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.

Consultation closes December 15, 2026.

Video Introduction with IAASB Vice-Chair Edo Kienhuis

Explore the Exposure Drafts

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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

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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.

  2. August–September 2026

    Video Series

    Short videos exploring key aspects of the proposed revisions.

  3. September–October 2026

    Webinar Series

    Opportunities to hear from IAASB members and staff, explore the proposals, and ask questions.

  4. During the Consultation

    User Survey

    A focused survey seeking feedback on key areas of the proposals.

  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