Auditing Complex Financial Instruments

This consultation paper seeks views on a number of matters that require consideration in relation to the IAASB's plans to develop guidance relating to auditing complex financial instruments by revising its extant International Auditing Practice Statement (IAPS) 1012, [i]Auditing Derivative Financial Instruments[/i]. It incorporates recent work of the UK's Auditing Practice Board on the same topic, and asks specific questions about how that guidance might be adapted or supplemented for application in the international context.

Submitted Comment Letters

1. The Institute of Chartered Accountants in England and Wales - ICAEW (United Kingdom)
December 22, 2009

2. Institute of International Finance (United States)
December 30, 2009

3. Australian Government, Auditing and Assurance Standards Board (Australia)
January 5, 2010

4. Dr. Joseph S. Maresca (United States)
January 5, 2010

5. The South African Institute of Chartered Accountants (South Africa)
January 5, 2010

6. World Federation of Exchanges (France)
January 5, 2010

7. Australian Prudential Regulation Authority (Australia)
January 7, 2010

8. New Zealand Institute of Chartered Accountants (New Zealand)
January 12, 2010

9. Federation des Experts Comptables Europeens (Belgium)
January 13, 2010

10. Basel Committee on Banking Supervision (Switzerland)
January 14, 2010

11. Association of International Accountants (United Kingdom)
January 15, 2010

12. Canadian Public Accountability Board (Canada)
January 15, 2010

13. Chinese Institute of Certified Public Accountants (China)
January 15, 2010

14. Hermes Management Pensions Ltd (United Kingdom)
January 15, 2010

15. Institut der Wirtschaftspruefer in Deutschland e.V. - IDW (Germany)
January 15, 2010

16. Institute of Certified Public Accountants of Singapore (Singapore)
January 15, 2010

17. RSM International (United Kingdom)
January 15, 2010

18. The Association of Chartered Certified Accountants (United Kingdom)
January 15, 2010

19. The Canadian Institute of Chartered Accountants (Canada)
January 15, 2010

20. The Chartered Institute of Public Finance and Accountancy - CIPFA (United Kingdom)
January 15, 2010

21. The Japanese Institute of Certified Public Accountants (Japan)
January 15, 2010

22. Grant Thornton International (United States)
January 20, 2010

23. International Association of Insurance Supervisors (Switzerland)
January 20, 2010

24. Mazars and Guérard (France)
January 20, 2010

25. Federación Argentina de Consejos Profesionales de Ciencias Económicas (Argentina)
January 21, 2010

26. International Actuarial Association (Canada)
January 21, 2010

27. PricewaterhouseCoopers (United Kingdom)
January 28, 2010

28. Hong Kong Institute of Certified Public Accountants (Hong Kong)
January 29, 2010

29. Deloitte Touche Tohmatsu (United States)
February 2, 2010

30. Ernst & Young Global Limited (United Kingdom)
February 9, 2010

31. KPMG (United Kingdom)
February 11, 2010

32. International Organization of Securities Commissions (Spain)
February 16, 2010

33. Joint Accounting Bodies: CPA Australia, the Institute of Chartered Accountants in Australia and the National Institute of Accountant (Australia)
February 16, 2010

Related Resources

• A Framework for Audit Quality
• Enhancing the Value of Auditor Reporting: Exploring Options for Change
• ISAE 3000 (Revised), Assurance Engagements Other Than Audits or Reviews of Historical Financial Information
• Improving the Auditor’s Report
• International Standard on Auditing (ISA) 720 (Revised), The Auditor’s Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor’s Report Thereon