• IAASB Response to the IIRC's Discussion Papers “Assurance on Integrated Reporting”

    The International Auditing and Assurance Standards Board (IAASB) submitted its response to the International Integrated Reporting Council on their Discussion Papers “Assurance on <IR>." The responses received by the IIRC on this consultation will provide relevant input to the further work of the Integrated Reporting Working Group of the IAASB.
    IAASB
    English

  • Notice of the Call for Nominations: Candidates Sought for Independent Standard-Setting Boards

    New York, New York English

    The Notice of the Call for Nominations for the Independent Standard-Setting Boards in 2016 was issued today. The Notice of the Call sets out the upcoming opportunities for membership on the International Auditing and Assurance Standards Board® (IAASB®), International Accounting Education Standards Board™ (IAESB™), International Ethics Standards Board for Accountants® (IESBA®), and International Public Sector Accounting Standards Board® (IPSASB®).

    For 2016, there are 25 vacancies on the independent standard-setting boards. All vacancies on the boards are open for nominations by all stakeholders, including professional accountancy and international organizations, governmental agencies, firms, and the public. Nominations of non-accountants for the public member vacancies are strongly encouraged.

    The official Call for Nominations for the Independent Standard-Setting Boards in 2016 will be issued on January 14, 2015, and nominations may be submitted from January 14 to March 15, 2015. The Notice of the Call is issued in advance of the Call for Nominations to allow sufficient time for all stakeholders to prepare for the next nominations cycle.

    To assist nominating organizations and self-nominees, the International Federation of Accountants® (IFAC®) has published Developing a Nominations Strategy, which was also released today. Along with the Notice of the Call, the documents provide information on the relevant membership qualifications, including the required time commitment and performance expectations for volunteers and to offer strategic and practical guidance in identifying the most qualified candidate for each available position.

    The Nominating Committee follows an open and transparent process to select the best candidates for the available positions, while also aiming to achieve gender, regional, and professional balance. For more information about the Nominating Committee, its due process, or guidance in selecting the best candidate, please visit Nominating Committee web page.

    About the IAASB
    The IAASB develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by IFAC.

    About the IAESB
    The IAESB develops education standards, guidance, and information papers for use by IFAC member bodies under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAESB, and the IAESB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAESB are facilitated by IFAC.

    About the IESBA
    The IESBA develops ethics standards and other pronouncements for professional accountants worldwide under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IESBA, and the IESBA Consultative Advisory Group, which provides public interest input into the development of the standards and other pronouncements. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

    About the IPSASB
    The IPSASB develops accounting standards and guidance for use by public sector entities. It receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland. The structures and processes that support the operations of the IPSASB are facilitated by IFAC.

    About IFAC
    IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. Founded in 1977, it is comprised of over 175 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

  • Audit Quality Framework & Proportionate Application of ISAs

    Brendan Murtagh, IAASB Board Member
    IFAC-SAFA SMP Forum
    New Delhi, India English

    IAASB Member Brendan Murtagh discusses the IAASB’s Audit Quality Framework, the proportionate application of International Standards on Auditing (ISAs) to smaller entities, and tips for audit efficiency at the 2014 IFAC-SAFA Regional SMP Forum. 

  • 2014 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements

    Previous Edition; Superseded by the Current Edition

    The 2014 edition of the handbook includes ISAE 3000 (Revised) and Conforming Amendments. A third volume has been added to the handbook that contains the International Framework for Assurance Engagements (previously included in Volume II of the handbook) and the recently issued Framework for Audit Quality: Key Elements that Create an Environment for Audit Quality. The handbook was last issued in 2013.

    IAASB
    English

  • Investor Advocate to Lead the IAASB’s Consultative Advisory Group

    New York, New York English

    Matthew Waldron has been appointed as the incoming Chair of the Consultative Advisory Group (CAG) to the International Auditing and Assurance Standards Board(IAASB), effective April 1, 2015. 

    His appointment, which has been approved by the Public Interest Oversight Board,* follows his election by members of the IAASB CAG.**

    As Chair, Mr. Waldron will lead the IAASB CAG—an independent body comprising regulators, preparers, international investor and user groups, and other stakeholders with an interest in international auditing and assurance—in providing strategic and technical advice in the public interest to the IAASB. Mr. Waldron will play a key role in ensuring that the CAG’s views are heard and considered in the IAASB’s deliberations.

    He is a director in the Financial Reporting Policy Group at CFA Institute and has served as its representative on the IAASB CAG since 2008. In that role, he is principally responsible for monitoring and responding to audit and assurance matters relating to investor interests. His prior experience includes working for KPMG, PwC, and the Federal Home Loan Mortgage Corporation. He is also a member of the CAG to the International Ethics Standards Board for Accountants.

    “It is an honor to be elected to this position by my peers on the CAG, particularly at this critical time for financial reporting supply chain stakeholders,” Mr. Waldron said. “The CAG represents 32 of the world’s foremost organizations with a deep interest in auditing and assurance. I look forward to marshalling the CAG members’ global knowledge and experience to help the IAASB’s work and, in particular, ensuring end-users have a clear voice in the development of the IAASB’s standards and guidance.”

    Mr. Waldron will succeed Prof. Linda de Beer, who has served as the CAG Chair since September 2010.  Prof de Beer commented as follows on Mr. Waldron’s appointment: “I am delighted with Matt’s election to take over from me as the CAG Chair. The investor community is a very important stakeholder of the audit service.  A new CAG Chair from that constituency gives an important message as to the independence of the CAG and how seriously it takes its role to advise and consult the IAASB in setting auditing standards in the public interest.”

    Commenting on Mr. Waldron’s appointment, Prof. Arnold Schilder, IAASB Chairman, said, “Matt’s extensive senior experience working within, and advising, the financial services sector means he brings a highly valued perspective to the CAG’s important work. We look forward to his leadership of the CAG as the IAASB embarks on several new standard-setting initiatives. On behalf of the IAASB, I thank Linda for her outstanding contribution to our deliberations and I am sure that she will continue to be a strong advocate for the public interest in her home country, South Africa, and globally.”

    About the IAASB CAG
    The CAG comprises a diverse mix of 32 Member Organizations** including, user groups, regulators, financial executives, international public interest organizations and other professional bodies such as lawyers, valuation experts and actuaries with interests in, or related to audit and assurance. The CAG is an integral and important part of the IAASB's formal process of consultation, and Representatives of CAG member organizations provide the IAASB advice on numerous areas, including the IAASB’s agenda and project timetable (work program); its technical projects; and other matters of relevance to the IAASB’s activities. The Public Interest Oversight Board (PIOB) oversees the work of the CAG, and the roles and responsibilities of the CAG Chair are approved by the PIOB. 

    About the International Auditing and Assurance Standards Board® (IAASB®)
    The IAASB develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC).

    About IFAC®
    IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 179 members and associates in 130 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.

    *The PIOB
    Established in 2005 as the oversight board for the global accountancy profession, the PIOB oversees the International Auditing and Assurance Standards Board, International Ethics Standards Board for Accountants, the International Accounting Education Standards Board™, and their CAGs, as well as IFAC’s Compliance Advisory Panel, with the objective of increasing the confidence of investors and others that their activities are properly responsive to the public interest. PIOB members are nominated by international institutions and regulatory bodies.

    **IAASB CAG Members Organizations and Observers

    • Asian Financial Executives Institutes
    • Associação Brasileira de Instituições Financeiras de Desenvolvimento
    • Basel Committee on Banking Supervision
    • BUSINESSEUROPE
    • CFA Institute
    • European Commission
    • European Federation of Accountants and Auditors for SMEs
    • European Financial Executives Institutes
    • Fédération des Experts Comptables Européens
    • Gulf States Regulatory Authorities
    • Information Systems Audit and Control Association
    • Institute of Internal Auditors
    • International Accounting Standards Board
    • International Actuarial Association
    • International Association of Insurance Supervisors
    •  International Bar Association
    • International Corporate Governance Network
    • International Organization of Securities Commissions
    • International Organization of Supreme Audit Institutions
    • International Valuation Standards Council
    • Islamic Financial Services Board
    • Japan Securities Dealers Association
    • National Association of State Boards of Accountancy
    • North American Financial Executives Institutes
    • Organisation for Economic Cooperation and Development
    • Sri Lanka Accounting and Auditing Standards Monitoring Board
    • United Nations Conference on Trade & Development
    • World Bank
    • World Federation of Exchanges

    IAASB CAG Observers

    • Financial Services Agency, Japan
    • International Monetary Fund
    • US Public Company Accounting Oversight Board

     

     

  • IAASB June 2014 Meeting Highlights and Podcast Now Available

    IAASB Meeting
    New York, New York English

    Listen to the podcast below. See the June 2014 meeting page for additional materials, including meeting highlights, agenda papers, and full audio recordings.

    Meeting Highlights Listen & Subscribe in iTunes
    IAASB June 2014 Meeting Highlights

  • IAASB March 2014 Meeting Highlights and Podcast Now Available

    IAASB Meeting
    New York, New York English

    Listen to the podcast below. See the March 2014 meeting page for additional materials, including meeting highlights, agenda papers, and full audio recordings.

    Meeting Highlights Listen & Subscribe in iTunes
    IAASB March 2014 Meeting Highlights

  • IAASB December 2013 Meeting Highlights and Podcast Now Available

    IAASB Meeting
    New York, New York English

    Listen to the podcast below. See the December 2013 meeting page for additional materials, including meeting highlights, agenda papers, and full audio recordings.

    Meeting Highlights Listen & Subscribe in iTunes
    IAASB December 2013 Meeting Highlights
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