The IAASB is currently undertaking information-gathering activities to inform the modernization of the following targeted standards in the ISA 500-Series to reflect the current business and audit environments more appropriately, including the impact of the use of technology by entities, auditors and the organizations they interact with:
The IAASB is currently working on a project to modernize and revise ISRE 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity.
This consultation sets out the IAASB’s final position, rationale, and pathway to broader differential requirements relating to the definitions of listed and public interest entities in the International Standards on Quality Management (ISQMs) and International Standards on Auditing (ISAs). It includes an Invitation to Comment for stakeholders to share observations that might be relevant to the IAASB prior to finalizing the narrow scope amendments to the ISQMs and ISAs, and to answer a few specific questions about related forward-looking matters.
The IAASB’s final position is different from the position that was presented in the Exposure Draft of the IAASB PIE Track 2 Project due to a divergence issue between the IAASB PIE proposals and the IESBA PIE Revisions. The IAASB’s Post-Exposure Consultation provides stakeholders the opportunity to familiarize themselves with the identified divergence issue and how this has informed the IAASB as it advanced the IAASB PIE proposals, including the IAASB’s rationale in arriving at its final position.
The IAASB remains committed to the key elements of its original proposals that were presented in the Exposure Draft of the PIE Track 2 Project. Therefore, the IAASB has agreed to revisit at a future date the decision to adopt the definition of PIE in the IESBA Code (adapted as necessary for the ISQMs and ISAs) and extending differential requirements to apply to audits of PIEs.
This consultation sets out the IAASB’s final position, rationale, and pathway to broader differential requirements relating to the definitions of listed and public interest entities in the International Standards on Quality Management (ISQMs) and International Standards on Auditing (ISAs). It includes an Invitation to Comment for stakeholders to share observations that might be relevant to the IAASB prior to finalizing the narrow scope amendments to the ISQMs and ISAs, and to answer a few specific questions about related forward-looking matters.
International auditors have been given new guidance on what to check when assessing firms' environmental, social and governance claims - and how - as part of efforts to increase rigour and consistency, the chair of the industry's global ethics watchdog told Reuters. Continue reading at Reuters.com.
The IAASB is pleased to contribute to the new book, For the World’s Profit: How Business Can Support Sustainable Development, published by The Brookings Institute. IAASB Chair Tom Seidenstein and Former Board Member Warren Maroun co-authored a chapter on the rollout of International Standard on Sustainability Assurance (ISSA) 5000 and the evolving assurance ecosystem.
This volume explores key debates shaping the future of business and sustainability, including value creation, risk management, and corporate accountability. The IAASB’s contribution highlights the importance of high-quality assurance for sustainability reporting and the global adoption of ISSA 5000, ensuring transparency, credibility, and trust in sustainability-related information.
