Public Consultation

ISCA actively undertakes public consultation with its members and stakeholders to gather feedback on matters such as proposals in Exposure Drafts/Consultation Papers/Invitation to Comment/Discussion Papers/Request for Input issued by the International Auditing and Assurance Standards Board (IAASB), issuance of locally developed standards/guidance, and implementation issues pertaining to the application of auditing and assurance standards in Singapore. The proposed standards/guidance may be modified in light of comments received before being issued in its final form.

All responses should be sent to professionalstandards@isca.org.sg by the respective due dates as indicated below.

Description Published Date Comments Due By
IAASB’s Exposure Draft: Proposed Narrow-Scope Amendments to IAASB Standards Arising from the IESBA’s Using the Work of an External Expert Project
30 April 256 June 25
   
IAASB’s Post-Exposure Consultation: Invitation to Comment Before the IAASB Finalizes the Narrow Scope Amendments to the ISQMs and ISAs as a Result of the Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code
11 Feb 2528 Feb 25 (Closed)
   
IAASB’s Exposure Draft on Proposed ISA 240 (Revised) The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements and Proposed Conforming and Consequential Amendments to Other ISAs
7 Feb 2421 Apr 24 (Closed)
   
IAASB’s Exposure Draft on Proposed Narrow Scope Amendments to ISQMs, ISAs and ISRE 2400 (Revised) as a Result of the Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code
9 Jan 2412 Feb 24 (Closed)
   
IAASB's Exposure Draft on Proposed ISSA 5000 General Requirements for Sustainability Assurance Engagements
3 Aug 2330 Sep 23 (Closed)
   
IAASB's Proposed International Standard on Auditing 570 (Revised 202X) Going Concern and Proposed Conforming and Consequential Amendments to Other ISAs
29 May 2330 Jun 23 (Closed)
   
IAASB's Proposed Part 10, Audits of Group Financial Statements of the Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE)
9 Feb 238 Mar 23 (Closed)
   
IAASB's Proposed Strategy and Work Plan for 2024‒2027
20 Jan 2324 Feb 23 (Closed)
   
ED SSA 600 (Revised), Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors)23 Nov 2223 Dec 22 (Closed)
   
IAASB's Exposure Draft on Proposed ISA 500 (Revised) Audit Evidence and Proposed Conforming and Consequential Amendments to Other ISAs9 Nov 2216 Dec 22 (Closed)
   
IAASB's Exposure Draft on Proposed Narrow Scope Amendments to ISA 700 (Revised) Forming an Opinion and Reporting on Financial Statements and ISA 260 (Revised) Communication with Those Charged with Governance10 Aug 229 Sep 22 (Closed)
   
IAASB's Exposure Draft on Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE)10 Sep 219 Nov 21 (Closed)
   
ED SSRS 4400 (Revised), Agreed-Upon Procedures Engagements

18 May 2117 Jun 21 (Closed)
   
ED AGS 13, Data Analytics in a Financial Statements Audit

30 Apr 2131 May 21 (Closed)
   
EDs for Quality Management Standards at the Firm and Engagement Level, including Engagement Quality Reviews

22 Apr 2116 Jun 21 (Closed)
   
ED SSA 315 (Revised 2021) Identifying and Assessing the Risks of Material Misstatement and Conforming and Consequential Amendments to Other Singapore Standards Arising from SSA 315 (Revised 2021)8 Apr 217 May 21 (Closed)
   
ED Conforming and Consequential Amendments to the IAASB’s Other Standards as a Result of the New and Revised Quality Management Standards8 Apr 217 May 21 (Closed)
   
IAASB’s Discussion Paper on Fraud and Going Concern in an Audit of Financial Statements11 Nov 2011 Dec 20 (Closed)
   
ED SAP 2 (Revised in 2020), Auditors and Public Offering Documents3 Sep 2030 Sep 20 (Closed)
   
ED Proposed Non-Authoritative Guidance: Extended External Reporting (EER) Assurance

Supplement A: Credibility and Trust Model and Background and Contextual Information

Supplement B: Illustrative Examples		1 Jun 2030 Jun 20 (Closed)
   
ED SSA 250 (Revised), Consideration of Laws and Regulations in an Audit of Financial Statements
Conforming Amendments to Other Singapore Standards Arising from SSA 250 (Revised)		4 May 203 Jun 20 (Closed)
   
ED Conforming Amendments to the IAASB’s International Standards20 Nov 19 18 Dec 19 (Closed)
   
Discussion Paper, Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs24 Jun 19 23 Jul 19 (Closed)
   
EDs for Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews14 Mar 19 30 Apr 19 (Closed)
   
IAASB’s Proposed Strategy for 2020-2023 and Work Plan for 2020-202114 Mar 19 13 Apr 19 (Closed)
   
ED SSA 540 (Revised), Auditing Accounting Estimates and Related Disclosures and Conforming and Consequential Amendments to Other Singapore Standards Arising from SSA 540 (Revised)10 Dec 189 Jan 19 (Closed)
   
ED ISRS 4400 (Revised), Agreed-Upon Procedures Engagements3 Dec 1831 Jan 19 (Closed)
   
ED SAP 2 (Revised), Auditors and Public Offering Documents21 Sep 1819 Oct 18 (Closed)
   
ED AGS 1, Sample Independent Auditor’s Reports – New Appendix 1J24 Aug 1823 Sep 18 (Closed)
   
ED ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement23 Jul 1822 Aug 18 (Closed)
   
ED ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures8 Jun 177 Jul 17 (Closed)
   
ED AGS 1 - Sample Independent Auditor’s Reports - Revision to Appendix 214 Dec 163 Jan 17 (Closed)
   
Discussion Paper, Exploring the Demand for Agreed-Upon Procedures Engagements and Other Services, and the Implications for the IAASB’s International Standards13 Dec 1612 Jan 17 (Closed)
   
Exploring the Growing Use of Technology in the Audit, with a Focus on Data Analytics23 Nov 1622 Dec 16 (Closed)
   
ED AGS 1 – Sample Independent Auditor’s Reports - Revisions to Appendix 1 and 415 Sep 1614 Oct 16 (Closed)
   
SSA 810 (Revised), Engagements to Report on Summary Financial Statements22 Jun 1621 Jul 16 (Closed)
   
AGS 11 Comfort Letters and Due Diligence Meetings28 Mar 1627 Apr 16 (Closed)
   
SSA 800 (Revised), Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks and SSA 805 (Revised)7 Mar 166 Apr 16 (Closed)
   
Enhancing Audit Quality in the Public Interest: A Focus on Professional Scepticism, Quality Control and Group Audits (ITC)1 Feb 1629 Feb 16 (Closed)
   
AGS 9, Opinion on Receipts, Expenditure, Investment of Moneys and the Acquisition and Disposal of Assets by Statutory Boards13 Jan 1612 Feb 16 (Closed)
   
AGS 1, Sample Independent Auditor’s Reports – Revision to Appendix 3 27 Oct 1512 Nov 15 (Closed)
   
SSA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information 25 Sep 1524 Oct 15 (Closed)
   
Addressing Disclosures in the Audit of Financial Statements   25 Sep 1524 Oct 15 (Closed)
   

ISA 810 (Revised), Engagements to Report on Summary Financial Statements

11 Aug 1510 Sep 15 (Closed)
   

Proposed Amendments to the IAASB’s International Standards—Responding to Non-Compliance or Suspected Non-Compliance with Laws and Regulations (NOCLAR) 

3 Aug 152 Sep 15 (Closed)
   
Auditor Reporting

Reporting on Audited Financial Statements – Proposed New and Revised Singapore Standards on Auditing (SSAs) and Related Conforming Amendments 		13 May 1512 Jun 15 (Closed)
   
ISA 800 (Revised), Special Considerations - Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks and ISA 805 (Revised), Special Considerations - Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement3 Feb 152 Mar 15 (Closed)
   
SSAE 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information and conforming amendments to Singapore Framework for Assurance Engagements3 Feb 152 Mar 15 (Closed)
   
Signing Convention for Assurance, Review and Related Services Engagements
22 Jul 1418 Aug 14 (Closed)
   
Proposed Changes to the SSAs in Addressing Disclosures in the Audit of Financial Statements17 Jun 1414 Jul 14 (Closed)
   
SSA 720 (Revised), The Auditor's Responsibilities Relating to Other Information30 May 1426 Jun 14 (Closed)
   
SAP 2 (Revised), Auditors and Public Offering Documents25 Mar 1421 Apr 14 (Closed)
   
AGS 5 (Revised), Audits of Entities in Specific Industries, Professions or Vocations16 Oct 1313 Nov 13 (Closed)
   
Reporting on Audited Financial Statements: Proposed New and Revised Standards

IAASB Explanatory Memorandum
SSA 260 (Revised), Communication with Those Charged with Governance
SSA 570 (Revised), Going Concern
SSA 700 (Revised), Forming an Opinion and Reporting on Financial Statements
SSA 701, Communicating Key Audit Matters in the Independent Auditor’s Report
SSA 705 (Revised), Modifications to the Opinion in the Independent Auditor’s Report
SSA 706 (Revised), Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
Conforming Amendments to Other SSAs

4 Sep 139 Oct 13 (Closed)
   
SSA 610 (Revised 2013), Using the Work of Internal Auditors23 Jul 1319 Aug 13 (Closed)
   
SSRE 2400 (Revised), Engagements to Review Historical Financial Statements18 Feb 1317 Mar 13 (Closed)
   
SSA 610 (Revised), Using the Work of Internal Auditors29 May 1228 Jun 12 (Closed)
   
SSA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment29 May 1228 Jun 12 (Closed)
   
SSAE 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information12 Aug 1122 Aug 11 (Closed)