IAASB Chair Prof. Arnold Schilder was a guest speaker at the Public Seminar in Melbourne, Australia, presenting Directions in Auditing & Assurance: Challenges and Opportunities. The presentation focused on the relevance of Clarified International Standards on Auditing (ISAs), the Challenges to the Relevance of Audit, Auditor reporting and the IAASB’s Invitation to Comment (ITC), titled Improving the Auditor’s Report, and the challenges and opportunities in setting international auditing and assurance standards.