As part of the IAASB's intensive outreach campaign across the globe, there were requests from a range of stakeholders to provide additional information on materiality matters to better help them navigate the recently proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.

The IAASB has released the 2022 edition of the Handbook of International Quality Management, Auditing, Review, Other Assurance, and Related Services Pronouncements, which includes:

• IAASB’s new and revised suite of quality management standards:
  • International Standard on Quality Management (ISQM) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements
  • ISQM 2, Engagement Quality Reviews
  • International Standard on Auditing (ISA) 220 (Revised), Quality Management for an Audit of Financial Statements
  • Conforming and Consequential Amendments to Other ISAs Arising from the Quality Management Project
  • Conforming and Consequential Amendments to the IAASB’s Other Standards as a Result of the New and Revised Quality Management Standards
• International Standard on Related Services (ISRS) 4400 (Revised), Agreed-Upon Procedures Engagements

The following standards, which are not yet effective for this version of the handbook, have been included in the back of Volume 1:

• ISA 600 (Revised), Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)
• Conforming and Consequential Amendments to Other International Standards arising from ISA 600 (Revised)

Volumes 1, 2 and 3 of the handbook can be downloaded from the IAASB website, where users can also order print copies of the three-volume handbook.

The vendor for the e-International Standards (eIS) online platform is experiencing technical difficulties in finalizing the IAASB eIS handbook. In the interim, please refer to the PDF versions of the handbook. We apologize for any inconvenience caused.

Reproducing and Translating the IAASB Handbook

To help adoption and implementation of the IAASB standards, stakeholders are invited to request permission to reproduce or translate the IAASB handbook via the Online Permissions Requests or Inquiries system on the IFAC website.

About the IAASB
The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.

The latest edition of the IAASB handbook includes:

The International Auditing and Assurance Standards Board (IAASB) has released amendments aimed at bolstering transparency and providing auditors with a clear mechanism to action changes to the International Ethics Standards Board for Accountants’ (IESBA) Code of Ethics for Professional Accountants (including International Independence Standards). The IAASB amended International Standard on Auditing 700 (Revised), Forming an Opinion and Reporting on Financial Statements and ISA 260 (Revised), Communication with Those Charged with Governance.

The IESBA Code now requires firms to publicly disclose when a firm has applied the independence requirements for public interest entities in an audit of the financial statements of an entity. The IAASB’s amendments provide a clear and practical framework for implementing this new requirement through appropriate communication in the auditor’s report and with those charged with governance.

Throughout the development of these amendments, the IAASB maintained close collaboration and coordination with IESBA, striving to align key concepts in the IAASB’s and IESBA’s standards, to the greatest extent possible.

About the IAASB
The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.

Standard-setting body the International Auditing and Assurance Standards Board (IAASB) has issued a global sustainability assurance standard, in a push to "enhance the trust and confidence" investors and regulators have in sustainability information. Read the full article at Responsible-investor.com.

Standard setter IAASB is working closely with the European Commission to ensure ISSA 5000 meets the requirements for CSRD. Read the full article at Responsible-investor.com.

A global body on Wednesday proposed its first set of comprehensive rules for auditing climate-related company disclosures in an anticipated move regulators have said is crucial for giving investors information free of greenwashing. Read the full article at Reuters.com.

As companies scale up the scope and scale of their sustainability reporting, under pressure from both investors and regulators, the need for high-quality external assurance of these disclosures is increasingly urgent. Read the full article at FT.com.