The proposed revisions represent the first comprehensive review of the standard since its issuance in 2005. These proposed revisions reflect changes in the global environment and improvements to the audit and assurance model made over the last two decades.
“Interim financial information, such as quarterly and semi-annual reporting, plays an important role for investors,” said IAASB Chair Tom Seidenstein. “These proposals seek to reinforce confidence in interim review engagements by clarifying expectations, strengthening consistency in practice, and improving communication to users.”
Key proposals include a clearer articulation of what an interim review engagement is and how it differs from a financial statement audit. They also include enhanced requirements in areas of high public interest, such as going concern, fraud, and non-compliance with laws and regulations (NOCLAR). Investors and other users will also benefit from improved transparency in the auditor’s interim review report. Additional enhancements include requirements related to engagement-level quality management, determining materiality for planning and performing an engagement, and group interim review engagements.
The IAASB coordinated closely with the International Ethics Standards Board for Accountants (IESBA) in developing these proposals to align the standard and ethics considerations for interim review engagements. The consultation also seeks stakeholder input on two matters related to the application of the IESBA Code of Ethics to interim review engagements.
The IAASB encourages stakeholders to review the proposals carefully and provide their views using the Response Form available on the IAASB website. Stakeholder feedback through this public consultation will help ensure the revised standard is clear, practical, and globally operable.
The International Federation of Accountants (IFAC) and South African Institute of Chartered Accountants (SAICA) are thrilled to announce the World Congress of Accountants (WCOA) will be held in Cape Town, South Africa in November 2028. Recognized as the accountancy profession’s premier global gathering, WCOA is a bi-annual event that brings together representatives of the profession from jurisdictions around the world to strengthen the accountancy community through shared learning, collaboration, and relationship-building.
This announcement represents a monumental achievement for the South African accountancy profession, marking the first time in WCOA’s 124-year history that the flagship event for the profession will be held on the African continent. Hosting the Congress in Cape Town positions South Africa as a key enabler of Africa’s global innovation, connectedness and resilience.
News of SAICA’s co-hosting comes as the profession prepares to convene in Seoul, South Korea for the 2026 World Congress of Accountants this November. Like the 2026 Congress, WCOA 2028 will be scheduled alongside IFAC’s Annual Council Meeting. In-person attendees will experience plenary sessions, expert panels, and networking opportunities designed to foster collaboration and knowledge exchange across sectors. Participants will include IFAC Professional Accountancy Organization (PAO) leadership, professional services firms, standard-setters, regulators, government officials, multilateral and development agencies, and representatives from the business and investor communities.
Lee White, IFAC Chief Executive Officer, said: "Cape Town is a dynamic, diverse, and globally connected city, an outstanding choice for WCOA 2028. This Congress will spotlight the accountancy profession’s role in driving trust, sustainability, and innovation in an increasingly complex world. We are honored to partner with SAICA to create an event that inspires our profession and equips our society for a better future”.
"Securing WCOA 2028 is both a validation of our standing as a professional body deeply committed to serving the public interest, and a powerful affirmation of South Africa's appeal as a premier destination for global business, tourism, and investment,” said Patricia Stock, SAICA Chief Executive Officer. "Our CA(SA) designation was recently voted the #1 most trusted designation by renowned research body, Edelman DxI in 2025, following similar success in 2023. Hosting this congress allows us to leverage trust to drive conversations on transparency, ethical leadership, and the role of the profession in building resilient economies. This is a win not just for SAICA, but for the entire African continent as we lead the global profession into a sustainable and ethical future.”
About IFAC
IFAC, by connecting and uniting its members, makes the accountancy profession truly global.
IFAC member organizations are champions of integrity and professional quality and proudly carry their membership as a badge of international recognition.
IFAC and its members work together with the Forum of Firms and other key stakeholders to shape the future of the profession through learning, innovation, a collective voice, and commitment to the public interest.
About SAICA
The South African Institute of Chartered Accountants (SAICA), South Africa’s pre-eminent accountancy body, is recognised as the world’s leading accounting institute and is home to the leading CA designation in the world. The Institute provides a wide range of support services to more than 60 000 members and associates who are chartered accountants (CAs[SA]), as well as associate general accountants (AGAs[SA]) and accounting technicians (ATs[SA]), who hold positions as CEOs, MDs, board directors, business owners, chief financial officers, auditors and leaders in every sphere of commerce and industry, and who play a significant role in the nation’s highly dynamic business sector and economic development.
SAICA is a member of Chartered Accountants Worldwide (CAW), a global family that connects over 1,8 million fellow Chartered Accountants and students in more than 190 countries. Together, we support, develop, and promote the role of Chartered Accountants as trusted business leaders, difference makers, and advisers.
Review of Interim Financial Information Performed by the Independent Auditor of the Entity’s Annual Financial Statements
The proposed revisions to ISRE 2410 reflect changes in the global environment and improvements to the audit and assurance model made over the last two decades.
