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  • Proposed International Standard on Related Services 4400 (Revised), Agreed-Upon Procedures Engagements

    The International Auditing and Assurance Standards Board (IAASB) seeks public comment by March 15, 2019 on its Exposure Draft of proposed ISRS 4400 (Revised), Agreed-Upon Procedures Engagements.

    Agreed-upon procedures (AUP) engagements are widely used in many jurisdictions and the demand for these engagements continues to grow. To ensure that the IAASB’s standard on AUP engagements remains relevant in the current business environment, the IAASB proposes to enhance key concepts in the standard, including:

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  • Survey on IAASB’s Future Strategy

    The IAASB conducted a survey to seek views and insights from its stakeholders on emerging developments and trends that are likely to be important to its 2020-2023 strategy. The survey is an important tool to help identify key issues for consideration in developing its future strategy in the context of the IAASB’s broad strategic focus and the changing environment, and with the overriding objective of serving the public interest.

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  • Global Ethics Board Consults on Professional Skepticism

    Public Comment Sought on Behaviors Associated with Exercise of Professional Skepticism

    The International Ethics Standards Board for Accountants® (IESBA®) seeks public comment by August 15, 2018 on its consultation paper, Professional Skepticism – Meeting Public Expectations.

    In response to regulatory and other stakeholder feedback on the topic, the paper explores:

    (a) The behavioral characteristics comprised in professional skepticism;

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  • IPSASB Proposed Strategy and Work Plan 2019-2023

    The International Public Sector Accounting Standards Board® (IPSASB®) has published a Consultation Document on its proposed Strategy and Work Plan for 2019-2023.

    The draft Strategy emphasizes the importance of International Public Sector Accounting Standards (IPSAS) to public financial management reforms and proposes the following strategic objective:

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  • Exposure Draft 64, Leases

    The International Public Sector Accounting Standards Board (IPSASB) has issued Exposure Draft 64, Leases.

    The Exposure Draft proposes a single right-of-use model for lease accounting that will replace the risks and rewards incidental to ownership model in IPSAS 13, Leases

    For lessees, ED 64 proposes accounting requirements that are converged with IFRS 16, Leases issued by the International Accounting Standards Board. For lessors, ED 64 proposes a right-of-use model specifically designed for public sector financial reporting.

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