This Guidance responds to ten key stakeholder-identified challenges commonly encountered in applying International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information. The guidance promotes consistent high-quality application of ISAE 3000 (Revised) in sustainability and other external reporting assurance engagements to:

At its March 2021 meeting last week, the IAASB approved Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting (EER) Assurance Engagements. This guidance marks a significant step forward in supporting the evolving field of assurance for non-financial reporting. To help stakeholders understand the role of both the guidance and ISAE 3000 (Revised), which is the IAASB’s authoritative pronouncement, IAASB Chair Tom Seidenstein has published a new article detailing the guidance and how it supports the application of ISAE 3000 (Revised), growing demands for non-financial information reporting and assurance thereon, and the IAASB’s ongoing commitment to the consistent performance of quality engagements. The guidance will be published in April.

Read more on the IAASB website.

New rules for how corporate auditors manage the quality of their own work are on their way. But many audit firms are worried that international standards will diverge from those in the U.S., leaving them to cope with a patchwork of do’s and don’ts.

On this episode of Bloomberg Tax's weekly podcast, Talking Tax, host Amanda Iacone talks with IAASB Chair Tom Seidenstein. Tom explains how the IAASB developed its new auditing standards with the input of its US counterpart and why the standards should help shape a similar project in the US.

Listen to Tom's interview

In an article for the Institute of Chartered Accountants of India, IAASB Chair Tom Seidenstein addresses COVID-19 and its devestating global challenge. The pandemic has taken and will take far too many lives and put extraordinary pressures on society in general. It has also greatly affected markets, business, and organizations, and the financial and external reporting ecosystem.

Read Tom's article (p. 42)

IAASB Chair Tom Seidenstein, who began his three-year term last July, spoke with The Wall Street Journal's CFO Journal about emerging audit issues and coordinating with other standard setters. Read more on The Wall Street Journal's website (subscription requried).

Read Tom's interview