Improving the Auditor’s Report

IAASB Invitation to Comment

IAASB
Jun 21, 2012 | Exposure Drafts and Consultation Papers
46 Pages
English

Comments due by: Oct 08, 2012

This Invitation to Comment (ITC) sets out the IAASB’s indicative direction proposed for the future auditor’s report. It features a revised auditor’s report that illustrates the application of the IAASB’s suggested improvements to auditor reporting. The ITC also provides the IAASB’s rationale for the suggested improvements, together with a discussion of their potential value and impediments, and in what areas feedback is sought. The At a Glance publication provides an overview of the ITC.

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Submitted Comment Letters

1. Bob Mendick  (United States)
August 2, 2012

2. Westworth Kemp Consultants  (Australia)
August 20, 2012

3. Mansour Shams Ahmadi  (Iran (Islamic Republic of))
August 23, 2012

4. John Kelly  (United States)
August 30, 2012

5. Canadian Securities Administrators Chief Accountants Committee  (Canada)
August 31, 2012

6. U.S. Chamber of Commerce Center of Capital Markets  (United States)
September 5, 2012

7. California Society of Certified Public Accountants  (United States)
September 11, 2012

8. Malaysian Institute of Certified Public Accountants  (Malaysia)
September 11, 2012

9. British Petroleum  (United Kingdom)
September 13, 2012

10. CGA-Canada  (Canada)
September 17, 2012

11. Jeff Mahoney  (United States)
September 20, 2012

12. Pricewaterhouse Coopers International Limited  (Pakistan)
September 21, 2012

13. Inernational Corporate Governance Network  (United Kingdom)
September 24, 2012

14. Auditor General New Zealand  (New Zealand)
September 26, 2012

15. International Association of Insurance Supervisors  (Switzerland)
September 28, 2012

16. New York State Society of Certified Public Accountants  (United States)
October 2, 2012

17. Richard Overweg  (Netherlands)
October 3, 2012

18. Robyn Moroney- Monash University  (Australia)
October 3, 2012

19. Standard Life Investments  (United Kingdom)
October 3, 2012

20. American Accounting Association- Auditing Standards Committtee of the Auditing Section  (United States)
October 4, 2012

21. Botswana Institute of Chartered Accountants  (Botswana)
October 4, 2012

22. Crowe Horwath Australia & New Zealand  (Australia)
October 4, 2012

23. HKFRC- Financial Reporting Council  (Hong Kong (Special Administrative Region of China))
October 4, 2012

24. SRA (Netherlands Network)  (Netherlands)
October 4, 2012

25. Sovann Giang  (Singapore)
October 4, 2012

26. TREUHAND-KAMMER Swiss Institute of Certified Accountants  (Switzerland)
October 4, 2012

27. The Canadian Institute of Chartered Accountants  (Canada)
October 4, 2012

28. The Securities Analysts Association of Japan  (Japan)
October 4, 2012

29. Auditor General of Canada  (Canada)
October 5, 2012

30. Canadian Natural Resources Limited  (Canada)
October 5, 2012

31. Chris Barnard  (Germany)
October 5, 2012

32. Collins Barrow- CA Association  (Canada)
October 5, 2012

33. Confederation of British Industry- UK  (United Kingdom)
October 5, 2012

34. Consiglio nazionale dei Dottori Commercialisti  (Italy)
October 5, 2012

35. Eumedion  (Netherlands)
October 5, 2012

36. Gaviller & Company LLP  (Canada)
October 5, 2012

37. General Of Manitoba  (Canada)
October 5, 2012

38. Government Accountability Office  (United States)
October 5, 2012

39. IFAC Small and Medium Practices Committee  (United States)
October 5, 2012

40. Institute of Certified Public Accountants of Singapore  (Singapore)
October 5, 2012

41. Institute of Chartered Accountants of India  (India)
October 5, 2012

42. MNP LLP- formerly Meyers Norris Penny  (Canada)
October 5, 2012

43. Mexican Institute of Public Accountants  (Mexico)
October 5, 2012

44. Standard & Poor's Ratings Services  (United States)
October 5, 2012

45. Taylor Leibow  (Canada)
October 5, 2012

46. WBLI Chartered Accountants  (Canada)
October 5, 2012

47. Auditor General Alberta  (Canada)
October 6, 2012

48. Khurshed Pastakia , FCA  (India)
October 6, 2012

49. CPA Australia  (Australia)
October 7, 2012

50. Deloitte Touche Tohmatsu Limited  (United States)
October 7, 2012

51. Grant Thornton International Ltd  (United Kingdom)
October 7, 2012

52. Jacob Ploag  (New Zealand)
October 7, 2012

53. National Audit Office  (China)
October 7, 2012

54. National Federation of Certified Public Accountant Associations of the Republic of China  (Chinese Taiwan)
October 7, 2012

55. RICARDO JULIO RODIL - PARTNER AT BAKER TILLY BRASIL  (Brazil)
October 7, 2012

56. ASSIREVI - Association of Italian audit firms  (Italy)
October 8, 2012

57. American Institute of Certified Public Accountants Auditing Standard Board  (United States)
October 8, 2012

58. Association of Chartered Certified Accountants  (United Kingdom)
October 8, 2012

59. Auditor General of Québec  (Canada)
October 8, 2012

60. Australian Institute of Company Directors  (Australia)
October 8, 2012

61. BCEM- Jean Bedard, Paul Coram, Reza Espahbodi and Theodore Mock  (Canada)
October 8, 2012

62. BDO Interntional Limited  (United Kingdom)
October 8, 2012

63. Baker Tilly UK (Investment Manager)  (United Kingdom)
October 8, 2012

64. BlackRock, Inc.  (United States)
October 8, 2012

65. CSIPPC - Audit Oversight Body in Romania  (Romania)
October 8, 2012

66. Canadian Auditing and Assurance Standards Board  (Canada)
October 8, 2012

67. Center for Audit Quality  (United States)
October 8, 2012

68. Chartered Institute of Management Accountants  (United Kingdom)
October 8, 2012

69. China Securities Regulatory Commission  (China)
October 8, 2012

70. Crowe Clark Whitehill LLP  (United Kingdom)
October 8, 2012

71. Crowe Horwath International  (United States)
October 8, 2012

72. Denise Juvenal and Manuel Rejon  (Brazil)
October 8, 2012

73. Dubai Financial Services Authority  (United Arab Emirates)
October 8, 2012

74. European Federation of Accountants and Auditors for SMEs  (Europe)
October 8, 2012

75. FSR- Danish Institute of Accountants  (Denmark)
October 8, 2012

76. GCSPS- Group of credit solution providers in Sweden  (Sweden)
October 8, 2012

77. Hermes Equity Ownership Services  (United States)
October 8, 2012

78. Hunter College - advanced auditing class at the graduate school  (United States)
October 8, 2012

79. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW)  (Germany)
October 8, 2012

80. Institute Of Certified Public Accountants Of Kenya  (Kenya)
October 8, 2012

81. Institute Van de Bedrijfsrevisoren Institut des Reviseurs d'Enterprises  (Belgium)
October 8, 2012

82. Institute of Certified Public Accountants of Uganda  (Uganda)
October 8, 2012

83. Institute of Chartered Accountants 'of Nigeria  (Nigeria)
October 8, 2012

84. Institute of Chartered Accountants Sri Lanka  (Sri Lanka)
October 8, 2012

85. Institute of Chartered Accountants in England and Wales  (United Kingdom)
October 8, 2012

86. Institute of Chartered Accountants of Scotland  (United Kingdom)
October 8, 2012

87. Ishwar Chandra  (India)
October 8, 2012

88. Japanese Institute of Certified Public Accountants  (Japan)
October 8, 2012

89. Johannesburg Stock Exchange  (South Africa)
October 8, 2012

90. Joseph V. Carcello  (United States)
October 8, 2012

91. KPMG IFRG Limited (Network)  (United Kingdom)
October 8, 2012

92. Kammer der Wirtschaftstreuhander- Chamber of Public Accountants in Austria  (Austria)
October 8, 2012

93. Kreston International  (United Kingdom)
October 8, 2012

94. MEDEF-Mouvement des Enterprises de France  (France)
October 8, 2012

95. Malta Institute of Accountants (MIA)  (Malta)
October 8, 2012

96. National Association of Pension Funds  (United Kingdom)
October 8, 2012

97. PKF (UK) LLP  (United Kingdom)
October 8, 2012

98. PKF International Limited  (United Kingdom)
October 8, 2012

99. Paul Gillis - Peking University  (China)
October 8, 2012

100. Pitcher Partners  (Australia)
October 8, 2012

101. RSM International  (United Kingdom)
October 8, 2012

102. Ramachandran Mahadevan  (India)
October 8, 2012

103. Rigsrevisionen  (Denmark)
October 8, 2012

104. Sweden National Audit Office  (Sweden)
October 8, 2012

105. The Hundred Group of Finance Directors- UK  (United Kingdom)
October 8, 2012

106. The Institute of Internal Auditors  (United States)
October 8, 2012

107. The World Bank  (United States)
October 8, 2012

108. University of the Witwatersrand (Auditing Masters Class)  (South Africa)
October 8, 2012

109. Vera F. Massarygina PHD  (Russian Federation)
October 8, 2012

110. Zambia Institute of Chartered Accountants  (Zambia)
October 8, 2012

111. FAR- Institute for the Accountancy Profession in Sweden  (Sweden)
October 9, 2012

112. Federation of Accounting Professions of Thailand  (Thailand)
October 9, 2012

113. Felicitas T Irungu  (United Kingdom)
October 9, 2012

114. Hawkamah Institute for Corporate Governance (Dubai)  (United Arab Emirates)
October 9, 2012

115. Securities Commission of Malaysia Audit Oversight Board  (Malaysia)
October 9, 2012

116. Wirtschaftspryuferkammer  (Germany)
October 9, 2012

117. Argentine Federation of Professionals Councils of Economic Sciences  (Argentina)
October 10, 2012

118. Association of British Insurers  (United Kingdom)
October 10, 2012

119. FEE- Fédération des Experts comptables Européens  (Europe)
October 10, 2012

120. Group of 100- Australia  (Australia)
October 10, 2012

121. ICAC Ministry of Economics and Competiveness (Institute Of Accounting and Audit)  (Spain)
October 10, 2012

122. Institute of Certified Public Accountants Ireland  (Ireland)
October 10, 2012

123. Insurance Europe  (Belgium)
October 10, 2012

124. Sizwe Ntsaluba Gobodo  (South Africa)
October 10, 2012

125. Ernst & Young Global Limited  (United Kingdom)
October 11, 2012

126. Investment Management Association  (United Kingdom)
October 11, 2012

127. Mazars  (France)
October 11, 2012

128. PricewaterhouseCoopers International Limited  (United Kingdom)
October 11, 2012

129. VNO-NCW -Financial Reporting Policy Committee of the Confederation of Netherlands Industry and Employers  (Netherlands)
October 11, 2012

130. AFRC- Australian Financial Reporting Council  (Australia)
October 12, 2012

131. AUASB- Australian Auditing and Assurance Standards Board  (Australia)
October 12, 2012

132. Basel Committee on Banking Supervision  (Switzerland)
October 12, 2012

133. Hong Kong Institute of Certified Public Accountants  (Hong Kong (Special Administrative Region of China))
October 12, 2012

134. Institute of Chartered Accountants of Pakistan  (Pakistan)
October 12, 2012

135. King Committee On Corporate Governance in South Africa  (South Africa)
October 12, 2012

136. NBA- Nederlandse Beroepsorganisatie van Accountants  (Netherlands)
October 12, 2012

137. New Zealand Auditing and Assurance Standards Board  (New Zealand)
October 12, 2012

138. Quoted Companies Alliance  (United Kingdom)
October 12, 2012

139. Australasian Council of Auditors-General  (Australia)
October 14, 2012

140. Asian Corporate Governance Association  (Hong Kong (Special Administrative Region of China))
October 15, 2012

141. Canadian Public Accountability Board  (Canada)
October 15, 2012

142. DnR - The Norwegian Institute of Public Accountants  (Norway)
October 15, 2012

143. European Banking Authority  (United Kingdom)
October 15, 2012

144. Institute of Chartered Accountants in Australia  (Australia)
October 15, 2012

145. Instituto Brasileiro de Governanca Corporativa  (Brazil)
October 15, 2012

146. Karim Jamal (University of Alberta) and Shyam Sunder (Yale University)  (Canada)
October 15, 2012

147. Malaysian Institute of Accountants  (Malaysia)
October 15, 2012

148. British Columbia - Ministry of Finance (Office of Comptroller)  (Canada)
October 17, 2012

149. Chinese Institute of Certified Public Accountants  (China)
October 17, 2012

150. PAIB- IFAC's Professional Accountants in Business Committee  (United States)
October 18, 2012

151. The Organisation for Economic Co-operation and Development  (France)
October 19, 2012

152. CIPFA- Chartered Institute of Public Finance & Accounancy  (United Kingdom)
October 22, 2012

153. CNCC-CSOEC- Compagnie Nationale des Commisssaires aux Comptes and the Conseil Superieur de l'Ordre des Experts-Comptables  (France)
October 22, 2012

154. Guylaine Saucier  (Canada)
October 22, 2012

155. European Audit Inspection Group (15 European Audit Regulators)  (Netherlands)
October 23, 2012

156. Independent Regulatory Board for Auditors  (South Africa)
October 23, 2012

157. UKFRC- Financial Reporting Council- UK  (United Kingdom)
October 23, 2012

158. National Association of State Boards of Accountancy  (United States)
October 26, 2012

159. OROC-Ordem dos Revisores Oficiais de Contas  (Portugal)
October 26, 2012

160. CalPERS - California Public Employees' Retirement System  (United States)
October 29, 2012

161. International Organization of Securities Commissions  (United States)
November 2, 2012

162. Korean Institute of Certified Public Accountants  (Korea, Republic of)
November 5, 2012

163. Institute of Certified Public Accountants in Ireland  (Ireland)
November 13, 2012

164. Business Europe  (Belgium)
November 14, 2012

165. IBRACON - Instituto dos Auditores Independentes do Brasil  (Brazil)
December 12, 2012

 

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