Invitation to Comment, Enhancing Audit Quality in the Public Interest
The IAASB has released its Invitation to Comment, Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control and Group Audits (the ITC).
Building upon the IAASB’s efforts to develop its Work Plan for 2015–2016, the ITC highlights the board’s discussions on the topics of professional skepticism, quality control and group audits – and flags potential standard-setting activities the IAASB could take to enhance audit quality.
The IAASB also has released a companion document, an Overview of the ITC, designed at soliciting feedback from investors, audit committees, and preparers. It summarizes the key areas the IAASB is exploring and the direction it may take and may be useful in facilitating outreach by stakeholders to develop their responses.
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