Latest On Our Projects

Updated January 2026

In January 2026, after certification by the PIOB in December 2025, the IAASB issued 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) (the IESBA Code) 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 amendments are 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 December 2025

In December 2025, the IAASB discussed the comprehensive information-gathering and outreach undertaken to date, including key insights obtained from a broad range of stakeholders that provides the basis for scoping a project for revising targeted audit evidence standards in the ISA 500 Series. This includes:

• ISA 501, Audit Evidence —Specific Considerations for Selected Items
  • With a focus on inventory
• ISA 505, External Confirmations; and
• ISA 530, Audit Sampling.

Outreach to date includes deep-dive sessions with Monitoring Group members and the Forum of Firms; discussions with regulators and audit oversight authorities; working sessions with individual audit firms; meeting with the International Federation of Accountants’ Small and Medium Practices Advisory Group and the IAASB Jurisdictional Auditing and Assurance Standard Setters Liaison Group, and insights from meeting with a digital confirmation platform provider.

In December 2025, the IAASB also discussed a draft project proposal, including determining the specific ISA 500 Series standards to be included in a standard-setting project (i.e., the ‘in-scope standards’), public interest issues, and possible project objectives, actions and timeline for revising the in-scope standards.

The next IAASB discussion is scheduled for March 2026 when the IAASB will review and discuss an updated draft project proposal for approval.

For further information, visit the ISA 500 Series project page.

Updated December 2025

At the December 2025 meeting, the IAASB approved the project proposal of the first revision of the International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (the ISA for LCE), as a result of the following revised standards:

• 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 The International Ethics Standards Board for Accountants (IESBA)’ International Code of Ethics for Professional Accountants (including International Independence Standards); and
• The narrow scope amendments to IAASB standards arising from the IESBA’s using the work of an external expert project.

This maintenance project will be conducted as detailed in the IAASB Approach Statement, as discussed and cleared by the IAASB in December 2025. The maintenance approach establishes a mechanism that emphasizes that revisions to the ISA for LCE should be:

• Relevant in the context of the typical nature and circumstances of an audit of a less complex entity; and
• Aligned with the core requirements and concepts of the ISAs in a proportionate way.

The IAASB will discuss a first full draft of the proposed revised ISA for LCE at its March 2026 meeting.

To learn more about the maintenance of the ISA for LCE, visit the ISA for LCE project page.

Updated December 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.

In Q4 2025, IAASB published:

• Three-part webinar series: ISSA 5000 in Focus
• FAQ on the Relevance of ISSA 5000 to Assurance on Sustainability Reports in the European Union
• Sustainability Assurance Illustrative Reports

The IAASB is monitoring the adoption of ISSA 5000 or local equivalent in jurisdictions, in collaboration with the IAASB Jurisdictional Auditing and Assurance Standards Setters Liaison Group and regional professional bodies. Visit the ISSA 5000 web page for jurisdictional adoption status and contact the IAASB to update us on adoption in your jurisdiction.

To support effective and consistent 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”.

Updated December 2025

At its December 2025 meeting, the IAASB considered a first full draft of proposed ISRE 2410 (Revised), Review of Interim Financial Information Performed by the Independent Auditor of the Entity. Significant areas of discussion included:

• The clarity of the application material related to materiality in interim review engagements;
• Whether certain matters that may come to the auditor’s attention in the performance of an interim review engagement—such as fraud or suspected fraud, identified or suspected non-compliance with laws and regulations, or events and conditions that may cast significant doubt about the entity’s ability to continue as a going concern—automatically trigger the need to perform additional procedures (i.e., a deep dive); and
• The form and content of the auditor’s interim review report, including statements relating to going concern.

The project team is now revising the draft of Proposed ISRE 2410 (Revised) ahead of an anticipated exposure draft approval vote at the IAASB’s March 2026 meeting.

For further information, visit the ISRE 2410 project page.

Updated December 2025

At the December 2025 meeting, the IAASB approved the public consultation survey on ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures. The survey is designed to identify:

• Improvements or benefits from applying the revised standard; and
• Practical challenges or questions regarding its application, including whether it is being consistently understood and implemented.

The survey will be released for public comment in February 2026 with a 90 to 120-day comment period. The survey includes tailored questions to reflect the perspectives and experiences of different stakeholder groups, ensuring that each respondent is asked questions relevant to their role and interaction with ISA 540 (Revised) or its outputs.

The Project Team will consider comments received along with the input from additional targeted outreach or other information gathering to develop views and recommendations for the IAASB’s consideration; the first discussion is planned for September 2026.

To learn more about the Post-Implementation Review visit the project page.

Updated December 2025

In December 2025, the IAASB and the International Ethics Standards Board for Accountants (IESBA) approved a joint survey as a first step in the IAASB’s and IESBA’s process to develop their respective Strategies and Work Plans for 2028–2031.

The joint survey will be published in January 2026 to gather stakeholders’ views on specific matters, including the Boards’ strategic positioning, trends impacting the Boards and areas for joint actions. This information will help inform the Boards as they develop their respective consultation papers for their strategies and work plans.

The joint survey was developed with a broad range of stakeholders in mind as input from a diverse group of stakeholders will help the Boards better understand the role of professional accountants in the environment and how the Boards can best serve the public interest through their missions of developing high-quality international standards.

The next IAASB discussion of the strategy and work plan is scheduled for September 2026, when the IAASB will consider a summary of responses to the joint survey and review an initial draft of the IAASB’s strategy and work plan consultation paper.

Updated December 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, which was updated in November 2025 and will be reconsidered for an update in June 2026.

For further information, visit the Technology Position project page.

Updated December 2025

In June 2025, the IAASB launched a Technology Quality Management Workstream 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 (subject to stakeholder input).

The initiative emerged from the possible actions associated with Theme 3 of the IAASB’s Catalog of Issues and Possible Actions.

The IAASB’s working hypothesis guiding the initiative is that, while emerging technologies introduce new and evolving risks, the existing principles-based framework of the IAASB’s quality management standards, together with additional support from the IAASB, could provide a robust foundation for effectively managing these risks.

In December 2025, the IAASB completed a six-month information-gathering phase that included eight roundtables held around the world. The IAASB reviewed and discussed insights from these roundtables, together with findings from other outreach. Based on these insights, the IAASB decided to develop non-authoritative material to support consistent and effective application of the quality management standards to emerging technologies.

The IAASB plans to discuss the initiative in March 2026, when the IAASB expects to consider a proposed action plan, including the initiative’s objective and scope, the themes or topics to be addressed, the proposed development process (including potential forms of output), and the nature, scope, and timing of anticipated deliverables.

For further information, visit the Technology Quality Management Workstream project page.