Updated September 2025
At the September 2025 meeting, the IAASB discussed key insights from the significant project outreach with a broad range of stakeholders. These insights informed the IAASB’s ongoing deliberations as it works toward developing an exposure draft for the concurrent revisions of ISA 500, Audit Evidence; ISA 330, The Auditor’s Responses to Assessed Risks; and ISA 520, Analytical Procedures (in-scope standards).
Outreach included focused discussions with financial statements users, working sessions with audit regulators and oversight bodies, deep-dive sessions with individual audit firms, and engagements with the Forum of Firms, Global Public Policy Committee, International Federation of Accountants’ Small and Medium Practices Advisory Group, IAASB Jurisdictional Auditing Standard Setters Liaison Group, and professional accountancy organizations. In addition, the project team held a virtual roundtable discussion in July 2025 with diverse stakeholders to gather varying perspectives on selected topics under consideration for the project.
During the September 2025 meeting, the IAASB also discussed several topics relevant to ISA 330 and ISA 520, including technology-related matters and the auditor’s work on internal controls.
The next IAASB discussion for this project is scheduled for December 2025, when the IAASB will continue to consider stakeholder feedback and deliberate recommendations in relation to certain proposed actions in the project proposal to address key issues in developing an exposure draft for the in-scope standards. This will include further consideration of the Proposed ISA 500 (Revised) pre-finalization holding package, agreed to at the March 2024 IAASB meeting.
For further information, visit the Audit Evidence and Risk Response project page
Updated September 2025
The IAASB approved narrow-scope amendments to IAASB standards arising from revisions to the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) related to using the work of an external expert. These narrow-scope amendments apply to:
- ISA 620, Using the Work of an Auditor’s Expert
- ISRE 2400 (Revised), Engagements to Review Historical Financial Statements
- ISAE 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information
- ISRS 4400 (Revised), Agreed-upon Procedures Engagements
The amendments aim to maintain the interoperability of the IAASB standards with the new provisions in the IESBA Code related to using the work of an external expert. The as-approved text of the amendments is available on the IAASB website here (See “Agenda Item 2B.2 – Proposed Narrow Scope Amendments Final Approved”).
The IAASB will publish the narrow-scope amendments following certification by the Public Interest Oversight Board, which is anticipated in January 2026. The amendments will be effective for:
- Audits and reviews of financial statements for periods beginning on or after December 15, 2026; and
- Other assurance and related services engagements beginning on or after December 15, 2026.
For further information, visit the Experts Narrow-Scope Amendments project page.
Updated September 2025
In July 2025, the IAASB issued ISA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, to strengthen and clarify auditor responsibilities relating to fraud in an audit of financial statements. The standard is effective for audits of financial statements for periods beginning on or after December 15, 2026.
In addition to a Basis for Conclusions and fact sheet, the IAASB released a four-part video series outlining the key elements of the revised fraud standard in September 2025. The series provides an overview of what auditors need to know about the new fraud standard. The series includes:
- Introducing the Revised Fraud Standard;
- A Sharper Focus on Fraud Risk Assessment;
- A More Robust Response to Identified or Suspected Fraud; and
- Enhanced Transparency in the Auditor’s Report.
Learn more about the revised standard and access related resources on the Fraud and Going Concern focus area web page.
To learn more about the journey to this approved standard, visit the Fraud project page.
Updated August 2025
Following its approval at the December 2024 IAASB meeting, International Standard on Auditing 570 (Revised 2024), Going Concern, has been published.
The revised standard responds to corporate failures that raised questions regarding the auditor’s responsibilities by significantly enhancing the auditor’s work in evaluating management’s assessment of an entity’s ability to continue as a going concern. Effective for audits of financial statements for periods beginning on or after December 15, 2026, the revised going concern standard aims to promote consistent practice and behavior from auditors when addressing going concern.
The key revisions:
- Enable the robust identification of events or conditions that may cast significant doubt on the entities ability to continue as a going concern, strengthen the auditor’s evaluation of management’s assessment of going concern, and support the appropriate exercise of professional skepticism, including to consider the risk of management bias.
- Extend the commencement date of the twelve-month period of management’s assessment of going concern that is used as the basis for the auditor’s evaluation from the date of the financial statements to the date of approval of the financial statements.
- Enhance transparency with respect to the auditor’s responsibilities and work related to going concern, including strengthening communications and auditor reporting requirements.
To support effective implementation, the IAASB has published a fact sheet, Basis for Conclusion, frequently asked questions document, and a technical overview video alongside the revised standard.
To learn more about the journey to this approved standard, visit the Going Concern project page.
Updated September 2025
Based on information-gathering and research to date, at the June 2025 meeting the IAASB discussed initial issues identified as relevant for revising targeted standards in the ISA 500 Series. These standards include:
- ISA 501, Audit Evidence—Specific Considerations for Selected Items
- With a focus on inventory.
- ISA 505, External Confirmations; and
- ISA 530, Audit Sampling.
The next IAASB discussion of the project is scheduled for December 2025, when the IAASB will discuss feedback from additional information gathering. The IAASB will also review an initial draft project proposal outline.
In the meantime, significant outreach is ongoing, including discussions with firms, regulators and other stakeholders.
For further information, visit the ISA 500 Series project page.
Updated September 2025
Following the launch in January 2025 of International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, along with the ISSA 5000 Implementation Guide, the IAASB is progressively releasing further resources to support the adoption and implementation of ISSA 5000.
The IAASB is conducting ongoing outreach and developing materials:
- To encourage adoption of ISSA 5000 as the global baseline for sustainability assurance, for both mandatory and voluntary assurance engagements on sustainability information reported; and
- To support effective and consistent implementation of ISSA 5000, across different jurisdictions and practitioners, globally.
Stakeholders are invited to register for the upcoming 3-part webinar series: ISSA 5000 in Focus, to be held over three weeks in October and presented in two time zones. Recordings of the webinars will also be available following initial airing.
IAASB has identified the adoption status of ISSA 5000 or local equivalent, in collaboration with the IAASB Jurisdictional Auditing and Assurance Standard Setters Liaison Group, in their jurisdictions. Visit the ISSA 5000 web page for the ISSA 5000 jurisdictional adoption status or contact the IAASB to update us on adoption in your jurisdiction.
To support effective implementation of ISSA 5000, the IAASB invites stakeholders to submit implementation questions or matters for the IAASB’s consideration. To access the submission form, visit the ISSA 5000 web page “Submit Questions & Feedback on ISSA 5000 Implementation”.
The IAASB will be monitoring and supporting adoption and implementation across jurisdictions globally. Visit the ISSA 5000 web page to learn more about our actions.
Updated September 2025
The IAASB published the narrow-scope amendments to the ISQMs, ISAs and ISRE 2400 (Revised), Engagements to Review Historical Financial Statements, in September 2025, following approval at the June 2025 meeting and subsequent certification by the Public Interest Oversight Board.
The narrow scope amendments will be effective for audits (and reviews) of financial statements for periods beginning on or after December 15, 2026.
To assist its stakeholder understanding and implementing the narrow scope amendments, the IAASB has published a Basis for Conclusions, available on the website here.
To learn more about the journey to this approved narrow scope amendments, visit the Listed Entity & PIE Track 2 project page.
Updated September 2025
At its September 2025 meeting, the IAASB discussed staff recommendations to address key issues in developing an exposure draft of Proposed ISRE 2410 (Revised), Review of Interim Financial Information Performed by the Independent Auditor of the Entity.
These included discussions on:
- Selected sections of proposed ISRE 2410 (Revised), including those relating to engagement-level quality management, acceptance and continuance, and understanding the entity and its environment;
- The nature and extent of the auditor’s work effort relating to going concern in an interim review engagement, and the possible inclusion of explicit statements on going concern in the auditor’s interim review report; and
- Considerations relating to group interim review engagements.
The project team is now working on bringing a first full draft of the exposure draft of Proposed ISRE 2410 (Revised) to the IAASB’s December 2025 meeting.
For further information, visit the ISRE 2410 project page.
Updated September 2025
In September 2025, the IAASB had its first discussion on the proposed post-implementation review of ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures. The standard has been effective for audits of financial statements for periods beginning on or after December 15, 2019 (i.e., five audit cycles beginning with December 2020 audits).
The post-implementation review will follow a two-phased approach:
- Phase 1, Initial Information Gathering. During this phase, the project team seeks to gain a comprehensive understanding of the current landscape sufficient to identify key implementation areas that need to be explored through public consultation. Completion of this phase is scheduled for December 2025.
- Phase 2, Public Consultation and Development of Recommendations. The IAASB will conduct a public consultation through a stakeholder survey to solicit feedback across a broad range of stakeholder constituencies and geographical representation. The consultation will gather feedback on implementation challenges, questions, and benefits of applying ISA 540 (Revised). Feedback and comments will be considered by the project team along with input from additional targeted outreach or other information-gathering activities to develop views and recommendations for the IAASB’s consideration, with the aim to complete the post-implementation review by December 2026.
Updated September 2025
In September 2024, the IAASB adopted a new Technology Position that will guide how the IAASB adapts its work to embrace the intersection of audit, assurance, and technology. The Technology Position includes conducting ongoing gap analyses to ensure current standards align with technological advancements. The results of this gap analysis are available in the Catalog of Issues and Possible Actions. The Catalog is a living document that serves as the IAASB’s cross-functional repository for technology-related issues, informed by diverse sources, including stakeholder feedback and outreach activities. The IAASB aims to publish an update of the Catalog in October 2025; the Catalog will be reconsidered for an update in March 2026.
For further information, visit the Technology Position project page
Updated September 2025
In June 2025, the IAASB launched a Technology Quality Management initiative to:
- Understand how firms and practitioners are applying ISQM 1, Quality Management for Firms That Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, and ISA 220 (Revised), Quality Management for an Audit of Financial Statements, to emerging technologies used in audit and assurance engagements, particularly technological tools that are opaque and difficult to interpret.
- Determine whether additional support could facilitate using these technologies in a manner consistent with the public interest. In this regard, the IAASB’s working hypothesis is that non-authoritative materials may be the most timely and effective. This remains subject to stakeholder input.
This initiative emerged from the possible actions associated with Theme 3 of the IAASB’s Catalog of Issues and Possible Actions, which highlighted a need for further information gathering about the intersection of quality management and emerging technologies.
The IAASB began a six-month period of information gathering centered around a series of eight roundtables bringing together stakeholders with various backgrounds around the world, which began in October. This period of information gathering will culminate in a discussion of insights and recommendations of possible next steps at the December 2025 IAASB meeting.