IAASB Technical Director Matthew Waldron hosts the March 2017 audio podcast featuring Chairman Arnold Schilder and IAASB Members Rich Sharko and Megan Zietsman to discuss key activities and events from the board's March 13-17, 2017 meeting in Lima, Peru.

• 0:00 to 1:03          Introduction
• 1:04 to 2:02          Chairman’s overview
• 2:14 to 5:43          ISA 315
• 5:43 to 6:56          Enhancing Audit Quality - Group Audits and Quality Control
• 6:57 to 8:17          Professional Skepticism
• 8:20 to 12:17        ISA 540
• 12:18 to 16:27      SSB Coordination and SMP
• 16:28 to 17:58      Closing Remarks and next meeting

James R. Dalkin has been appointed as the incoming Chair of the Consultative Advisory Group (CAG) to the International Auditing and Assurance Standards Board (IAASB), effective April 1, 2017.

His appointment, approved by the Public Interest Oversight Board (PIOB),* follows his election by representatives of the IAASB CAG.**

The CAG is an independent body comprising regulators, preparers, international investor and user groups, and other stakeholders with an interest in international auditing and assurance. It provides strategic and technical advice in the public interest to the IAASB. Mr. Dalkin will play a key role ensuring the CAG’s views are included in the IAASB’s deliberations.

“I am honored to be elected by my CAG peers as the group’s new chair at a time of great change and opportunity for the profession,” Mr. Dalkin said. “The 32 organizations represented on the CAG have a critical interest in seeing the development of the best possible audit and assurance standards. I look forward to working with CAG representatives to ensure the IAASB clearly hears the advice from end-users of the IAASB’s standards and guidance.”

Mr. Dalkin is a Director in the Financial Management and Assurance Team with the United States Government Accountability Office (GAO) and is also an observer to the Committee of Sponsoring Organizations of the Treadway Commission Advisory Board (COSO). He has been an IAASB CAG representative since 2013, and has previously served as a board member of the American Institute of CPAs’ Auditing Standards Board.

At the GAO, Mr. Dalkin directs work to develop and maintain government auditing standards (the Yellow Book); internal control standards for the US federal government (the Green Book); and the GAO’s work with the accounting and auditing profession. He is also responsible for the audits of the US Securities Exchange Commission and the Federal Deposit Insurance Corporation and is an adjunct professor at Georgetown University.

“James’ extensive public sector auditing experience, and demonstrated leadership driving transparency, accountability, and serving the public interest make him ideally suited to articulate the views of end-users in the IAASB’s work,” said Prof. Arnold Schilder, IAASB Chairman. “As we continue to focus on enhancing audit quality, the CAG’s advice—under James’ leadership—remains critically important to the standard setting process. I thank him, and his CAG colleagues, for their work, which clearly supports the IAASB’s public interest mission.”

About the IAASB CAG
The CAG comprises a diverse mix of 32 Member Organizations** including, user groups, regulators, financial executives, international public interest organizations and other professional bodies such as lawyers, valuation experts and actuaries with interests in, or related to audit and assurance. The CAG is an integral and important part of the IAASB's formal process of consultation, and Representatives of CAG member organizations provide the IAASB advice on numerous areas, including the IAASB’s agenda and project timetable (work program); its technical projects; and other matters of relevance to the IAASB’s activities. The Public Interest Oversight Board (PIOB) oversees the work of the CAG, and the roles and responsibilities of the CAG Chair are approved by the PIOB.

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). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

*The PIOB
Established in 2005 as the oversight board for the global accountancy profession, the PIOB oversees the International Auditing and Assurance Standards Board, International Ethics Standards Board for Accountants, the International Accounting Education Standards Board, and their CAGs, as well as IFAC’s Compliance Advisory Panel, with the objective of increasing the confidence of investors and others that their activities are properly responsive to the public interest. PIOB members are nominated by international institutions and regulatory bodies.

**IAASB CAG Members Organizations and Observers

• Accountancy Europe
• Associação Brasileira de Instituições Financeiras de Desenvolvimento
• Basel Committee on Banking Supervision
• BUSINESSEUROPE
• CFA Institute
• European Commission
• European Federation of Accountants and Auditors for SMEs
• Financial Executives Institutes International
• Gulf States Regulatory Authorities
• Information Systems Audit and Control Association
• Institute of Internal Auditors
• International Accounting Standards Board
• International Actuarial Association
• International Association of Financial Executives Institutes - Asian Region
• International Association of Financial Executives Institutes - Europe, Middle East, and African Region
• International Association of Insurance Supervisors
• International Bar Association
• International Corporate Governance Network
• International Organization of Securities Commissions
• International Organization of Supreme Audit Institutions
• International Valuation Standards Council
• Islamic Financial Services Board
• Japan Securities Dealers Association
• National Association of State Boards of Accountancy
• Organisation for Economic Cooperation and Development
• Sri Lanka Accounting and Auditing Standards Monitoring Board
• United Nations Conference on Trade & Development
• World Bank
• World Federation of Exchanges

Observers

• Financial Services Agency, Japan
• International Monetary Fund
• US Public Company Accounting Oversight Board

James R. Dalkin, CPA, CGFM, became Chair of the International Auditing and Assurance Board (IAASB) Consultative Advisory Group in March 2017.

Mr. Dalkin is a Director in the Financial Management and Assurance Team with the US Government Accountability Office (GAO). He has responsibility for directing GAO’s work to develop and maintain government auditing standards (the Yellow Book); internal control standards for the federal government (the Green Book); and GAO’s work with the accounting and auditing profession. He is also responsible for the audits of the US Securities Exchange Commission and the Federal Deposit Insurance Corporation.

In addition to his service with the IAASB, Mr. Dalkin previously served as a board member of the American Institute of CPA (AICPA)’s Auditing Standards Board and is an observer to the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Advisory Board.

Mr. Dalkin is a frequent speaker at national auditing conferences for the AICPA and other professional organizations. He has also authored articles for publications, including the Journal of Accountancy. Mr. Dalkin also is an Adjunct Professor at Georgetown University (US).

The IAASB is pleased to announce the appointment of Matthew Waldron as Technical Director.

In this role, Mr. Waldron works closely with the IAASB Chair to engage senior members of the global accountancy profession, the regulatory community, and other key stakeholders in support of, and to enhance, global public trust; and to manage the international audit and assurance standard-setting program.

Mr. Waldron leads and develops a dynamic team of highly-talented individuals that help influence the direction, shape, and content of leading-edge standard-setting projects. His team operates in a diverse and collegial environment, building strong relations with colleagues and peers who are passionate about international standard setting.

Previously, Mr. Waldron was a Director in the Financial Reporting Policy Group at CFA Institute, where he represented membership interests regarding audit and financial reporting proposals issued by the US Financial Accounting Standards Board, the International Accounting Standards Board, and other regulators and standard setters. Earlier in his career, he also worked for KPMG and PwC. Since 2014, Mr. Waldron has chaired the IAASB’s Consultative Advisory Group, in addition to serving as a member representative since 2007. Under Mr. Waldron’s leadership, the IAASB is now seeking to fill multiple vacancies.

Are you seeking an exceptional professional opportunity that combines your understanding of the public interest role of auditing and assurance standards with your desire to make a difference on a global stage?

The IAASB is seeking two talented individuals to fill a Principal and a Manager position based in New York. These impactful positions require knowledge of audit and assurance, an understanding of standard setting, and strong team work and leadership skills.

For the Principal position, we are looking for an individual with advanced expertise in auditing or assurance, or prior standard-setting experience. As a senior member of the IAASB, this position will be responsible for more technically challenging projects and initiatives as well as providing guidance to managers and support staff.

The Manager, Standards Development and Technical Projects position requires intermediate expertise in auditing or assurance. He or she will support senior IAASB staff on challenging projects while also taking primary responsibility for other important projects and activities.

The IAASB is responsible for global audit and assurance standard setting. Robust audit and assurance standards are fundamental to the way modern societies work, enhancing credibility and trust in a society’s external reporting. The IAASB achieves this through its commitment to advancing audit quality worldwide, developing standards that protect the interests of those who rely on audits, assurance, and other services, and are practicable for those who implement the standards.

The IAASB is supported by a talented team of professionals from different backgrounds, all of whom embrace the opportunities and challenges of collaborating on a global stage. This team assists the IAASB in serving the public interest by setting high-quality international standards, and by facilitating their adoption and implementation. We offer our team a competitive compensation and a superior benefits package, including medical, dental, retirement plans, and annual leave.

We invite you to apply for our open positions by March 31 and join our expert and dedicated team.

The IAASB is one of four independent international standard-setting boards whose operating structures are supported by the International Federation of Accountants. Most standard-setting staff positions for the IAASB and the International Ethics Standards Board for Accountants are based in New York, US. Standard-setting staff positions that support the International Public Sector Accounting Standards Board and International Accounting Education Standards Board are based in Toronto, Canada.

The International Auditing and Assurance Standards Board (IAASB) today released its Work Plan for 2017–2018 following a public consultation with stakeholders. The continuing relevance of the board’s strategic objectives was also confirmed with the IAASB release of a Supplement to its Strategy for 2015–2019: Fulfilling Our Public Interest Mandate in an Evolving World.

The Work Plan is guided by the three underlying strategic objectives set in the five-year Strategy:

• a continued focus on International Standards on Auditing (ISAs) as the basis for high-quality audits;
• the importance of the IAASB’s standards for other services to address emerging needs of stakeholders; and
• the board’s intention to strengthen collaboration with others to address public interest matters relevant to its work.

“The IAASB’s strategic objectives contribute to enhancing audit quality. The intent is for the audit standards and guidance being developed to further enhance that quality and to uphold the trust placed in audits and auditors,” noted Prof. Arnold Schilder, IAASB Chairman. “Respondents to the consultation stressed the importance of addressing key topics that contribute to high-quality audits in a changing business environment, influenced by technology, complexity, and demands for continued relevance of the audit.”

Work Plan Priorities

The Work Plan prioritizes addressing the most pertinent public interest issues. The IAASB is also considering how quality can be further embedded in the way that firms approach audits and other engagements under the IAASB’s International Standards. The IAASB recognizes the importance of addressing the concerns of small- and medium-sized practices (SMPs), including considering how auditing standards can be effectively applied to audits of small- and medium-sized entities, and standards to support other services provided by SMPs.

The IAASB will publish a timetable of current projects on its website, to be updated on a quarterly basis, to maintain transparency on progression.

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). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

The IAASB Work Plan is guided by the three underlying strategic objectives set in the five-year Strategy: