IAASB Completed Projects


Extended External Reporting (EER) Assurance

Extended External Reporting (EER) Assurance is used to describe engagements to provide assurance on different forms of non-financial reporting, including integrated reporting, sustainability reporting and non-financial reporting about environmental, social and governance matters. This

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Quality Management at Firm Level - ISQM 1

The objectives of this project were:

  • Enhancing the robustness of firm’s systems of quality control through various means, including:
    • Introducing a more proactive and tailored approach to managing quality.
    • Increasing firm leadership responsibilities and accountability, and improving firm governance.
    • More rigorous monitoring of systems of quality control

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Engagement Quality Reviews - ISQM 2

The objective of this project were to enhance the requirements and application material in relation to the firm’s engagement quality reviews (EQRs), including:

  • setting more robust criteria for firms to apply when determining which engagements should be subject to an EQR;
  • establishing the objective of an EQR;
  • clarifying the nature, timing and extent of the EQR; and

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Quality Management at Engagement Level - ISA 220

The objectives of the project are to:

(a)   Propose revisions to ISA 220 to strengthen aspects of quality management for individual engagements by focusing on the identification, assessment and response to quality risks in a broad range of engagement circumstances.

(b)   Propose consequential amendments to other standards that may be necessary as a result of

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Agreed-Upon Procedures – ISRS 4400

The project objectives are to:

  • Redraft the standard using the clarity drafting conventions so that this standard is consistent with other IAASB International Standards
  • Revise the standard to better reflect practice in AUP engagements being undertaken

Project Contact

IAASB Communications

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Group Audits – ISA 600

The project to revise ISA 600, Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) aimed

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ISA 315 (Revised)

The objectives of the project are to:

(a) Propose revisions to ISA 315 (Revised), establishing more robust requirements and appropriately detailed guidance to drive auditors to perform appropriate risk assessment procedures in a manner commensurate with the size and nature of the entity. It is anticipated that these revisions will focus on enhancing the auditor’s approach to

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Auditor Reporting Implementation

The work of the Auditor Reporting Implementation Working Group (ARIWG) was to promote awareness, understanding and support effective implementation of the new and revised auditor reporting standards through the issueance of the below guidance material. The ARIWG also undertook a post-

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Innovation Working Group

The objective of the Innovation Working Group (Formerly Innovation, Needs and Future Opportunities (INFO) Working Group) is to explore emerging developments in the audit, assurance and related services fields for the purpose of assisting the IAASB in identifying opportunities for relevant and effective standard setting, or determining other potential actions, in a timely and informed

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Conforming Amendments to the IAASB's Other Standards due to Quality Management Standards

The IAASB approved the new and revised quality management standards and issued these standards on December 17th, 2020. As a result, the IAASB needed to consider conforming and consequential amendments to the IAASB’s Other Standards and the International Framework for Assurance Engagements where they make reference to the extant quality control standards. The IAASB’s Other Standards refer to

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