The International Auditing and Assurance Standards Board (IAASB) today released for public consultation an Exposure Draft that proposes revisions to International Standard on Review Engagements (ISRE) 2410, Review of Interim Financial Information by the Independent Auditor of the Entity’s Annual Financial Statements.
The proposed revisions represent the first comprehensive review of the standard since its issuance in 2005. These proposed revisions reflect changes in the global environment and improvements to the audit and assurance model made over the last two decades.
“Interim financial information, such as quarterly and semi-annual reporting, plays an important role for investors,” said IAASB Chair Tom Seidenstein. “These proposals seek to reinforce confidence in interim review engagements by clarifying expectations, strengthening consistency in practice, and improving communication to users.”
Key proposals include a clearer articulation of what an interim review engagement is and how it differs from a financial statement audit. They also include enhanced requirements in areas of high public interest, such as going concern, fraud, and non-compliance with laws and regulations (NOCLAR). Investors and other users will also benefit from improved transparency in the auditor’s interim review report. Additional enhancements include requirements related to engagement-level quality management, determining materiality for planning and performing an engagement, and group interim review engagements.
The IAASB coordinated closely with the International Ethics Standards Board for Accountants (IESBA) in developing these proposals to align the standard and ethics considerations for interim review engagements. The consultation also seeks stakeholder input on two matters related to the application of the IESBA Code of Ethics to interim review engagements.
The IAASB encourages stakeholders to review the proposals carefully and provide their views using the Response Form available on the IAASB website. Stakeholder feedback through this public consultation will help ensure the revised standard is clear, practical, and globally operable.
Comments are requested by September 3, 2026.
About the IAASB
The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.