Fraud and Going Concern in an Audit of Financial Statements
Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial Statement Audit
IAASB
Sep 15, 2020 | Exposure Drafts and Consultation Papers
English
Comments due by: Jan 12, 2021
The IAASB is seeking perspectives from all of its stakeholders across the financial reporting ecosystem on whether the International Standards on Auditing (ISAs) related to fraud and going concern need to be updated to reflect the rapidly evolving external reporting landscape, and, if so, in what areas. This Discussion Paper sets out the issues and challenges related to the expectation gap (the difference between what users of the financial statements expect and the financial statement audit) and explores some possible actions that the IAASB could undertake to help narrow the expectation gap.
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Related Resources
- 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
- Discussion Paper, Audits of Less Complex Entities
- Exposure Draft, Proposed Conforming Amendments to the IAASB's International Standards
- Proposed International Standard on Auditing 600 (Revised): Special Considerations -- Audits of Group Financial Statements (Including the Work of Component Auditors)
- Public Consultation on Proposed Guidance: Extended External Reporting (EER) Assurance (March 2020)
