Audit Evidence and Risk Response

The IAASB’s Audit Evidence and Risk Response project aims to concurrently address revisions to the following ISAs to holistically address the ‘reference framework’ and the ‘performance’ aspects of obtaining and evaluating audit evidence:

• ISA 330, The Auditor’s Responses to Assessed Risks,

• ISA 500, Audit Evidence, and

• ISA 520, Analytical Procedures.

This project builds on the IAASB’s work effort on the Audit Evidence project that commenced in March 2019, and integrates the cumulative work undertaken by that project until March 2024.

In revising the standards, the IAASB aims to:

• Enhance the application of professional judgment and professional skepticism exercised by auditors:
  • When making judgments about information intended to be used as audit evidence, and evaluating whether sufficient appropriate audit evidence has been obtained; and
  • When designing and implementing overall responses or designing and performing further audit procedures in response to assessed risks of material misstatement.
• Promote consistent practice and auditor behavior by facilitating effective responses to risks of material misstatement, including by strengthening auditors' work on internal controls.
• Facilitate, and where appropriate, encourage, auditors' use of technology in obtaining audit evidence and evaluating its sufficiency and appropriateness.

Project Timeline

The following table sets out the project timeline for the Audit Evidence and Risk Response project. Future dates reflect targets, which are subject to change as the work progresses.​

Current Status of the Project

Refer to the “Latest on Our Projects” page for up to date information on the project. 

IAASB Staff Contacts

• Kalina Shukarova Savovska
• Ana Espinal-Rae
• Fadi Mansour
• Hankenson Jane L. Talatala
• Kristie Zhang

Project Board Members

• Josephine Jackson
• Edo Kienhuis