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1. Recent IAASB Releases
The following publications have recently been released on the IAASB’s website:
2. Spotlight on the IAASB’s Efforts to Respond to Calls to Enhance Audit Quality
At this meeting, the IAASB agreed to issue a combined Discussion Paper addressing key topics in its Work Plan for 2015–2016 relevant to enhancing audit quality, in particular quality control, group audits, special audit considerations relevant to financial institutions, and professional skepticism. The IAASB intends to issue the Discussion Paper in December 2015 with a 150-day comment period, supported by outreach in 2015 and 2016. Feedback from the Discussion Paper will inform the development of standard-setting project proposals, expected to be presented to the IAASB and the IAASB Consultative Advisory Group in September 2016. Discussion on the planned approach and issues relating to the four topics continues to be a prominent feature of the IAASB’s outreach activities.
3. Professional Skepticism
During its June 2015 meeting, the IAASB also hosted a panel discussion on the topic of professional skepticism. IAASB member Annette Köhler, who chairs the Professional Skepticism Working Group, introduced the topic. The panel was comprised of: Jeremy Justin, Canadian Public Accountability Board; Helen Munter, US Public Company Accounting Oversight Board; Doug Prawitt, Brigham Young University; and Cindy Fornelli, Center for Audit Quality. The Professional Skepticism Working Group is comprised of representatives from the IAASB, the IESBA, and the International Accounting Education Standards BoardTM in acknowledgement that actions by the three independent standard-setting boards may be appropriate to enhance professional skepticism.
4. Outreach and Collaboration
The IAASB has continued the extensive outreach program contemplated in its Strategy. It has compiled a detailed listing of its outreach activities. Recent activity of note includes:
In addition, the IAASB has responded to the US Public Company Accounting Oversight Board (PCAOB) Staff Consultation Paper on “The Auditor’s Use of the Work of Specialists.”
5. Redesigned Global Translations Database Now Available
IFAC has revamped its database of translated international standards, handbooks, and other resources. The new version is searchable and filterable, by language, status, source, and publication year.
6. The IAASB is Hiring
The IAASB is recruiting at both the Senior Technical Manager and Technical Manager levels for its staff team based in New York. For complete job descriptions and required skills and experience for these roles, see Working at IFAC. Qualified candidates should send their resume to email@example.com.
7. Next Meetings
The IAASB will meet September 21-25, 2015, in New York, USA. The agenda and meeting materials are posted approximately three to four weeks in advance on the IAASB Meetings page. Members of the public may register to observe the meetings and registration closes one week before the first day of the meeting. The next IAASB CAG meeting is scheduled for September 15-16, 2015, in New York, USA.
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