Hong Kong

September 19 - 23, 2016

Meeting Summary

IAASB Podcast

IAASB-Podcast-September-23-2016 (39 MB)
0:00 to 0:49 Introduction
0:50 to 3:33 Chairman’s overview
3:34 to 8:05 ISA 540
8:06 to 11:29 ISA 315 (Revised)
11:30 to 19:38 Enhancing Audit Quality - Group Audits and Quality Control
19:39 to 22:17 Professional skepticism
22:18 to 22:34 2017-2018 Work Plan consultation
22:35 to 24:46 Agreed-Upon procedures
24:47 to 27:40 Changes in IAASB members, closing remarks and next meeting

Meeting Highlights

IAASB September 2016 meeting highlights-final (84K)

Agenda

Agenda Papers

Agenda Item 1 - Introduction and Opening Remarks

20160919-IAASB-Agenda Item 1-Introduction and Opening Remarks Final (80K) 20160919-IAASB-Agenda-Item-1A-Minutes and Opening Remarks-June-2016 Draft Public Minutes draft for Board review Marked (240K) 20160919-IAASB-Agenda-Item-1B-Minutes and Opening Remarks-June-2016 Draft Public Minutes draft for Board review Clean (239K) 20160919-IAASB-Agenda-Item-1C-Minutes-and-Opening-Remarks-July-2016-Teleconference Draft Public Minutes Marked (61K) 20160919-IAASB-Agenda-Item-1D-Minutes-and-Opening-Remarks-July-2016-Teleconference Draft Public Minutes Clean (60K)

Agenda Item 2 - ISA 540

20160919-IAASB Agenda Item 2 ISA 540-Cover-Final (41K) 20160919-IAASB Agenda Item 2A-ISA 540 Issues-Final (172K) 20160919-IAASB Agenda Item 2B-ISA 540-Markup final (410K) 20160919-IAASB Agenda Item 2C-ISA 540-Clean final (352K)

Agenda Item 3 - ISA 315

20160919-IAASB-Agenda Item 3-ISA 315 Revised Cover Final (74K) 20160919-IAASB-Agenda Item 3A-ISA 315 Revised Project Proposal final (159K) 20160919-IAASB-Agenda Item 3B-ISA-315-Revised-Issues-and-Recommendations final (226K)

Agenda Item 4 - COSO Framework

20160919-IAASB Agenda Item 4 COSO Presentation Cover Final (47K) 20160919-IAASB Agenda Item 4-A COSO Presentation (394K)

Agenda Item 5 - Enhancing Audit Quality

20160919-IAASB Agenda Item 5-Enhancing-Audit-Quality-Cover-Final (230K) 20160919-IAASB Agenda Item 5A-ITC Feedback and Options for Way Forward Final (285K) 20160919-IAASB Agenda Item 5B-Quality Control EQCR Issues and WG Views (525K) 20160919-IAASB Agenda Item 5C Group Audits Issues-Final (66K) 20160919-IAASB Agenda Item 5Supplement-A-Compilation of General Questions Responses (1.7 MB) 20160919-IAASB Agenda Item 5Supplement-B-Compilation of Quality Control Responses (2.8 MB) 20160919-IAASB Agenda Item 5Supplement-C-Compilation of Group Audits Responses (2.6 MB) 20160919-IAASB Agenda Item 5Supplement-D-Compilation of Professional Skepticism Responses (2.1 MB)

Agenda Item 6 - Agreed Upon Procedures

20160919-IAASB-Agenda-Item-6 -Agreed-Upon-Procedures-Cover (72K) 20160919-IAASB-Agenda-Item-6-A-Agreed-Upon-Procedures-Discussion Paper-Final (197K) 20160919-IAASB-Agenda-Item-6-B-Agreed-Upon-Procedures-Disposition of Comments (48K)

Agenda Item 7 - Auditor Reporting

20160919-IAASB Agenda Item 7-Auditor Reporting Cover (49K) 20160919-IAASB Agenda Item 7-A-Auditor Reporting Feedback FINAL (136K) 20160919-IAASB Agenda Item 7-B-Auditor Reporting FAQ FINAL (148K)

Agenda Item 8 - Professional Skepticism

20160919-IAASB Agenda Item 8 -Professional Skepticism Cover Note-final (71K) 20160919-IAASB Agenda Item 8-A-Professional Skepticism Issues Paper-final (326K) 20160919-IAASB Agenda Item 8-B-Professional Skepticism Impediments Table (111K) 20160919-IAASB Agenda Item 8-C-Professional-Skepticism-Straw-Man (41K) 20160919-IAASB Agenda Item 8-D-Professsional Skepticism Supplemental Reference (90K) 20160919-IAASB Agenda Item 8-E-Professional Skepticism Forward Looking Timetable (60K)

Minutes

Updated Agenda

Audio

Discussion held on September 19, 2016 AM Session

IAASB-Board-Meeting-September-19-2016-AM-Session-Part-I (107.8 MB)

IAASB-Board-Meeting-September-19-2016-AM-Session-Part-II (116.8 MB) IAASB-Board-Meeting-September-19-2016-AM-Session-Part-III (165.6 MB)
Agenda Item 1 – Opening Remarks
Agenda Item 2 – ISA 540 (Issues)

Discussion held on September 19, 2016 PM Session

IAASB-Board-Meeting-September-19-2016-PM-Session-Part-II (183.9 MB)
Agenda Item 2 – ISA 540 (Issues)
Agenda Item 3 – ISA 315 (Revised) (Project Proposal)
Agenda Item 4 – COSO Framework (Presentation)

Discussion held on September 20, 2016 AM Session

IAASB-Board-Meeting-September-20-2016-AM-Session-Part-I (171 MB) IAASB-Board-Meeting-September-20-2016-AM-Session-Part-II (170.6 MB)
Agenda Item 3 – ISA 315 (Revised) (Issues)
Agenda Item 5 – Feedback from ITC Responses and Enhancements (Discussion)

Discussion held on September 20, 2016 PM Session

IAASB-Board-Meeting-September-20-2016-PM-Session-Part-I (87.3 MB) IAASB-Board-Meeting-September-20-2016-PM-Session-Part-II (134.3 MB)
Agenda Item 5 – Enhancements (Discussion)
Agenda Item 5 – Group Audits (Issues)

Discussion held on September 21, 2016 AM Session

IAASB-Board-Meeting-September-21-2016-AM-Session-Part-I (165 MB) IAASB-Board-Meeting-September-21-2016-AM-Session-Part-II (134.7 MB) IAASB-Board-Meeting-September-21-2016-AM-Session-Part-III (145.7 MB)
Agenda Item 5 – Quality Control (Issues)
Agenda Item 7 – Auditor Reporting Implementation (Discussion)
Chairman’s remarks

Discussion held on September 22, 2016 AM Session

IAASB-Board-Meeting-September-22-2016-AM-Session-Part-I (107.3 MB) IAASB-Board-Meeting-September-22-2016-AM-Session-Part-II (112.8 MB)
Agenda Item 6 – Agreed-Upon Procedures (Discussion)

Discussion held on September 22, 2016 PM Session

IAASB-Board-Meeting-September-22-2016-PM-Session-Part-I (173.5 MB) IAASB-Board-Meeting-September-22-2016-PM-Session-Part-II (176.2 MB)
Agenda Item 8 – Professional Skepticism (Issues)

Discussion held on September 23, 2016 AM Session

IAASB-Board-Meeting-September-23-2016-AM-Session-Part-I (115.1 MB) IAASB-Board-Meeting-September-23-2016-AM-Session-Part-II (91.5 MB)
Agenda Item 2 – ISA 540 (Issues)
Recap
Closing Remarks

Presentations

 
 

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