Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing

Exposure Draft

IAASB

Jul 25, 2013 | Exposure Drafts and Consultation Papers

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Comments due by: Nov 22, 2013

This exposure draft seeks views from stakeholders in relation to the IAASB’s proposals to enhance auditor reporting globally. The proposals respond to calls from investors, analysts, and other users of audited financial statements in the wake of the global financial crisis for the auditor to provide more relevant information in the auditor’s report, and build upon the indicative direction set out in the IAASB’s June 2012 Invitation to Comment. This exposure draft includes proposed new ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report, and a number of proposed revised ISAs, including revisions to ISA 700, Forming an Opinion and Reporting on Financial Statements. Example reports illustrating various circumstances are included in the proposed ISAs. The complete exposure draft is included as the first file below; the separate components are also included for ease of accessibility.

An At a Glance publication provides an overview of the exposure draft. IAASB Staff has prepared Guidance to Assist in Field Testing of Proposed ISA 701 to highlight considerations that may be of assistance to audit firms as they plan their field testing of proposed ISA 701. Staff-prepared supplements illustrating the changes to extant ISA 700 and extant 705 have also been prepared.

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Submitted Comment Letters

Wirtschaftsprüferkammer (6.03 MB)
(Germany)

Oct 25, 2013
Chartered Professional Accountants of Canada (455.41 KB)
(Canada)

Oct 30, 2013
BlackRock, Inc. (57.65 KB)
(United States of America)

Oct 30, 2013
Auditor General of Alberta (35.75 KB)
(Canada)

Nov 1, 2013
Australasian Council of Auditors-General (74.55 KB)
(Australia)

Nov 4, 2013
Auditor General of Manitoba (1.1 MB)
(Canada)

Nov 7, 2013
Fédération des Experts Comptables Européens (982.45 KB)
(Europe & Central Asia)

Nov 8, 2013
Association of International Accountants (113.21 KB)
(United Kingdom)

Nov 8, 2013
Chris Barnard (20.71 KB)
(Germany)

Nov 8, 2013
Institute of Professional Auditors (159.54 KB)
(Russian Federation)

Nov 11, 2013
Institute of Chartered Accountants (Ghana) (3.02 MB)
(Ghana)

Nov 13, 2013
Swire Pacific Limited (167.97 KB)
(Hong Kong, Special Administrative Region of China)

Nov 15, 2013
Klaus Ruhnke (Freie Universität Berlin, FACTS Department) (237.04 KB)
(Germany)

Nov 15, 2013
Komora Auditorů České Republiky (Chamber of Auditors of the Czech Republic) (273.63 KB)
(Czech Republic)

Nov 18, 2013
National Audit Office (93.67 KB)
(United Kingdom)

Nov 18, 2013
Swedish National Audit Office (223.23 KB)
(Sweden)

Nov 19, 2013
SRA (Samenwerkende Register Accountants) (59.32 KB)
(Netherlands)

Nov 19, 2013
Association of Chartered Certified Accountants (87.45 KB)
(United Kingdom)

Nov 19, 2013
European Issuers (617.8 KB)
(Belgium)

Nov 19, 2013
Pennsylvania Institute of Certified Public Accountants (371.41 KB)
(United States of America)

Nov 19, 2013
New York State Society of Certified Public Accountants (571.18 KB)
(United States of America)

Nov 19, 2013
California Society of CPAs (1.74 MB)
(United States of America)

Nov 19, 2013
Inter-American Accounting Association (225.76 KB)
(Bolivia)

Nov 19, 2013
International Association of Insurance Supervisors (83.44 KB)
(Switzerland)

Nov 20, 2013
The World Bank (1.72 MB)
(United States of America)

Nov 20, 2013
Crowe Horwath International (292.86 KB)
(United States of America)

Nov 20, 2013
U.S. Chamber of Commerce - Center for Capital Market (236.89 KB)
(United States of America)

Nov 20, 2013
Provincial Auditor Saskatchewan (1.89 MB)
(Canada)

Nov 20, 2013
BCEMW- Jean Bédard, Paul Coram, Reza Espahbodi, Theodore J. Mock and Rick C. Warne (1.24 MB)
(United States of America)

Nov 20, 2013
New Zealand Institute of Chartered Accountants (4.88 MB)
(New Zealand)

Nov 20, 2013
Institute of Chartered Accountants Australia (201.45 KB)
(Australia)

Nov 20, 2013
Australian Auditing and Assurance Standards Board (1.08 MB)
(Australia)

Nov 20, 2013
The Japanese Institute of Certified Public Accountants (99.33 KB)
(Japan)

Nov 21, 2013
The Securities Analysts Association of Japan (150.37 KB)
(Japan)

Nov 21, 2013
PKF International Limited (197.79 KB)
(United Kingdom)

Nov 21, 2013
Institute of Chartered Accountants of Scotland (110.7 KB)
(United Kingdom)

Nov 21, 2013
Johannesburg Stock Exchange (2.21 MB)
(South Africa)

Nov 21, 2013
PricewaterhouseCoopers International Limited (267.09 KB)
(United Kingdom)

Nov 21, 2013
AngloGold Ashanti Limited (2.73 MB)
(South Africa)

Nov 21, 2013
Baker Tilly UK Audit LLP (1.09 MB)
(United Kingdom)

Nov 21, 2013
Deloitte Touche Tohmatsu Limited (146.62 KB)
(United States of America)

Nov 21, 2013
Canadian Auditing and Assurance Standards Board (260.56 KB)
(Canada)

Nov 21, 2013
Standard & Poor's Ratings Services (323.24 KB)
(United States of America)

Nov 21, 2013
Financial Reporting Council (545.47 KB)
(United Kingdom)

Nov 21, 2013
Institute of Certified Public Accountants in Ireland (326.75 KB)
(Ireland)

Nov 21, 2013
European Banking Authority (208.38 KB)
(Europe & Central Asia)

Nov 21, 2013
American Institute of Certified Public Accountants’ Auditing Standards Board (592.85 KB)
(United States of America)

Nov 21, 2013
The Malta Institute of Accountants (267 KB)
(Malta)

Nov 21, 2013
Grant Thornton International Ltd (472.55 KB)
(United Kingdom)

Nov 21, 2013
CPA Australia (58.73 KB)
(Australia)

Nov 21, 2013