The International Auditing and Assurance Standards Board (IAASB) seeks public comment on its Proposed Strategy for 2020-2023 and Work Plan for 2020-2021.
The evolving environment in which the IAASB operates demands a strategy that reflects, among other elements, changing technology; a dynamic small- and medium-sized entity landscape; and emerging reporting needs. This is global stakeholders’ opportunity to shape the IAASB’s strategy by commenting on the proposed draft.
In this Proposed Strategy for 2020–2023 and Work Plan for 2020–2021, the IAASB puts forth a way forward that it believes meets stakeholders’ evolving needs, and is the public interest. Enhancing processes, including using technology and appropriate resourcing, are included in the strategy and are crucial to success. These enhancements will also maximize the impact of activities, thereby enabling more timely responses to global trends and needs.
The Work Plan highlights the IAASB’s commitment to completing significant projects currently underway, while balancing the needs of all stakeholders.
ISCA takes a leading role in advocating the views and proposals of the audit community in Singapore. ISCA would hence like to seek views from key stakeholders in Singapore on the above proposal.