 |
International Auditing and Assurance Standards Board |
Resources
Publications
Below is a list of recent IAASB publications. Visit IFAC's online bookstore for a complete list of IAASB and other IFAC publications.
2008 Pronouncements
ISA 250 (Redrafted), Consideration of Laws and Regulations in an Audit of Financial Statements (July 2008)
This International Standard on Auditing (ISA) deals with the auditor’s responsibility to consider laws and regulations when performing an audit of financial statements.
ISA 510 (Redrafted), Initial Audit Engagements Opening Balances (July 2008)
This International Standard on Auditing (ISA) deals with the auditor’s responsibilities relating to opening balances when conducting an initial audit engagement. In addition to financial statement amounts, opening balances include matters requiring disclosure that existed at the beginning of the period, such as contingencies and commitments.
ISA 540 (Revised and Redrafted), Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures, and related Conforming Amendments (February 2008)
This International Standard on Auditing (ISA) deals with the auditor's responsibilities regarding accounting estimates, including fair value accounting estimates, and related disclosures in an audit of financial statements. Specifically, it expands on how ISA 315 (Redrafted), Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and Its Environment, ISA 330 (Redrafted), The Auditor's Responses to Assessed Risks, and other relevant ISAs are to be applied in relation to accounting estimates. It also includes requirements and guidance on misstatements of individual accounting estimates, and indicators of possible management bias.
ISA 550 (Revised and Redrafted), Related Parties, and related Conforming Amendments (July 2008)
This International Standard on Auditing (ISA) deals with the auditor’s responsibilities regarding related party relationships and transactions when performing an audit of financial statements.
ISA 560 (Redrafted), Subsequent Events (April 2008)
This International Standard on Auditing (ISA) deals with the auditor's responsibility relating to subsequent events in an audit of financial statements.
ISA 570 (Redrafted), Going Concern (July 2008)
This International Standard on Auditing (ISA) deals with the auditor’s responsibility in the audit of financial statements with respect to management’s use of the going concern assumption in the preparation and presentation of the financial statements.
ISA 580 (Revised and Redrafted), Written Representations (April 2008)
This ISA deals with the auditor's responsibility to obtain written representations from management and, where appropriate, those charged with governance.
Amendments to ISREs 2400 and 2410 (January 2008)
The amendments to the International Standards on Review Engagements (ISREs) clarify to which engagements each ISRE respectively is to be applied.
2008 Handbook
2008 Handbook of International Auditing, Assurance, and Ethics Pronouncements
(Includes all final pronouncements of the IAASB as of January 1, 2008, including the first nine International Standards on Auditing redrafted following the IAASB's clarity drafting conventions.)
Policy Position Issued in 2006
Modifications to International Standards of the International Auditing and Assurance Standards Board (IAASB) - A Guide for National Standard Setters that Adopt the IAASB's International Standards but Find It Necessary to Make Limited Modifications
The objective of this paper is to set out the policy of the IAASB on the question: What modifications may a national standard setter that adopts the International Standards promulgated by the IAASB as its national standards make to the International Standards while still asserting that the resulting national standards conform to the International Standards?
Strategy and Work Program
The Strategy and Work Program, 2009-2011 sets the direction and priorities for the activities of the IAASB for the three year period from January 2009 to December 2011. They are set within the context of the overall strategy of IFAC and the stated objective and strategic initiatives of the IAASB set out in its terms of reference.
A summary of the IAASB’s conclusions with regard to significant matters raised during the development of the strategy is presented in the Basis for Conclusions: IAASB Strategy and Work Program, 2009-2011.
Basis for Conclusion
The Basis for Conclusions provides background to a project, main comments received on the exposure draft, and the IAASB's conclusions regarding these comments in developing the final standard.
Basis for Conclusions: ISA 230 (Redrafted), Audit Documentation (Issued December 2007)
Basis for Conclusions: ISA 230, Audit Documentation (Issued October 2005)
Basis for Conclusions: ISA 250 (Redrafted), Consideration of Laws and Regulations in an Audit of Financial Statements (Issued July 2008)
Basis for Conclusions: ISA 260 (Revised and Redrafted), Communication with Those Charged with Governance (Issued December 2007)
Basis for Conclusions: Close Off Document of ISA 260 (Revised), Communication with Those Charged with Governance (Issued October 2006)
Basis for Conclusions: ISA 510 (Redrafted), Initial Audit Engagements-Opening Balances (Issued July 2008)
Basis for Conclusions: ISA 540 (Revised and Redrafted), Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Disclosures (Issued February 2008)
Basis for Conclusions: Close Off Document of ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures (Other than those Involving Fair Value Measurements and Disclosures) (Issued December 2006)
Basis for Conclusions: ISA 550 (Revised and Redrafted), Related Parties (Issued July 2008)
Basis for Conclusions: ISA 560 (Redrafted), Subsequent Events (Issued April 2008)
Basis for Conclusions: ISA 570 (Redrafted), Going Concern (Issued July 2008)
Basis for Conclusions: ISA 580 (Revised and Redrafted), Written Representations (Issued April 2008)
Basis for Conclusions: ISA 600 (Revised and Redrafted), Special Considerations - Audits of Group Financial Statements (Including the Work of Component Auditors) (Issued October 2007)
Basis for Conclusions: ISA 720 (Redrafted), The Auditor's Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements (Issued December 2007)
Basis for Conclusions: Close Off Document of ISA 805 (Revised), Engagements to Report on Summary Financial Statements (Issued July 2007)
Basis for Conclusions: Clarity (Issued December 2006)
IAASB Communications
October 2007/03
The IAASB has announced that the final effective date for its redrafted International Standards on Auditing will be for audits of financial statements for periods beginning on or after December 15, 2009. The staff of the IAASB has issued a document, Effective Date for IAASB's Clarified International Standards on Auditing, that provides the rationale for the effective date, the timetable for completion of the Clarity project, and implementation considerations.
April 2007/02
The IAASB has issued advice to auditors that reports for special purpose audit engagements can, with appropriate amendments, be issued in the form of an illustrative report as set out in ISA 700, The Independent Auditors Report on a Complete Set of General Purpose Fiancial Statements.
January 2007/01
The staff of the IAASB has issued a document on the Status of the IAASB's Work to Improve the Clarity of Its Standards. This document describes the main changes to the IAASB's standards arising from the application of its clarity drafting conventions and explains the IAASB's approach to implementing the conventions to all ISAs.
Annual Reports
The IAASB issues an annual report on its activities and standards issued during the year.
- IAASB Annual Report 2007
- IAASB Annual Report 2006
- IAASB Annual Report 2005
- IAASB Annual Report 2004
- IAASB Annual Report 2003
- IAASB Annual Report 2002
Special Reports
The following publications are not authoritative or official but cover issues relevant to international auditing, assurance and related matters.
Translations
For information regarding IFAC's policy on the translation and reproduction of IAASB and other IFAC standards, please read the IFAC policy statements, Permissions Policy for Publications Issued by the International Federation of Accountants and Translation of Standards and Guidance Issued by the International Federation of Accountants.
eNews
The IAASB issues regular electronic updates on its activities and current initiatives. To receive eNews updates by email, click here to register.