Strengthening the Risk-Based Audit Framework: Proposed Revisions to ISA 330, ISA 500, and ISA 520

The IAASB is seeking feedback on proposed revisions to three core International Standards on Auditing (ISAs) that address audit evidence and auditors' responses to assessed risks—foundational aspects of every audit.

The proposals further embed a principles-based, risk-based audit framework while supporting rapid digital innovation in an evolving business, financial reporting, and technology environment.

Share your feedback by December 15, 2026.

Start Here: An Introduction with IAASB Vice-Chair Edo Kienhuis

Explore the Exposure Drafts

Ways to Provide Feedback

Respond to the Full Consultation

Stakeholders are invited to provide feedback on the full range of proposals using the Response Form.

User of Financial Statements? Share Your Views

The IAASB has developed a User Consultation Survey for investors, analysts, lenders and other users of audited financial statements. The survey provides a focused way to share your perspectives on selected aspects of the proposals without needing to address the full range of matters covered by the consultation.

Take the User Consultation Survey Here

Survey questions are available here in MS Word for planning purposes.

Both the Response Form and User Consultation Survey are open until December 15, 2026.

Abstract connected circles

The Proposed Revisions

These proposed revisions, when finalized, will complete an important phase of the IAASB's decade-long modernization of the International Standards on Auditing.

Building on recent revisions—including ISA 315 (Revised 2019)—the proposals further embed, clarify, and strengthen a principles-based, risk-based audit framework. They also address the increased use of technology in business, financial reporting, and auditing.

Establish a comprehensive basis for auditors' judgments about audit evidence

Strengthen auditors' responses to assessed risks

Reinforce professional skepticism and professional judgment throughout the audit

Support innovation while remaining principles-based rather than technology-specific

Abstract connected circles

Explore the Proposals and Engage With Us

Video Series: Explore Key Aspects of the Proposals

Our four-part video series takes a deeper look at key aspects of the proposed revisions to ISA 330, ISA 500 and ISA 520.

An Introductory Overview with Neil Morris, IAASB Member

Evaluating the Relevance and Reliability of Information with Edo Kienhuis, IAASB Vice-Chair

Reinforcing a Risk-Based Audit with Josephine Jackson, Project Advisor and Former IAASB Vice-Chair

Additional Video Coming Soon
  • Technology and the Audit Evidence & Risk Response Proposals with Susan Jones, IAASB Technical Advisor
Global Webinar Series

Join IAASB members and staff for a two-part webinar series exploring the proposals in greater depth, with opportunities to ask questions.

Part 1: Overview of the AE&RR Proposals and Reference Framework – Proposed ISA 500 (Revised)

Part 2: Performance Aspects of the AE&RR Proposals – Proposed ISA 330 (Revised) and Proposed ISA 520 (Revised)

The webinars will be held on Zoom and livestreamed on YouTube. Each webinar will be offered twice to accommodate participants across different time zones. Additional webinar details, including speakers, available here.

Abstract connected circles

Consultation Timeline

Key Dates and Activities

Resources and opportunities to engage will be added throughout the consultation period.

  1. August 5, 2026

    Consultation Launch

    Exposure Drafts, response form, introductory video, and stakeholder slide deck published.

    Download the Response Form

  2. August-December 2026

    User Consultation Survey

    A focused way for investors, analysts, lenders and other users of financial statements to provide feedback on selected aspects of the proposals. Survey questions are available in MS Word here.

    Take the User Consultation Survey Here

  3. August–September 2026

    Video Series

    Short videos exploring key aspects of the proposed revisions. Watch the first three videos above.

  4. September-October 2026

    Webinar Series

    Opportunities to hear from IAASB members and staff, explore the proposals, and ask questions. Registration opens soon for:

    • September 29 or 30: Overview of the AE&RR Proposals and Reference Framework – Proposed ISA 500 (Revised)
    • October 5 or 7: Performance Aspects of the AE&RR Proposals – Proposed ISA 330 (Revised) and Proposed ISA 520 (Revised)

    Register Here

  5. December 15, 2026

    Consultation Closes

    Submit your response to the IAASB by the closing date.

    Download the Response Form

"Over the past decade, the IAASB has modernized the International Standards on Auditing to strengthen audit quality and respond to an evolving environment. These proposals are an important milestone in that work. With the benefit of stakeholder input and when finalized, the revised standards will further enhance a principles-based, risk-based audit framework that provides a stable foundation for high-quality audits while remaining flexible enough to support innovation as technology continues to evolve."
—IAASB Chair Tom Seidenstein