The IAASB in collaboration with IFAC held the final webinar in our quality management webinar series on August 18 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar addressed how firms can bring all the components of a quality management system together to align with the requirements in the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The IAASB in collaboration with IFAC held the third webinar in our quality management webinar series on August 5 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar addressed how your firm can establish or modify your monitoring and remediation processes to align with the requirements in the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The IAASB in collaboration with IFAC held the second webinar in our quality management webinar series on July 29 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar addressed how to resource to align with the requirements in the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The IAASB in collaboration with IFAC held the first webinar in our quality management webinar series on June 24 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar addressed your firm’s risk assessment process and how to align with the requirements in the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
The IAASB in collaboration with IFAC invite you to join our quality management webinar series on June 24, July 29, and August 5 and 18 on Zoom with livestreaming on the IAASB’s YouTube channel. The webinars will take a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.
ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality controlto an integrated quality managementapproach.
The webinars will be held in English and will be available on the IAASB’s YouTube Channel following the session. Participants joining live via Zoom will be able to submit questions.
Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
Discussion will include the linkage between ISQM 1 and International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements
This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management
A Deep Dive into International Standard on Quality Management 1
The IAASB is consulting on its Work Plan for 2022–2023 through an online survey. Guided by its strategic objectives for 2020-2023, the IAASB’s current—and future—work is tailored to serve the public interest. The survey is designed to help the IAASB develop its Work Plan for 2022–2023 through understanding what is important to its stakeholders.
The International Auditing and Assurance Standards Board (IAASB) today issued a survey on its Work Plan for 2022–2023. Guided by its strategic objectives for 2020-2023, the IAASB’s current—and future—work is tailored to serve the public interest. The survey is designed to help the IAASB develop its Work Plan for 2022–2023 through understanding what is important to its stakeholders.
The survey asks respondents for their views on the IAASB’s ongoing projects and possible future topic priorities. It will be open until Thursday, August 5, 2021. Respondents must submit their views using our survey online tool.
To help stakeholders thoughtfully consider and respond, and conduct any appropriate outreach to consolidate feedback, a Word version of the survey is available on the IAASB website to share questions and prepare responses. The IAASB and this work plan survey will benefit from the new Framework for Activities, developed to provide clearer criteria and increased transparency for project selection and prioritization.
After consultations with the Public Interest Oversight Board, the International Auditing and Assurance Standards Board (IAASB) has published a revised detailed work plan that supersedes the work plan published on February 1, 2021.
The IAASB revised the work plan to account for the continued impact of the COVID-19 pandemic on both board operations and stakeholders’ capacity to implement new standards and participate in the IAASB’s due process. Facing the reality of reduced plenary time resulting from remote plenary meetings throughout the remainder of the calendar year, the IAASB is prioritizing the on-time completion of two significant public interest documents—the finalization of ISA 600 (Revised) on Group Audits(expected after the December 2021 IAASB meeting) and a proposed standard for Audits of Financial Statements of Less Complex Entities for public consultation (expected after the June 2021 IAASB meeting).
Other updates include that the IAASB will now discuss project proposals for Fraud and Going Concern in September 2021 and March 2022, respectively. The shift in the dates of the project proposals should not materially impact the work timelines for those two projects. The revised work plan also includes an exposure draft for ISA 500 (Audit Evidence) in September 2022.
The detailed quarterly forward work plan sets out the expected progression of the IAASB’s projects for the IAASB’s proposed Work Plan for 2022‒2023 to be approved at the IAASB’s December 2021 meeting, and is subject to approval by the Public Interest Oversight Board (PIOB) in the first quarter of 2022. If necessary, an updated version of the work plan table will be published on the IAASB website, subsequent to these meetings.
The International Auditing and Assurance Standards Board (IAASB) today published its new Framework for Activities. The Framework describes the IAASB’s operating processes and procedures for advancing standard setting and other related activities.
The IAASB developed the Framework to support a more agile standard-setting process. The Framework also provides additional public transparency around the IAASB’s prioritization activities, beyond the formally approved due process. The Framework sets out the different components within the IAASB’s due process for advancing topics onto and through the IAASB’s work plan.
