Press Releases/News Alerts
IAASB Acknowledges Call to Action on Integrated Reporting; Highlights Ongoing and Planned Actions Relating to Developments in External Reporting
The Integrated Reporting Working Group of the International Auditing and Assurance Standards Board® (IAASB®) has released a publication, Exploring Assurance on Integrated Reporting and Other Emerging Developments in External Reporting, to inform stakeholders about the board’s ongoing work in this area.
The publication’s release coincides with the issuance of the International Integrated Reporting Council (IIRC)’s Overview of Feedback and Call for Action. The IAASB commends the IIRC for furthering the debate on assurance on integrated reporting, and has been actively engaged with the IIRC in events supporting its 2014 consultation.
“The IAASB is committed to ensuring that its standards address the stakeholders’ emerging needs for assurance services and has been monitoring demand for assurance on integrated reporting for some time,” said Prof. Arnold Schilder, IAASB Chairman. “The IIRC’s work to develop its International <IR> Framework and the feedback from its public consultation is invaluable to the IAASB as it continues to consider how best to respond in the public interest to integrated reporting and other emerging developments in external reporting.”
The IAASB’s Integrated Reporting Working Group was initially formed to monitor the demand for assurance engagements on integrated reporting. The focus of the Working Group includes initial thinking on the nature of such engagements, the scope of the subject matter information and the suitability of criteria, and other matters related to assurance, including the IAASB’s existing assurance standards.
“The IAASB has an open mind as to the way forward and recognizes that other emerging developments in external reporting are equally relevant to its considerations,” said Merran Kelsall, IAASB member and Integrated Reporting Working Group Chair. “The Working Group will continue to engage with stakeholders and facilitate the IAASB’s debates to inform the development of a Discussion Paper exploring assurance issues in greater depth, including how practitioners are innovating to meet the needs of investors and other preparers and users of external reporting.”
For more information and updates on the project, visit the IAASB’s project page at www.iaasb.org/auditing-assurance/projects/integrated-reporting-working-group
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. IFAC is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.8 million accountants in public practice, education, government service, industry, and commerce.