Proposed Revisions for Audit Evidence & Risk Response: ISA 330, ISA 500 & ISA 520
These proposed revisions to ISA 330, The Auditor's Responses to Assessed Risks; ISA 500, Audit Evidence; and ISA 520, Analytical Procedures, further embed, clarify and strengthen a principles-based, risk-based audit framework. The revisions also address the increased use of technology in business, financial reporting, and auditing.
The proposed revisions establish a comprehensive basis for auditors’ judgments about audit evidence. They include:
- a revised definition of audit evidence to reflect today’s digital environment;
- greater emphasis on the intended purposes of audit procedures;
- strengthened requirements for evaluating the relevance and reliability of information used as audit evidence;
- clarification of key concepts; and
- reinforced application of professional skepticism throughout the audit.
The IAASB encourages auditors, regulators, investors and other users of financial statements, preparers, those charged with governance, academics, and other stakeholders to provide feedback on the proposals. Responses are requested by December 15, 2026.
Additional Ways to Engage
The IAASB is offering additional ways to engage with the proposals during the consultation period:
User Consultation Survey
Users of financial statements—including investors, analysts, lenders and other creditors—can share their perspectives on selected aspects of the proposals through a targeted User Consultation Survey, open until December 15, 2026. Survey questions are available in MS Word below.
Take the User Consultation Survey Here
Global Webinar Series
The IAASB is hosting a two-part webinar series, open to all interested stakeholders, to explore the proposals and provide opportunities to engage directly with IAASB experts.
Part 1: Overview of the AE&RR Proposals and Reference Framework – Proposed ISA 500 (Revised)
September 29 | 10:00 a.m.–12:00 p.m. UTC | REGISTER HERE
September 30 | 7:00–9:00 p.m. UTC | REGISTER HERE
Part 2: Performance Aspects of the AE&RR Proposals – Proposed ISA 330 (Revised) and Proposed ISA 520 (Revised)
October 5 | 10:00 a.m.–12:00 p.m. UTC | REGISTER HERE
October 7 | 7:00–9:00 p.m. UTC | REGISTER HERE
Each webinar will be offered twice to accommodate different time zones.
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