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Now Available: Watch IESBA's Global Webinar on the Proposed Revisions Relating to the Definition of Engagement Team and Group Audits

Apr 27, 2022 | New York, NY | English

Recently, the IESBA hosted two global webinars on the Board's exposure draft, Proposed Revisions to the Code Relating to the Definition of Engagement Team and Group Audits. Both webinars provided an overview of the exposure draft and opportunities for stakeholders to participate in a questions and answers session with the presenters. 

The proposals in the Exposure Draft establish provisions that comprehensively address independence considerations for firms and individuals involved in an engagement to perform an audit of group financial statements. The proposals also address the independence implications of the change in the definition of an engagement team―a concept central to an audit of financial statements―in the International Auditing and Assurance Standards Board's (IAASB) International Standard on Auditing (ISA) 220, Quality Management for an Audit of Financial Statements. The proposals were developed in close coordination with the IAASB's group audits and quality management projects.

Comments to the exposure draft are requested by May 31, 2022.