In this eNews you will find:
- Highlights from our June meeting
- Information about the maintenance of the ISA for LCE
- Our plans for Q3 2026
- Key dates for this quarter
Highlights from Our June Meeting
During our June 2026 meeting, we approved:
- The Exposure Drafts of Proposed Revisions to International Standard on Auditing (ISA) 330, The Auditor’s Responses to Assessed Risks, ISA 500, Audit Evidence, and ISA 520, Analytical Procedures (Audit Evidence and Risk Response project). These exposure drafts will be released as a package in August.
- The Exposure Draft of Proposed Revisions to the ISA for Less Complex Entities (LCE), which will be released in mid-July.
Other topics we discussed during our meeting include:
- Technology Quality Management – We discussed the proposed roadmap for the Technology Quality Management guide series, which is being developed as non-authoritative material. Building on the Action Plan approved in March 2026, the discussion helped further refine the roadmap and make it more concrete and actionable.
- Technology Catalog – We discussed the latest monitoring update on emerging technological developments and proposed changes to the Technology Catalog. The updated Technology Catalog promotes transparency by giving stakeholders greater visibility into the technology-related matters we are monitoring and how those matters are progressing. The updated Technology Catalog has been published as a PDF with an interactive, digital version to follow later in Q3.
- ISA 500 Series (Project Stage: Exposure Draft Development) – We discussed all key issues included in the project proposal related to inventory and external confirmations and preliminary drafting for some of the issues.
Recordings of the June 2026 meeting are available on our YouTube channel; more information on our projects can be found on the Latest on Our Projects web page.
Maintenance of the ISA for LCE
In December 2023, we published the ISA for LCE, a standalone standard that is proportionate and tailored to the needs of an audit of financial statements of a smaller and less complex entity. The standard provides a global solution to growing concern about the length, complexity, and understandability of the ISAs and their application to audits of less complex entities. The standard is effective for audits of financial statements for periods beginning on or after December 15, 2025.
We are committed to maintaining the ISA for LCE and developed an Approach Statement for Maintaining the ISA for LCE, which explains the approach and key principles for revising the standard in light of new or revised ISAs. It focusses on developing revisions that are relevant in the context of the typical nature and circumstances of an audit of a less complex entity and aligns the core requirements and concepts of the ISAs in a proportionate way. Also, it operationalizes the maintenance of the standard in a manner that is both effective and efficient, while ensuring transparency and consistency in execution.
In Q3 2025, we commenced the first maintenance project of the ISA for LCE as a result of the following projects:
- Fraud – ISA 240 (Revised);
- Going Concern – ISA 570 (Revised 2024);
- Listed Entity and Public Interest Entity (Narrow-Scope Amendments); and
- Experts (Narrow-Scope Amendments).
The proposed revisions to the ISA for LCE were unanimously approved for exposure at the June 2026 meeting. We expect to issue the Exposure Draft for public consultation in mid-July.
For more information on the ISA for LCE, access the ISA for LCE web page.
Looking Ahead: Our Plans for Q2 2026
Consultations
In Q3 2026 we plan to publish the following consultations:
- Proposed Revisions to the ISA for LCE – to be published on July 22, with the comment period ending on November 17.
- Proposed Revisions to ISA 330, The Auditor’s Responses to Assessed Risks, ISA 500, Audit Evidence, and ISA 520, Analytical Procedures – to be published in early August, with the comment period ending in December.
In addition, Proposed ISRE 2410 (Revised), Review of Interim Financial Information Performed by the Independent Auditor of the Entity is currently open for public consultation until September 3.
IAASB Handbook
We expect to release the 2026 edition of our Handbook of International Quality Management, Auditing, Review, Other Assurance, and Related Services Pronouncements in Q3 2026.
ISSA 5000 on Sustainability Assurance
As we continue supporting adoption and implementation of ISSA 5000, we are developing a series of frequently asked questions (FAQ) and updating jurisdictional adoption information. Access resources on the dedicated ISSA 5000 web page, including the recently released FAQ on the application of materiality.
Key Dates for this Quarter
From September 14 to 17, the IAASB will meet in New York, USA. The meeting agenda and meeting papers will be available on our September 2026 meeting webpage approximately two weeks in advance of the meeting. This meeting will be livestreamed on our YouTube channel.