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IAASB Releases 2013 Annual Report: Shaping New Solutions to Global Issues
The International Auditing and Assurance Standards Board® (IAASB®) today released its 2013 Annual Report, Shaping New Solutions to Global Issues.
The 2013 Annual Report summarizes the IAASB’s work to develop in the public interest high-quality international auditing, review, other assurance, quality control, and related services standards. The Report also spotlights the board’s extensive 2013 outreach initiatives aimed at keeping its stakeholders informed of the board’s standard-setting activities, and promoting the adoption and effective implementation of its international standards.
“The IAASB engaged in a broad range of standard-setting and related initiatives in 2013 aimed at enhancing the quality and consistency of practice internationally, and thereby strengthening the public’s confidence in the global auditing and assurance profession. Our work this year included progressing the development of new and revised standards for auditor reporting and auditing financial statement disclosures, to finalizing a new framework for audit quality and an enhanced international standard for assurance engagements,” noted IAASB Chairman Prof. Arnold Schilder. “We remain committed to our public interest mandate, especially as the environments for audit, other assurance and related services engagements evolve, and are encouraged that our efforts are seen to contribute to solutions for today’s global issues.”
The Annual Report also includes a report from the Prof. Linda de Beer, Chairman of the IAASB Consultative Advisory Group (CAG), which outlines the work of the CAG in providing input to the IAASB. The Annual Report can be downloaded at www.iaasb.org.
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).
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 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.