To account for COVID-19’s impact on the International Auditing and Assurance Standards Board’s (IAASB) work, its staff capacity to deliver, and the capacity of the IAASB’s stakeholders to participate in consultations and to implement new standards, the IAASB has reconsidered the timelines for its projects in 2020. The Revised Detailed Work Plan Table for 2020-2021 sets out a description of the changes that have been made and the revised timelines for 2020 and 2021 (as applicable).

“Like many others, we revised our Work Plan to respond to realities imposed by the COVID-19 pandemic,” noted Tom Seidenstein, Chair of the IAASB. “Our approach directs capacity to emerging  public interest needs and accounts for the capacity of our stakeholders, volunteer Board Members, and staff. We will also continue to monitor whether further changes are needed."

The Technology Working Group (TWG) of the International Auditing and Assurance Standards Board (IAASB) today released non-authoritative support material related to the auditor’s documentation when using automated tools and techniques (ATT), such as data analytics, robotics automation processes or artificial intelligence applications. 

The publication intends to assist auditors in understanding how the use of ATT during an audit engagement may affect the auditor’s documentation in accordance with International Standard on Auditing (ISA) 230, Audit Documentation, and the documentation requirements of other relevant ISAs.

The publication does not constitute an authoritative pronouncement of the IAASB, nor does it amend, extend or override International Standard on Quality Control (ISQC) 1 or the ISAs, the texts of which alone are authoritative. Reading the publication is not a substitute for reading ISQC 1 or the ISAs.

Click here to learn more.

Today, the International Auditing and Assurance Standards Board (IAASB) published its Strategy for 2020‒2023 (the Strategy) and Work Plan for 2020‒2021 (the Work Plan).

The strategy, developed through extensive external consultation over two years, looks to build sustained trust in financial and other reporting through high-quality audits, assurance, and related services engagements. The IAASB also recognizes the need to address the impact of technology, demands relating to changing reporting needs (including demands in relation to non-financial reporting), and changing expectations for the audit.

“The IAASB recognizes the significant challenges facing the audit profession and the standards that govern it. This Strategy and Work Plan provides an important compass for our organization to address these challenges in a highly responsive and innovative manner,” said Tom Seidenstein, Chair of the IAASB. “We will inevitably need to adapt over the strategy’s four-year period, but the emphasis on the public interest, innovation and agility, and collaboration should remain relevant.”

Consistent with governance requirements, the Public Interest Oversight Board (PIOB), the IAASB’s independent oversight body, concluded at its March 2020 meeting that the IAASB developed its Strategy and Work Plan in accordance with due process and with proper regard for the public interest.

Key IAASB Strategy and Work Plan Elements

The strategy sets three strategic objectives to focus IAASB priorities and resources during 2020‒2023:

1. Increase the emphasis on emerging issues to ensure that the IAASB International Standards provide a foundation for high-quality audit, assurance and related services engagements
2. Innovate the IAASB’s ways of working to strengthen and broaden our agility, capabilities, and capacity to do the right work at the right time
3. Maintain and deepen relationships with stakeholders to achieve globally relevant, progressive and operable standards

The Work Plan describes, at the time of the December 2019 approval, how the IAASB intends to increase its focus on emerging issues, while completing the existing work already committed to and underway. In the Work Plan, the IAASB anticipates standard-setting projects on going concern, fraud, and audit evidence, and work to address the needs of auditors of Less Complex Entities, among other topics. To support an evidence-based and structured consideration of new topics, the IAASB Work Plan highlights a new Framework for Activities, comprising several key components, to help the IAASB develop informed and targeted responses to address emerging issues and topics of global relevance.

Impact of the COVID-19 Pandemic on the Strategy and Work Plan

While the IAASB approved its strategy before the pandemic, the three strategic objectives remain relevant. The IAASB has used these strategic objectives to help prioritize its crisis response. For example, the IAASB has developed, and is continuing to develop, guidance on audit considerations in response to the pandemic. The IAASB is enhancing its interactions with national audit standard-setters, regulators, and independent audit oversight regimes.

At the same time, the IAASB recognizes that its Work Plan and timelines may need to adapt as new priorities emerge, the pandemic and associated restrictions impact our ability to work, and stakeholder capacity for change becomes constrained. In the coming weeks and months, the IAASB will consider potential impacts and consult, as appropriate, with the PIOB, the IAASB Consultative Advisory Group, and other stakeholders.

The outcome of IAASB consultations could lead to the reprioritization of topics and changes in the timing of projects and consultation efforts. The IAASB will post any changes on its Website.

• Joint FAQs from IAASB and IESBA Staff support interoperability and consistent application of ISSA 5000 and IESSA
• IESBA Staff Q&As explain key aspects of IESSA to support effective implementation of the ethics and independence standards for sustainability assurance engagements
• Resources help stakeholders implement the new global sustainability standards with clarity and confidence

The Staffs of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) today released two new publications to support implementation of the IAASB’s and IESBA’s global sustainability-related standards: the International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA).

Developed in close coordination and launched in January 2025, ISSA 5000 and IESSA provide a coordinated global assurance and ethics framework for sustainability assurance engagements. The new publications aim to highlight the interoperability of the two Boards’ standards and to assist practitioners in the consistent application of the standards.

Frequently Asked Questions (FAQs) on Sustainability Assurance Engagements

These FAQs issued jointly by IAASB and IESBA Staff address practical questions about applying ISSA 5000 and IESSA together. They address the following areas:

• Identifying relevant ethical requirements
• Determining group and value chain components
• Using the work of another practitioner
• Addressing IESSA disclosure requirements in the assurance report

IESBA Staff Q&As on IESSA

The IESBA Staff Questions and Answers publication focuses on ethics and independence considerations for practitioners performing sustainability assurance engagements.

Topics covered include:

• The scope of the ethics and independence standards in IESSA
• Independence considerations for group sustainability assurance engagements, including value chain components
• Independence considerations applicable to using the work of another practitioner
• Providing non-assurance services to a sustainability assurance client
• Effective date of the IESSA

The joint IAASB and IESBA Staff FAQs are available on both the IAASB and IESBA websites; the IESBA Staff Q&A publication is available on the IESBA website. For more information, visit www.ethicsandaudit.org/TrustInSustainability.

About IAASB and IESBA
The International Auditing and Assurance Standards Board^© and the International Ethics Standards Board for Accountants^© are part of the International Foundation for Ethics and Audit (IFEA) ^©, a nonprofit organization that supports high-quality, international ethics, audit, and assurance standards in the public interest. The IAASB and IESBA develop and issue their standards independently and in accordance with an approved due process and the Public Interest Framework, overseen by the Public Interest Oversight Board.

The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements.

The IESBA is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

The International Foundation for Ethics and Audit (IFEA) is now accepting applications for its 2025 Staff Fellows Program—a unique opportunity for accomplished professionals to work with the International Auditing and Assurance Standards Board (IAASB) or the International Ethics Standards Board for Accountants (IESBA) on a temporary, seconded basis.

Staff Fellows are seconded from their current employer to work alongside IAASB or IESBA staff on a variety of international standard-setting projects, including research and analysis, drafting, project management, and global stakeholder engagement. Fellowships typically begin in September and last from six months to two years.

The program offers numerous benefits to both Fellows and their sponsoring organizations, including strengthened global networks, enhanced knowledge of international standards, and valuable professional development. Relocation to New York is encouraged but not required.

IFEA welcomes applications from professionals with a proven track record, technical expertise, and a collaborative mindset. Interviews for the 2025 cohort will take place in June and July. Interested organizations should submit candidate CVs to ifeahumancapital@ethicsandaudit.org by July 31, 2025.

Learn more about the program and current and alumni Fellows on the IFEA website here.

Expected publication Date: TBD