Listen to IAASB Task Force Chair Fiona Campbell as she explains how International Standard on Auditing 315 (Revised) will improve audit quality through better guidance on identifying and assessing material misstatement risks. This 90 minute webinar contains useful information to help our stakeholders understand the proposed changes to the standard. The IAASB is planning a follow-up webinar in early October 2018 to provide stakeholders with an opportunity to ask questions about the Exposure Draft. Invitations will be sent in September for registration webinar and to submit questions. In the meantime, you have until November 2nd toprovide your comment to the Exposure Draft.
To ensure that International Standards on Auditing continue to form the basis for high-quality, valuable and relevant global audits, the IAASB Exposure Draft, ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement, proposes more robust requirements and improved guidance to:
To ensure that International Standards on Auditing continue to form the basis for high-quality, valuable and relevant global audits, the IAASB proposes more robust requirements and improved guidance to:
Drive consistent and effective identification and assessment of risks of material misstatement;
Modernize ISA 315 to meet evolving business needs, including information technology, and how auditors use automated tools and techniques, including data analytics, to perform audit procedures;
Improve the standard’s applicability to entities across a wide spectrum of circumstances and complexities; and
Focus auditors on exercising professional skepticism throughout the risk identification and assessment process.
Through its ISA Implementation Monitoring Project and targeted continuing stakeholder outreach, the IAASB has received significant stakeholder input as the proposed revisions have been developed. The Exposure Draft is a key element of the IAASB’s work to address the fundamental elements of an audit and thereby enhance audit quality.
Proposed Changes to ISA 315 (Revised) to Advance Audit Quality
The International Auditing and Assurance Standards Board (IAASB) invites all interested stakeholders to its global series of discussions to help shape the future of assurance over emerging forms of external reporting (EER).
Save the Dates!
Please see below for event locations most convenient for you:
Region
City
Date
Venue
North America
New York
October 15, 2018 14:00 – 17:00
International Federation of Accountants, 529 Fifth Avenue, New York, NY 10017
South America
São Paulo
October 18, 2018 10:00 – 13:30
FIPECAFI auditorium, R. Maestro Cardim, 1170 - Bela Vista
Africa
Johannesburg
October 23, 2018 09:00 – 13:00
IRBA, Greenstone Hill Office Park, Emerald Boulevard, Modderfontein
Asia
Singapore
October 26, 2018 09:00 – 12:00
NUS Business School, Mochtar Riady Building, 15 Kent Ridge Drive, Singapore
Oceania
Auckland
October 30, 2018 10:00 – 13:00
XRB, 55 Shortland St, Auckland
Oceania
Sydney
November 2, 2018 09:00 – 12:00
Chartered Accountants Australia & New Zealand, Level 9, 33 Erskine Street, Sydney, NSW 2000
The IAASB is developing non-authoritative guidance to address key challenges arising in the performance of assurance engagements over EER performed using its assurance standard, ISAE 3000 (Revised).
To help shape the future of IAASB’s assurance over EER, the half-day discussions will cover:
progress in the development of the first phase of the draft guidance;
implications of the guidance for assurance engagements; and
assurance issues faced in your region.
Who should attend
The events are open to all. The IAASB wants to engage with those who prepare EER reports, assurance practitioners, regulators, standard-setters, investors and other users of EER reports. Accountants and non-accountants alike are encouraged to attend and participate to help shape the IAASB’s work in this area.
How to register
To express initial interest, please email IAASBmeetings@iaasb.org with your name, organization, country and the event you would like to attend. We will then notify you when registration opens. For updates, please visit our website and follow us at @IAASB_News and #EERassurance.
What is EER?
EER encapsulates many different forms of reporting, including, but not limited to, integrated reporting, sustainability reporting and non-financial reporting about environmental, social and governance matters. Such reports may be prepared under legislative or regulatory requirements and established frameworks, standards and guidance issued by international or national standard setters.
