IFAC Professional Accountants in Business Committee Response to the IAASB Emerging Forms of External Reporting Discussion Paper

To remain relevant in the future, IFAC and its Professional Accountants in Business (PAIB) Committee believe that the accountancy profession in all its forms needs to embrace integrated reporting by reporting on the business in its entirety, and building trust and confidence in this reporting. IFAC Policy Position Paper #8, Enhanced Organizational Reporting: Integrated Reporting Key, states IFAC “supports reporting that produces information on which assurance conclusions can be expressed, in accordance with high-quality international assurance standards.”

It is within this context that a comment letter was submitted to the International Auditing and Assurance Standards Board (IAASB)’s Discussion Paper, Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements.