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
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Comments due by: Feb 01, 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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Submitted Comment Letters

1. AQ
September 16, 2020

2. Michael Bradbury (New Zealand)
November 9, 2020

3. International Air Transport Association
November 17, 2020

4. AUASB
December 23, 2020

5. Office of the Auditor-General of New Zealand
December 23, 2020

6. Grant Thornton International Limited
January 11, 2021

7. Union of Chambers of Certified Public Accountants of Turkey (TURMOB) (Turkey)
January 12, 2021

8. Confederation of Indian Industry (CII) (India)
January 13, 2021

9. Álvaro Fonseca Vivas
January 15, 2021

10. International Organization of Securities Commisions (IOSCO)
January 17, 2021

11. National Association of State Boards of Accountancy (United States)
January 19, 2021

12. CFO Forum of South Africa (South Africa)
January 21, 2021

13. Canadian Public Accountability Board (Canada)
January 22, 2021

14. Tapestry Networks
January 27, 2021

15. Crowe Global
January 28, 2021

16. Inter-American Accounting Association
January 28, 2021

17. Instituto Mexicano de Contadores Publicos, A.C. (Mexico)
January 28, 2021

18. Auditor-General of South Africa (South Africa)
January 28, 2021

19. New York State Society of CPAs (NYSSCPA) (United States)
January 28, 2021

20. Australasian Council of Auditors-General (Australia)
January 28, 2021

21. PwC
January 29, 2021

22. WPK (Germany)
January 29, 2021

23. AICPA (United States)
January 29, 2021

24. IAIS (Switzerland)
January 29, 2021

25. Committee of European Auditing Oversight Bodies
January 29, 2021

26. SRA
January 29, 2021

27. Belgian Institute of the Registered Auditors IBR-IRE (Belgium)
January 29, 2021

28. MHA Macintyre Hudson (United Kingdom)
January 29, 2021

29. UK Financial Reporting Council (United Kingdom)
January 29, 2021

30. Kriton (Netherlands)
January 29, 2021

31. Moore Global Network Ltd
January 29, 2021

32. CohnReznick LLP (United States)
January 30, 2021

33. PIRC Ltd (United Kingdom)
January 31, 2021

34. New Zealand Auditing and Assurance Standards Board (New Zealand)
January 31, 2021

35. Hong Kong Institute of Certified Public Accountants (Hong Kong (Special Administrative Region of China))
January 31, 2021

36. KICPA (Korea, Republic of)
January 31, 2021

37. Constantine Cotsilinis
January 31, 2021

38. AASB Canada (Canada)
February 1, 2021

39. Institute of Certified Public Accountants of Uganda
February 1, 2021

40. U.S. Government Accountability Office (United States)
February 1, 2021

41. The Malaysian Institute of Certified Public Accountants (MICPA) (Malaysia)
February 1, 2021

42. Institute of Chartered Accountants in England and Wales (ICAEW)
February 1, 2021

43. Nexia International
February 1, 2021

44. Office of the Auditor General of Canada (Canada)
February 1, 2021

45. REA Auditores - Consejo General de Economistas (Spain)
February 1, 2021

46. HLB
February 1, 2021

47. BDO (United Kingdom)
February 1, 2021

48. The Unlimited (South Africa)
February 1, 2021

49. Ernst & Young Global Limited
February 1, 2021

50. Malaysian Institute of Accountants (Malaysia)
February 1, 2021

51. KPMG International
February 1, 2021

52. MNP LLP (Canada)
February 1, 2021

53. CPA Australia
February 1, 2021

54. Mazars
February 1, 2021

55. Canadian Securities Administrators (Canada)
February 1, 2021

56. Mazars USA LLP
February 1, 2021

57. FAR (Sweden)
February 1, 2021

58. South African Institute of Chartered Accountants (SAICA)
February 1, 2021

59. Center for Audit Quality (United States)
February 1, 2021

60. Pan African Federation of Accountants
February 1, 2021

61. Institute of Directors in South Africa's Audit Committee Forum (South Africa)
February 1, 2021

62. PKF International Limited
February 1, 2021

63. Dmitrii Timofeev (Russian Federation)
February 1, 2021

64. Accountancy Europe
February 1, 2021

65. Auditing Standards Committee of the Auditing Section of the American Accounting Association
February 1, 2021

66. RSM International Limited
February 1, 2021

67. Botswana Accountancy Oversighty Authority (Botswana)
February 1, 2021

68. Institut der Wirtschaftspruefer in Deutschland e.V. (IDW) (Germany)
February 1, 2021

69. The Japanese Institute of Certified Public Accountants (Japan)
February 1, 2021

70. IFIAR
February 1, 2021

71. ICAS
February 2, 2021

72. Deloitte Touche Tohmatsu Limited (DTTL)
February 2, 2021

73. Royal NBA, the Netherlands Institute of Chartered Accountants (Netherlands)
February 2, 2021

74. IRBA
February 3, 2021

75. FEDERACIÓN ARGENTINA DE CONSEJOS PROFESIONALES DE CIENCIAS ECONÓMICAS (Argentina)
February 3, 2021

76. Cristian Munarriz (Argentina)
February 3, 2021

77. Chartered Accountants Australia and New Zealand (CA ANZ) and the Association of Chartered Certified Accountants (ACCA)
February 4, 2021

78. Basel Committee on Banking Supervision (Switzerland)
February 5, 2021

79. Compagnie Nationale des Commissaires aux Comptes and the Conseil Superieur de I’Ordre des Experts-Comptables (France)
February 5, 2021

80. Irish Auditing & Accounting Supervisory Authority (Ireland)
February 5, 2021

81. Corporate Reporting Users' Forum(CRUF)
February 8, 2021

82. International Federation of Accountants (IFAC)
February 8, 2021

83. Institute of Singapore Chartered Accountants (ISCA) (Singapore)
February 9, 2021

84. Botswana Institute of Chartered Accountants (BICA)
February 25, 2021

85. Belgian National Chapter of Transparency International
April 12, 2021

86. Belgian National Chapter of Transparency International
April 12, 2021

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