Proposed Strategy and Work Plan for 2024‒2027
Consultation Paper
IAASB
Jan 11, 2023 | Exposure Drafts and Consultation Papers
English
Comments due by: Apr 11, 2023
This proposed strategy seeks to accelerate the actions originally laid out in the 2020-2023 strategy with a focus on standard setting that supports the performance of high-quality audit and assurance engagements.
It outlines four strategic objectives:
- Support the consistent performance of quality audit engagements by enhancing our auditing standards in areas where there is the greatest public interest need;
- Establish globally accepted standard(s) for assurance on sustainability reporting;
- Strengthen coordination with the International Ethics Standards Board for Accountants and other leading standard setters and regulators to leverage better collective actions in the public interest; and
- Create more agile, innovative ways of working in line with the Monitoring Group’s reform vision.
The IAASB’s 2024-2027 work plan describes the technical standard-setting work required to support the strategy. The work plan focuses on where further standards’ development can best contribute to meeting the needs of stakeholders in the external reporting ecosystem, while balancing timeliness with quality.
The IAASB invites all stakeholders to comment on the proposed strategy and work plan via the IAASB website by April 11, 2023. Stakeholders can respond to all questions in the Consultation Paper or focus on those questions that are most relevant to them and where they have specific comments.
Copyright © 2023 The International Federation of Accountants (IFAC). All rights reserved.
Related Resources
- 2018 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements
- Exposure Draft, Proposed International Standard on Auditing of Financial Statements of Less Complex Entities
- Proposed International Standard on Auditing 500 (Revised), Audit Evidence, and Proposed Conforming and Consequential Amendments to Other ISAs
- Proposed Narrow Scope Amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements and ISA 260 (Revised), Communication with Those Charged With Governance
- Proposed Part 10, Audits of Group Financial Statements of the Proposed ISA for Audits of Financial Statements of Less Complex Entities