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Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing

Exposure Draft
| Exposure Drafts and Consultation Papers
Comments due by:

This exposure draft seeks views from stakeholders in relation to the IAASB’s proposals to enhance auditor reporting globally. The proposals respond to calls from investors, analysts, and other users of audited financial statements in the wake of the global financial crisis for the auditor to provide more relevant information in the auditor’s report, and build upon the indicative direction set out in the IAASB’s June 2012 Invitation to Comment. This exposure draft includes proposed new ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report, and a number of proposed revised ISAs, including revisions to ISA 700, Forming an Opinion and Reporting on Financial Statements. Example reports illustrating various circumstances are included in the proposed ISAs. The complete exposure draft is included as the first file below; the separate components are also included for ease of accessibility.

An At a Glance publication provides an overview of the exposure draft. IAASB Staff has prepared Guidance to Assist in Field Testing of Proposed ISA 701 to highlight considerations that may be of assistance to audit firms as they plan their field testing of proposed ISA 701. Staff-prepared supplements illustrating the changes to extant ISA 700 and extant 705 have also been prepared.

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Submitted Comment Letters

  1.  (Germany)
  2.  (Canada)
  3. BlackRock, Inc. (57.65 KB)
     (United States of America)
  4.  (Canada)
  5.  (Australia)
  6.  (Canada)
  7.  (Europe & Central Asia)
  8.  (United Kingdom)
  9. Chris Barnard (20.71 KB)
  10.  (Russian Federation)
  11.  (Ghana)
  12.  (Hong Kong, Special Administrative Region of China)
  13.  (Germany)
  14.  (Czech Republic)
  15.  (United Kingdom)
  16.  (Sweden)
  17.  (Netherlands)
  18.  (United Kingdom)
  19. European Issuers (617.8 KB)
  20.  (United States of America)
  21.  (United States of America)
  22.  (United States of America)
  23.  (Bolivia)
  24.  (Switzerland)
  25. The World Bank (1.72 MB)
     (United States of America)
  26.  (United States of America)
  27.  (United States of America)
  28.  (Canada)
  29.  (United States of America)
  30.  (New Zealand)
  31.  (Australia)
  32.  (Australia)
  33.  (Japan)
  34.  (Japan)
  35.  (United Kingdom)
  36.  (United Kingdom)
  37.  (South Africa)
  38.  (United Kingdom)
  39.  (South Africa)
  40.  (United Kingdom)
  41.  (United States of America)
  42.  (Canada)
  43.  (United States of America)
  44.  (United Kingdom)
  45.  (Ireland)
  46.  (Europe & Central Asia)
  47.  (United States of America)
  48.  (Malta)
  49.  (United Kingdom)
  50. CPA Australia (58.73 KB)