Elevating Trust in Audit and Assurance: IAASB’s Strategy and Work Plan for 2024-2027

The IAASB's strategy and work plan for 2024-2027 is aimed at enhancing consistency and quality of audit and assurance standards worldwide and reflects the crucial role of audit and assurance in fostering trust in the world’s economies.

Key highlights of the Strategy include:

• Completing priority audit and assurance projects, with emphasis on fraud, going concern, and sustainability assurance.
• Commencing new initiatives and projects, including focusing on supporting the adoption and implementation on our overarching standard for sustainability assurance engagements, establishing an IAASB Technology Position, and conducting post-implementation reviews, as well as standard setting on, among other topics, audit evidence and risk response, materiality, and reviews of interim financial information.
• Collaborating with official stakeholders across the external reporting ecosystem, including the International Ethics Standards Board for Accountants (IESBA), regulators, and standard setters, in addition to other stakeholders.
• Engaging with regulatory and standard-setting partners to strengthen trust in markets globally.
• Further implementing the Monitoring Group’s recommendations to enhance independence and accountability in standard setting.