IAASB Seeks Input on Strategic Review

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    Mar 08, 2013
    New York, New York

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    IAASB Seeks Input on Strategic Review

    The International Auditing and Assurance Standards Board (IAASB) today released an online survey seeking public comment, insights, and views from all stakeholders to help shape its future direction for 2015 and beyond. It is seeking the input of interested parties at this early stage to identify key issues for discussion.

    “The IAASB understands the importance of addressing matters of global and long-term relevance across the broad range of services covered by its international standards. We also recognize that we need to strike a balance between developing new and revised standards to further enhance practice, and taking steps to support continued global implementation of existing standards, including by small- and medium-sized practices,” said Prof. Arnold Schilder, IAASB Chairman. “Accordingly, this survey asks for views on emerging developments and trends that are likely to be important in the public interest, as well as specific areas of focus for development of standards and related guidance. It also asks for input on the appropriate balance between setting new and revised standards and facilitating their adoption and effective implementation.”

    The survey also asks for feedback on the appropriateness of the IAASB changing its future strategy period to five years (2015–2019) instead of three years as it has done in the past. The IAASB believes that extending its strategy period will enable stakeholders to better understand its medium- to longer-term priorities, and provide a suitable context for decisions on specific initiatives. 

    Responses to the survey will inform the development of a formal consultation paper on the IAASB’s Strategy and Work Program for the period commencing 2015. The consultation paper is scheduled to be issued in late 2013.

    How to Comment
    The IAASB invites all stakeholders to complete the online survey. To access the survey, visit the IAASB’s website at www.iaasb.org. Comments are requested by May 7, 2013. Individual responses to the questionnaire will not be on public record. They will be summarized for discussion purposes.

    About the IAASB
    The IAASB develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC).

    About IFAC
    IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 173 members and associates in 129 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

     

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