International Auditing and Assurance Standards Board (IAASB)

🚨 Breaking News: We just approved the International Standard on Sustainability Assurance 5000—better known as ISSA 5000. With this milestone, we will now finalize the text of the standard, for certification by the Public Interest Oversight Board | PIOB, and prepare first-time implementation support materials. We expect to share final language of the standard before the end of the month and formally publish by the end of the year. In January 2025, we’ll publish a range of guidance and application materials. 🌍 IESBA Standards: In case you missed it, our partner board, the International Ethics Standards Board for Accountants (IESBA), also made significant progress this week with its sustainability-related standards. These include the International Ethics Standards for Sustainability Assurance (#IESSA) and proposed revisions to the International Code of Ethics for Professional Accountants on sustainability reporting. Alignment and interoperability between ISSA 5000, IESSA, and the IESBA Code of Ethics are crucial, as our standards are designed to work together to establish a global baseline for sustainability assurance. Learn more about IESBA’s sustainability work here: https://lnkd.in/eEt_PZE9 📢 Calling All Translating Bodies: We encourage translating bodies to request permission to translate ISSA 5000 now. Request permission here: https://lnkd.in/eJPpNYKm #Sustainability #Assurance #Ethics #Collaboration #IESBA #ISSA5000

The agenda for our December meeting is now available! The four-day meeting, from December 9 to 12, will include discussions on: 🔹 The integrated audit evidence and risk response project, including a vote to approve the project proposal at the end of the week. 🔹 Further discussion of a technology gap analysis, one of the first actions stemming from our new Technology Position. 🔹 Fraud, including review of the full draft of the final standard. 🔹 Going concern, including a vote to approve the final revised ISA 570. 🔹 Listed and public interest entities - track 2. Check out the agenda here: https://bit.ly/4fuAbSM Don't forget to follow the discussion through our livestream on YouTube!

🌍 The International Public Sector Accounting Standards Board (IPSASB) has made a landmark move with the release of its draft Climate-related Disclosures Standard—marking the first sustainability reporting standard for the public sector (IPSASB SRS). Reliable climate information is as essential in the public sector as it is in the private sector. With standardized data, governments worldwide will be equipped to drive climate action with transparency and accountability. 👏 Congratulations to the IPSASB team on this major achievement! 🔗 Learn more about this important step here: https://lnkd.in/eSehPiKG

📢 Last week, the IAASB’s Fraud Task Force gathered in New York to continue analyzing the feedback received on the Exposure Draft of Proposed ISA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, and Proposed Conforming and Consequential Amendments to Other ISAs. The Task Force will present its proposals on addressing key public interest matters raised by stakeholders at the upcoming IAASB meeting in December. The final standard is anticipated to be approved by the IAASB in March 2025. Read more on our Fraud Exposure Draft here https://lnkd.in/eB-DA9HA 🌐 #IAASB #Audit #FraudPrevention #PublicInterest

In case you missed the news, we unanimously approved #ISSA5000 at our September meeting. The final standard will be published following certification this quarter, with guidance and application materials coming in January. IFAC has published a new article about the standard, including its key features. Read it here: https://bit.ly/3Aeg4JO #SustainabilityAssurance #ISSA5000 #IAASB #IFAC

Earlier this month, the PIE Task Force convened virtually to discuss how to best operationalize the newly adopted definition of publicly traded entity within the International Standards on Quality Management and ISAs. The Task Force also reviewed valuable stakeholder feedback on extending the existing differential requirements for listed entities. These insights, along with the Task Force's proposals, will be presented to the IAASB for further discussion at our December meeting. 🌐 🔹 Read more on our Listed Entity and Public Interest Entity project here: https://lnkd.in/exBMv2cD #IAASB #Assurance #PublicInterest

Agenda papers for the upcoming IAASB-IESBA Stakeholder Advisory Council meeting have been posted online. Along with the International Ethics Standards Board for Accountants (IESBA), we’ll be discussing adoption and implementation, technology, and the future of accounting firms. Read the agenda papers here: https://bit.ly/4dDqVue Watch the meeting live November 4-5 on YouTube here: https://bit.ly/40zjv8L

Looking for additional resources on #QualityManagement? IFAC has published a three-part implementation series, focused on small- and medium-sized practices. 🔹 Installment one: getting ready for the standards 🔹 Installment two: developing an implementation plan 🔹 Installment three: monitoring and remediation Check them out here: https://lnkd.in/eVqx9GKx

Hear more about how ethics are helping shape a better world from the International Ethics Standards Board for Accountants (IESBA)!

Last Chance! Call for Papers closes in two weeks The International Association for Accounting Education and Research has issued two calls for papers and research focusing on work that will inform the work of the International Sustainability Standards Board (ISSB) on sustainability accounting and reporting and our work on assurance of financial and sustainability-related information. The papers will be included in two special issues of Meditari Accounting Research Journal. 📝🔍 Learn more about the ISSB-related call for papers here: https://bit.ly/4avyL8j Learn more about the IAASB-related call for papers here: https://bit.ly/4at6sap Key dates · Submissions open from July 1, 2024 to October 31, 2024 · Expected publication date of special issue: early 2026 All submissions should be made using the journal’s online system, choosing the special issue during submission. 💡✨ #IAASB #AuditingResearch #MeditariAccountancyResearchJournal #Collaboration #Innovation