Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing
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
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Group of 100 (56.48 KB)(Australia)
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European Federation of Accountants and Auditors for SMEs (316.23 KB)(Belgium)
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Zambia Institute of Chartered Accountants - ZICA (300.28 KB)(Zambia)
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Hans Gortemaker (Erasmus University) (24.98 KB)(Netherlands)
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Individual- Clinical Lasers Limited (21.35 KB)(Canada)
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MAZARS (122.27 KB)(France)
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Swiss Holdings (251.56 KB)(Switzerland)
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Altaf Noor Ali (112.49 KB)(Pakistan)
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Auditor General of Ontario (88.27 KB)(Canada)
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Dubai Financial Services Authority (157.13 KB)(United Arab Emirates)
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Felicitas T Irungu (Felikar and Associates) (60.26 KB)(Kenya)
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Malaysian Institute of Accountants' Auditing and Assurance Standards Board (321.53 KB)(Malaysia)
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Association of British Insurers (195.76 KB)(United Kingdom)
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Pitcher Partners (297.57 KB)(Australia)
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Canadian Public Accountability Board (123.77 KB)(Canada)
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Chinese Institute of Certified Public Accountants (242.96 KB)(China)
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Institut der Wirtschaftspruefer (126.59 KB)(Germany)
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Peter W. Young (Consulo Advisers) (259.51 KB)(Australia)
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Institute of Chartered Accountant of India (67.8 KB)(India)
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Investment Management Association (IMA) (185.05 KB)(United Kingdom)
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European Securitites and Markets Authority (313.77 KB)(Europe & Central Asia)
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Auditor-General of New Zealand (4.67 MB)(New Zealand)
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Institute of Chartered Accountants of Zimbabwe (41.27 KB)(Zimbabwe)
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International Corporate Governance Network (349.34 KB)(United Kingdom)
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New Zealand Auditing and Assurance Standards Board (478.85 KB)(New Zealand)
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Basel Committee on Banking Supervision (66.01 KB)(Switzerland)
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Independent Regulatory Board for Auditors (423.09 KB)(South Africa)
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International Forum of Independent Audit Regulators (1.79 MB)(United States of America)
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Institute of Chartered Accountants of Pakistan (309.53 KB)(Pakistan)
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Institute of Singapore Chartered Accountants (718.89 KB)(Singapore)
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Jack Ciesielski (632.4 KB)(United States of America)
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International Organization of Securities Commissions (125.62 KB)(Spain)
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Joseph Carcello (123.02 KB)(United States of America)
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Center for Audit Quality (524.96 KB)(United States of America)
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CFA Institute (658.29 KB)(United States of America)
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Sobeys Inc. (257.44 KB)(Canada)
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Denise Silva Ferreira juvenal (154.23 KB)(Brazil)
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Council of Institutional Investors (149.94 KB)(United States of America)
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Institute of Chartered Accountants of Jamaica (89.29 KB)(Jamaica)