Updated October 2026
At its June 2026 meeting, the IAASB unanimously approved the exposure drafts for:
- Proposed International Standard on Auditing (ISA) 330 (Revised);
- Proposed ISA 500 (Revised), Audit Evidence;
- Proposed ISA 520 (Revised), Analytical Procedures; and
- Related conforming and consequential amendments arising from the proposed revisions.
The revisions to the three standards address, in an integrated manner, how auditors obtain and evaluate audit evidence and respond to risk—foundational aspects of every audit. Together, the proposals further embed, clarify, and strengthen the principles-based, risk-based audit framework, building on recent revisions to the ISAs, including ISA 315 (Revised 2019).
When final, the concurrent revisions will improve consistency in the auditor’s work effort supporting the delivery of high-quality audits by:
- Establish a comprehensive basis for auditors’ judgments about audit evidence, including aligning concepts and principles among the standards to support coherent and consistent work effort.
- Reinforcing professional skepticism and professional judgement throughout an audit, including when obtaining and evaluating audit evidence and in responding to risks of material misstatement.
- Strengthening auditors’ response to assessed risks, including by facilitating the design of robust procedures capable of detecting material misstatements at the assertion level by clarifying the principles underpinning effective substantive procedures.
- Clarifying and strengthening the auditor’s work on internal controls by broadening the scope of tests of controls and supporting auditors in exercising appropriate judgment about whether and when testing controls is an appropriate response to assessed risks of material misstatement; and
- Supporting innovation while maintaining principles-based standards that remain flexible and fit-for-purpose as technology evolves. The proposals address the increased use of technology in business, financial reporting, and auditing and clarify how the principle-based requirements apply when auditors use technology to obtain and evaluate audit evidence.
The proposed revisions to ISA 330, ISA 500 and ISA 520 were issued for public comment in early August 2026 and are open until December 15, 2026. During the consultation period, the IAASB is providing a range of resources and opportunities for stakeholders to explore proposals and share their perspectives, including:
- A consultation survey providing investors, analysts, lenders and other users of audited financial statements with a focused way to provide feedback;
- A four-part short video series exploring key aspects of the proposed revisions;
- A two-part global webinar series exploring key proposals in greater depth and providing opportunities to ask questions; and
- Targeted engagement with stakeholder groups.
For further information, visit the Audit Evidence and Risk Response focus pageand the Audit Evidence and Risk Response project page.
Updated October 2026
In September 2026, the IAASB discussed the first full drafts of:
- Proposed ISA 501 (Revised), Audit Evidence —Specific Considerations for Selected Items as it relates to inventory; and
- Proposed ISA 505 (Revised), External Confirmations.
In addition, the IAASB discussed the significant conforming and consequential amendments to Proposed ISA 330 (Revised).
The IAASB aims to modernize these standards to reflect the evolving business and audit environment. This includes addressing the implications of entities and auditors using technology in a principles-based manner so that the standards remain fit-for-purpose and addressing new or evolving risks and practical considerations, as well as reinforcing professional skepticism.
During its mid-quarter meeting on October 28, 2026, the IAASB will discuss an updated version of Proposed ISA 501 (Revised) as it relates to inventory. In December 2026, the IAASB will review exposure drafts for:
- Proposed ISA 501 (Revised) as it relates to inventory;
- Proposed ISA 505 (Revised); and
- Related conforming and consequential amendments arising from the proposed revisions.
Pending the IAASB’s approval of these exposure drafts, the public consultation will open in February 2027. For further information, visit the ISA 500 Series project page.
Updated October 2026
Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (the ISA for LCE) (Revised) was issued for public consultation on July 22, 2026; the consultation will end on November 17, 2026.
This first revision of the ISA for LCE reflects:
- ISA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements;
- ISA 570 (Revised 2024), Going Concern;
- The narrow scope amendments to the ISAs as a result of the revisions to the definitions of listed entity and public interest entity in IESBA Code; and
- The narrow scope amendments to IAASB Standards arising from the IESBA’s using the work of an external expert project.
In addition, the Explanatory Memorandum accompanying the Exposure Draft explains the IAASB’s views on the maintenance approach for the ISA for LCE and includes a question seeking stakeholders’ views on that approach.
Stakeholders are encouraged to submit responses to the consultation, using the Response Form available on the IAASB website.
To learn more about the maintenance of the ISA for LCE, visit the project page.
Updated October 2026
Since ISSA 5000 was issued in late 2024, the IAASB has focused on supporting its adoption and implementation. Most recently, this support includes frequently asked questions (FAQ) on the application of materiality, building on a growing suite of implementation materials available online.
The IAASB continues to develop additional FAQs addressing implementation issues and questions identified through stakeholder feedback, with further publications planned in Q4 2026. Joint IAASB-IESBA FAQs on group engagements are also planned for Q4 2026.
The IAASB continues to monitor ISSA 5000 adoption. Quarterly updates identify jurisdictions that have adopted ISSA 5000, as well as those where adoption is in progress or under consideration, and are available on the IAASB website.
Stakeholders feedback continues to inform the IAASB’s implementation support. The IAASB encourages stakeholders to submit questions and implementation matters for consideration through the “Submit Questions & Feedback on ISSA 5000 Implementation” form on the ISSA 5000 focus page.
Updated July 2026
In May 2026, the IAASB issued proposed International Standard on Review Engagements (ISRE) 2410 (Revised), Review of Interim Financial Information Performed by the Independent Auditor of the Entity’s Annual Financial Statements as an exposure draft for public comment. The consultation period will end on September 3, 2026.
The proposed revised standard, in a clarified format, aims to set a global baseline for consistent performance of high-quality interim review engagements, by:
- Setting clear requirements that include foundational principles of an interim review engagement, and more prescriptive requirements where necessary for clarity, to support consistency of application, or for ease of compliance.
- Strengthening or extending requirements related to going concern, fraud, group audits and non-compliance with laws and regulations, in recognition of the public interest associated with these areas; and
- Modernizing requirements related to the auditor’s interim review report, including a format consistent with the report on audited financial statements. The proposed interim review report also has a clearer description of an interim review engagement and its differences with an audit engagement, and a new section for reporting on going concern, in the context of a limited assurance engagement.
Stakeholders are encouraged to submit responses to the consultation, using the Response Form available on the IAASB website.
For further information, visit the ISRE 2410 project page.
Updated October 2026
At the September 2026 meeting, the IAASB considered feedback gathered through the public consultation survey on ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures. Respondents highlighted that the revised standard has strengthened the audit of accounting estimates and related disclosures.
However, challenges remain, particularly related to:
- Scalability and proportionality in applying the standard;
- Risk assessment procedures, including the interactions with ISA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, and performing retrospective reviews; and
- Determining the appropriate approach to respond to the assessed risks of material misstatement, developing an auditor point estimate or range and evaluating the results, and the use of experts.
The IAASB provided input on the Project Team’s analysis and its initial views and recommendations for addressing the identified challenges, including:
- Development of non-authoritative guidance; and
- Consideration of narrow-scope amendments to the standard.
The Project Team will continue its stakeholder outreach during the last quarter of 2026 to supplement survey responses and to further explore certain aspects of the feedback.
At the IAASB’s December 2026 meeting, the IAASB will consider recommendations for further actions and a draft Feedback Statement.
To learn more about the post-implementation review, visit the project page.
Updated October 2026
In July 2026, the IAASB joined the IESBA in Phase 1 of the Private Equity and Other External Investments (PE&OEI) in Accounting Firms initiative, following the IAASB's initial consideration in June. The collaboration seeks to develop an evidence-based understanding of evolving accounting firm ownership and external investment models and their implications, while enabling each Board to consider relevant matters within their respective remits.
For the IAASB, efforts to gather information is focused particularly on potential quality management considerations and whether the existing quality management principles remain fit-for-purpose.
During Q3, a Joint IESBA–IAASB Action Plan was developed outlining the approach to gather information in Phase 1, including desktop research and stakeholder outreach. At its September 2026 meeting, the IAASB discussed the proposed collaborative workstream approach, the IAASB's quality management focus, the Joint Action Plan, and initial feedback from research and outreach to date.
The next IAASB discussion will be in December 2026 when the IAASB Project Team, in collaboration with the IESBA Project Team, will update the IAASB on further findings from the project teams’ ongoing Phase 1 work.
Updated October 2026
In September 2026, the IAASB considered:
- A comprehensive analysis of the responses to the joint IAASB and IESBA Strategy and Work Plan (SWP) stakeholder survey.
- The initial views of the Joint IAASB-IESBA SWP Working Group on the survey responses, including the strategic positioning of the Boards for the 2028–2031 strategy period, key environmental trends affecting the Boards, and potential areas for joint action in their future work plans.
The IAASB also discussed the core elements of its Strategy and Work Plan for 2028–2031, including the IAASB's overall goal, strategic drivers, potential strategic objectives and actions, and possible work plan topics. The IAASB’s views will inform the development of the consultation paper that sets out a proposed strategy and work plan, which is expected to be discussed at the December 2026 IAASB meeting.
Coordination with the IESBA will continue throughout the development of the two Boards respective consultation papers.
Updated October 2026
In March 2026, the IAASB expressed support for the IAASB staff to undertake information-gathering activities relating to subject matter-specific assurance engagements other than sustainability.
This work, which began in Q2 2026, is intended to identify emerging or existing assurance engagements with potential global relevance; understand the standards being used to perform them; and help inform the IAASB’s potential role and prioritization of future action. Initial findings thus far were discussed by the IAASB at its September 2026 meeting.
The IAASB has decided not to pursue standard setting on assurance related to digital reporting tagging (e.g., assurance on XBRL) under the current Strategy and Work Plan for 2024–2027.
The IAASB supported further information gathering in several areas, including assurance engagements related to:
- systems and controls;
- controls at a service organization;
- one-to-many reports; and
- various other subject matters under ISAE 3000 (Revised).
In Q4 2026, IAASB staff will build on the initial results and the input received from the IAASB. A final report with recommendations will be discussed at the IAASB December 2026 meeting.
Updated July 2026
At its June 2026 meeting, the IAASB received its semi-annual monitoring update under Component 3 of the IAASB’s Technology Position and discussed proposed changes to the Technology Catalog. This update to the Technology Catalog was the first since the IAASB’s approval, in March 2026, of the IAASB’s Technology Catalog Process: Approach to Addressing Technology-Related Matters.
The approach formalizes how the IAASB identifies, evaluates, and responds to technology-related matters within its remit, including how such matters are included in the Technology Catalog, how their status is documented, and how the IAASB’s preliminary direction on actions is recorded.
The proposed changes to the Technology Catalog were informed by the IAASB’s monitoring activities, including input from the Technology Advisory Network, jurisdictional standard setters, the Stakeholder Advisory Council, outreach, research, and coordination with IAASB project teams. The changes include structural and framing refinements to improve readability and transparency, clearer descriptions of how matters are addressed through active IAASB projects or workstreams, and the introduction of new matters identified through monitoring activities.
The proposed new matters include audit challenges associated with entities with activities in the crypto-asset ecosystem; audit implications of increasingly sophisticated cybersecurity threats affecting entities; AI and cybersecurity assurance; and technology-related application questions that may arise in sustainability assurance engagements as ISSA 5000 begins to be applied. The IAASB also considered whether this monitoring update suggested any need to recalibrate aspects of the broader Technology Position.
Following the IAASB’s June discussion, Version 3 of the Technology Catalog has been published as a PDF, with a digital version to follow in Q3.
For further information, visit the Technology Position project page.
Updated October 2026
In Q3 2026, the Technology Quality Management Project Team continued developing the first and second in a planned series of guides, Common Conceptual Foundation, and Firm-Level Quality Management Before Deployment. Development of the guides reflects monthly discussions with the Technology Quality Management Expert Group, and input from the Technology Advisory Network and the Technology Consultation Group.
At its September 2026 meeting, the IAASB discussed proposed changes to the guide series, including:
- A revised four-guide structure, with the topic of enablement incorporated into guide 2; and
- Broadening the focus on AI-enabled technological tools, rather than only generative AI-enabled tools.
The IAASB also revised internal timeline landing points to provide the IAASB Board with more than one opportunity to engage with each of the four guides prior to approval. The publication timeline remains unchanged, with approval of the full guide series targeted for June 2027.
The IAASB conducted a section-by-section review of the proposed first guide (Agenda Item 2-A) and held an initial discussion on the working draft of the second guide (Agenda Item 2-B), providing directional input to support its further development.
The first guide on common conceptual foundation will establish a common foundation for the series, including its scope and terminology, the quality management standards that underpin the guidance, and the core considerations that inform quality management across the lifecycle of AI-enabled technological tools. It also emphasizes scalability and proportionality in applying the guidance.
The second guide on firm-level quality management before deployment builds on that foundation and focuses on firm-level quality management before an AI-enabled technological tool is made available for engagement use. It considers pre-deployment design, evaluation and enablement through the firm’s risk assessment process and selected components of its system of quality management.
Following the September 2026 meeting, the Project Team is refining the guides to reflect feedback. The IAASB is expected to approve the first guide at its October 2026 mid-quarter virtual meeting and the second guide at its December 2026 meeting.
For further information, visit the Technology Quality Management Workstream web page.