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The International Auditing and Assurance Standards Board is an independent standard-setting body that serves the public interest by setting high-quality international standards for auditing, assurance, and other related areas, and by facilitating their adoption and implementation. In doing so, the IAASB enhances the quality and consistency of practice throughout the world and strengthens public confidence in the global auditing and assurance profession.
Updated: Focus on Audit Quality
SPOTLIGHT ON:
Do you have questions about ISA 315 (Revised) Exposure Draft?
The IAASB will host a second 90-minute webinar on the key revisions to the auditor’s risk identification and assessment procedures, as introduced through the recently published ISA 315 (Revised) Exposure Draft. The webinar will focus on specific questions sent from stakeholders about the changes we are proposing. Register now and submit your questions.
ISA 315 Exposure Draft Key Revisions Explained
Listen to IAASB Task Force Chair Fiona Campbell as she explains how International Standard on Auditing 315 (Revised) will improve audit quality through better guidance on identifying and assessing material misstatement risks. This 90 minute webinar contains useful information to help our stakeholders understand the proposed changes to the standard. You have until November 2nd to provide your comment to the Exposure Draft.
In June 2018, the IAASB approved International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures as a final standard. The revised ISA will be effective for audits of financial reporting periods beginning on or after December 15, 2019. Early adoption is permitted and encouraged. To facilitate early adoption, the IAASB has published the text of ISA 540 (Revised) pending Public Interest Oversight Board’s confirmation that due process was followed. Subject to receiving the PIOB’s confirmation, the final standard is anticipated in October 2018. The IAASB has also published the text of the approved conforming and consequential amendments arising from ISA 540 (Revised).
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LATEST PUBLICATIONS & RESOURCES
Exposure Draft, ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement
IAASB
QUICK LINKS
- The IAASB Is Hiring
- Interim Nominating Committee
- 2014/2015 IAASB Biennial Report
- IAASB Work Plan for 2017‒2018
- IAASB Strategy for 2015–2019
- 2016-2017 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
- IAASB Fact Sheet
- A Framework for Audit Quality: Key Elements that Create an Environment for Audit Quality
- Due Process
- IAASB Terms of Reference
IAASB on Twitter 
We approved the ED of ISRS 4400 (Revised) #AUP today! The updated ISRS 4400 better meets user's needs for increased accountability and enhances services available to entities of all sizes. #Auditing #Accounting #AUP https://t.co/d9BCY6h79o (1 day ago)
RT @IAASB_News: Have questions about ISA 315 Exposure Draft? Send us your questions to get answers during our next webinar on October 3rd:… (1 day ago)
Presentation from Incoming IFAC CEO Kevin Dancey to the @IAASB_News @Ethics_Board at the Joint Board session #Accounting https://t.co/0vfRQpXIzk (2 days ago)
@IAASB_News @Ethics_Board discuss future strategy and work plans at the Joint #IAASB #IESBA board meeting session. @megan_zietsman @SchilderArnold #Auditing #Ethics https://t.co/yc3eAu0J9b (2 days ago)
Audit Quality Control standards are at the heart of discussions during the our September Board meeting https://t.co/RBLvlBkdF6 (5 days ago)
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