization of Financial Estimate Audits in Support of Audit Quality

Significant changes in how auditors evaluate accounting estimates and related disclosures have been proposed by the International Auditing and Assurance Standards Board (IAASB). The changes will require auditors to sharpen their focus on risks of material misstatements arising from accounting...

Enhancing Audit Quality Anchors Two Year IAASB Work Plan

The International Auditing and Assurance Standards Board (IAASB) today released its Work Plan for 2017–2018 following a public consultation with stakeholders. The continuing relevance of the board’s strategic objectives was also confirmed with the IAASB release of a Supplement to its Strategy for...