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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 hosted 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 focused on specific questions sent from stakeholders about the changes we are proposing. A replay of the webinar can be accessed here. The webinar slides can be accessed here.
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
Professional Skepticism Lies at the Heart of a Quality Audit
IAASBISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures
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 
#GlobalEthicsDay2018 is a reminder that ethics underpins the work of all #accountants in the global economy. #EthicsStrong https://t.co/hr5GMIvrVA (4 days ago)
Have you submitted comments on ISA 315 (Revised) Exposure Draft? Comment period closes on Nov 2nd: https://t.co/plPadxQRV4 (4 days ago)
The revised ISA 540 standard is part of the IAASB’s wider effort to improve audit quality around the world @AccountingToday https://t.co/wxVqOiKDng (5 days ago)
RT @IFAC: Make way for Gen Z! Take a look at the next generation's perspective on careers, public policy, and more https://t.co/fswMyU7hzB… (5 days ago)
Global #audit standards help #BuildTrust in the global economy. We salute all international standard setters today #WorldStandardsDay2018 https://t.co/Raqnz7Q8KF https://t.co/8ms6489FeS (1 week ago)
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