Enhancing the Value of Auditor Reporting: Exploring Options for Change
IAASB Consultation Paper

The consultation paper seeks to determine whether there are common views among users of audited financial statements and other stakeholders about the usefulness of auditor reporting. It describes issues with current financial reporting, including a perceived "information gap," identified by some stakeholders. It then sets out possible options for change and seeks input as to whether such options might be effective in enhancing auditor reporting and the communicative value of the auditor's report.

Submitted Comment Letters

1. Robert Mednick (United States)
July 7, 2011

2. Chris barnard (Germany)
July 18, 2011

3. FEI Canada (Canada)
September 1, 2011

4. National Audit Office (Malta)
September 7, 2011

5. SAICA (South Africa)
September 12, 2011

6. Auditor General of Québec (Canada)
September 13, 2011

7. CGA-Canada (Canada)
September 13, 2011

8. Malaysian Institute of Accountants (Malaysia)
September 13, 2011

9. Australasian Council of Auditors-General (ACAG) (Australia)
September 14, 2011

10. New York State Society of Certified Public Accountants (United States)
September 14, 2011

11. Auditing and Assurance Standards Board (Australia)
September 15, 2011

12. CPA Australia (Australia)
September 15, 2011

13. Chamber of Hungarian Auditors (Hungary)
September 15, 2011

14. FSR - danske revisorer (Denmark)
September 15, 2011

15. Finanstilsynet, The Financial Supervisory (Norway)
September 15, 2011

16. International Association of Insurance Supervisors (Switzerland)
September 15, 2011

17. The Japanese Institute of Certified Public Accountants (Japan)
September 15, 2011

18. ACCA (United Kingdom)
September 16, 2011

19. AICPA (United States)
September 16, 2011

20. ASSIREVI (Italy)
September 16, 2011

21. Auditing and Assurance Standards Board (Canada) (Canada)
September 16, 2011

22. Australian Institute of Company Directors (Australia)
September 16, 2011

23. BlackRock, Inc. (United States)
September 16, 2011

24. Canadian Natural Resources Limited (Canada)
September 16, 2011

25. Center for Audit Quality (United States)
September 16, 2011

26. Cristian E. Munarriz (Argentina)
September 16, 2011

27. ENMAX Corporation (Canada)
September 16, 2011

28. Eumedion (Netherlands)
September 16, 2011

29. European Banking Authority (United Kingdom)
September 16, 2011

30. Far - the Institute for the Accountancy Profession in Sweden (Sweden)
September 16, 2011

31. Federal Audit Oversight Authority (Switzerland)
September 16, 2011

32. H3C-Haut Conseil du Commissariat aux comptes (France)
September 16, 2011

33. Hermes Fund Managers (United Kingdom)
September 16, 2011

34. ICAC (Spain)
September 16, 2011

35. ICAP (Pakistan)
September 16, 2011

36. IFAC - SMP Committee (United States)
September 16, 2011

37. Institute of Certified Public Accountant of Rwanda (ICPAR) (Rwanda)
September 16, 2011

38. Institute of Internal Auditors (United States)
September 16, 2011

39. International Corporate Governance Network (United Kingdom)
September 16, 2011

40. New Zealand Auditing and Assurance Standards Board (NZAuASB) (New Zealand)
September 16, 2011

41. Pitcher Partners (Australia)
September 16, 2011

42. RAMACHANDRAN MAHADEVAN-COMMENTS (India)
September 16, 2011

43. RSM International (United Kingdom)
September 16, 2011

44. The Hong Kong Institute of Directors (Hong Kong (Special Administrative Region of China))
September 16, 2011

45. ZICA-Zambia Institute of Chartered Accountants (Zambia)
September 16, 2011

46. Auditor-General of South Africa (South Africa)
September 19, 2011

47. BDO (Belgium)
September 19, 2011

48. Basel Committee on Banking Supervision (Switzerland)
September 19, 2011

49. EFFA (Belgium)
September 19, 2011

50. Hong Kong Stock Exchange (China)
September 19, 2011

51. KPMG (UK)
September 19, 2011

52. Legislative Audit Division Montana (US)
September 19, 2011

53. PWC (United Kingdom)
September 19, 2011

54. The Hundred Group of Finance Directors (United Kingdom)
September 19, 2011

55. US Government Accountability Office (US)
September 19, 2011

56. APB Auditing Practices Board (UK)
September 20, 2011

57. Institut der Wirtschaftsprüfer in Deutschland e.V. (Germany)
September 20, 2011

58. Mazars (France)
September 20, 2011

59. HKICPA Hong Kong Institute of Certified Public Accountants (China)
September 21, 2011

60. Institute of Chartered Accountants Austrailia (Australia)
September 21, 2011

61. Korean Institute of Certified Public Accountants (South Korea)
September 21, 2011

62. Deloitte Touche Tohmatsu Limited (United States)
September 26, 2011

63. Institute of Certified Accountants of Montenegro (ICAM) (Montenegro (Republic of))
September 26, 2011

64. Consiglio Nazionale dei Dottori Commercialisti + Consiglio Nazionale dei Ragionieri e Periti Commerciali (Italy)
September 29, 2011

65. The Institute of Chartered Accountants in England and Wales (ICAEW) (United Kingdom)
October 1, 2011

66. Canadian Public Accountability Board (Canada)
October 3, 2011

67. Compagnie Nationale des Commissaires aux Comptes + Conseil Superieur de l'Ordre des Experts-Comptables (France)
October 3, 2011

68. Felicitas Irungu (Kenya)
October 3, 2011

69. Fédération des Experts Comptables Européens (Belgium)
October 3, 2011

70. Grant Thornton International Ltd (United States)
October 3, 2011

71. The Institute of Public Accountants (Australia)
October 4, 2011

72. The Chartered Institute of Public Finance and Accountancy (CIPFA) (United Kingdom)
October 5, 2011

73. Dubai Financial Services Authority (United Arab Emirates)
October 6, 2011

74. Nederlandse Beroepsorganisatie van Accountants (Netherlands)
October 7, 2011

75. Baker Tilly UK Audit LLP (United Kingdom)
October 12, 2011

76. CFA Institute (United States)
October 18, 2011

77. The Institute of Chartered Accountants Scotland (United Kingdom)
October 21, 2011

78. European Securities and Markets Authority (France)
October 24, 2011

79. Ernst & Young (United Kingdom)
October 28, 2011

80. California Public Employees' Retirement System Investment Office (United States)
November 1, 2011

81. Auditor General New Zealand (New Zealand )
November 2, 2011

82. International Organization of Securities Commissions (Spain )
November 2, 2011

Related Resources

• A Framework for Audit Quality
• 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
• The Evolving Nature of Financial Reporting: Disclosure and Its Audit Implications