New IAASB Fact Sheet Addresses Engagement Team Definition
“Engagement Team” clarified, updated as part of the suite of quality management standards released in 2020
May 02, 2022 | English
To help users of its standards adapt to the clarified and updated definition of “engagement team”, the International Auditing and Assurance Standards Board (IAASB) has released a new fact sheet. The new fact sheet addresses the clarified definition and its possible impacts, including recognition that engagement teams may be organized in a variety of ways, including across different locations or by the activity they are performing. The fact sheet also includes a diagram that walks users through who specifically is included and excluded.
This new engagement team definition applies to the International Standards on Auditing and International Standards on Quality Management.