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by Arnold Schilder, IAASB Chairman
May 19, 2015
IAASB Chairman Discusses Auditing Standards with CNBC Africa
During a recent outreach trip to South Africa, IAASB Chairman Prof. Arnold Schilder was a guest on CNBC Africa's "Closing Bell South Africa" program, where he discussed the new and revised auditor reporting standards and their importance to stakeholders.
The World Economic Forum has ranked South Africa’s auditing and reporting standards #1 in the world in its Global Competitiveness Index for 2014-2015.
"Auditor reporting in the future will become much more informative to outside users that so far didn't hear anything from the auditor except the final conclusion, the auditor's opinion," Prof. Schilder told CNBC Africa. "In the future, you will see five, six pages with unique information coming from the auditor about the audit and that's very relevant to users of that information."