• Upcoming Event: Final IAASB Quality Management Webinar in Collaboration with IFAC

    New York, New York English

    The IAASB in collaboration with IFAC invite you to join the final webinar in our quality management series, Bringing It All Together: Exploring the Components of the Quality Management System, on August 18 from 11 am–12 pm GMT on Zoom with livestreaming on YouTube. The webinar will address aspects of International Standard on Quality Management 1, including governance and leadership, information, communication, and networks.

    ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality control to an integrated quality management approach.

    The webinar will be held in English and available on YouTube following the session. Participants joining live via Zoom will be able to submit questions.

    The recordings from the previous webinars in the series are available on YouTube:

    This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management

    Bringing it all Together: Exploring the Components of the Quality Management System

  • Upcoming Event: IAASB Quality Management Webinar, Resources and Firms’ Monitoring & Remediation Process

    New York, New York English

    The IAASB in collaboration with IFAC invite you to join our upcoming quality management webinars, Resourcing for Quality Management on July 29 from 11 am–12 pm GMT and Your Firm’s Monitoring & Remediation Process on August 5 from 11 am–12 pm GMT. Both webinars will be held on Zoom with livestreaming on IAASB’s YouTube channel.

    ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality control to an integrated quality management approach. These webinars address how firms can resources appropriately and establish monitoring and remediation processes to align with the requirements in International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.

    The webinars will be held in English and available on YouTube following the session. Participants joining live via Zoom will be able to submit questions.

    The recording from the first webinar in this series, Your Firm’s Risk Assessment Process, is available on YouTube. You are also invited to the final webinar in the series:

    Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management

  • Upcoming Event: IAASB Quality Management Webinar, Resources and Firms’ Monitoring & Remediation Process

    New York, New York English

    The IAASB in collaboration with IFAC invite you to join the upcoming quality management webinars, Resourcing for Quality Management on July 29 from 11 am–12 pm GMT and Your Firm’s Monitoring & Remediation Process on August 5 from 11 am–12 pm GMT. Both webinars will be held on Zoom with livestreaming on IAASB’s YouTube channel.

    ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality control to an integrated quality management approach. These webinars address how firms can resources appropriately and establish monitoring and remediation processes to align with the requirements in International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.

    The webinars will be held in English and available on YouTube following the session. Participants joining live via Zoom will be able to submit questions.

    • Webinar Two: Resourcing for Quality Management
      • July 29, 11 am–12 pm GMT
      • Featuring IAASB members Josephine Jackson and Sue Almond and Deputy Director Natalie Klonaridis
      • Discussion will include references to the requirements of International Standard on Auditing 220, Quality Management for an Audit of Financial Statements
      •  Register Now
    • Webinar Three: Your Firm’s Monitoring & Remediation Process

    The recording from the first webinar in this series, Your Firm’s Risk Assessment Process, is available on YouTube. You are also invited to the final webinar in the series:

    Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management

    IFAC is committed to supporting our member organizations and the development, adoption, and implementation of high-quality international standards.

  • New Quality Management Implementation Guides Now Available

    New York, New York English

    The International Auditing and Assurance Standards Board (IAASB) today released two guides to help stakeholders implement its suite of quality management standards. The guides will help stakeholders understand the standards and properly implement the requirements in the manner intended:

    The IAASB will also issue an implementation guide for International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements, in Q3. The suite of quality management standards come into effect on December 15, 2022.     

    These publications do not amend or override the International Standards on Quality Management (ISQMs), the texts of which alone are authoritative. Reading the publications are not a substitute for reading the ISQMs.

    The IAASB encourages all practitioners to plan early for appropriate implementation, given the potential impact of the changes to firms’ systems of quality management.

    Guides Provide a Pathway to a Robust, Effective Quality Management System

  • Newly Published Stakeholder Feedback Indicates Broad Support for IAASB Auditor Reporting Standards

    New York, New York English

    In 2015, the International Auditing and Assurance Standards Board (IAASB) released new auditor reporting standards to enhance the communicative value, transparency and relevance of the auditor’s report in the public interest. Today, the IAASB published a feedback statement after a public consultation. Stakeholders expressed broad support for the standards, and the resulting auditor’s report, and indicated that the standards have met the IAASB’s objectives.

    The stakeholder feedback statement summarizes key themes and views shared with the IAASB through the 2020 Auditor Reporting Post-Implementation Survey as well as a roundtable discussion held in September 2020. The survey, roundtable, and related outreach solicited perspectives on implementation and specific aspects of the revised auditor reporting standards. Three of the key areas of focus for stakeholders were key audit matters, going concern and other information in the auditor’s report. The IAASB’s Auditor Reporting Implementation Working Group is considering the feedback in developing its post-implementation review recommendations for the IAASB’s consideration in September 2021.

  • Upcoming Events: IAASB Quality Management Webinar Series in Collaboration with IFAC

    New York, New York English

    The IAASB in collaboration with IFAC invite you to join our quality management webinar series on June 24, July 29, and August 5 and 18 on Zoom with livestreaming on the IAASB’s YouTube channel. The webinars will take a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.

    ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality control to an integrated quality management approach.

    The webinars will be held in English and will be available on the IAASB’s YouTube Channel following the session. Participants joining live via Zoom will be able to submit questions.

    • Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
      • June 24, 11 am–12 pm GMT
      • Featuring IAASB members Julie Corden and Chun Wee Chiew and IAASB Deputy Director Natalie Klonaridis
      • Register Now
    • Webinar Two: Resources: Expectations for Firms and Engagement Partners
      • July 29, 11 am–12 pm GMT
      • Featuring IAASB members Josephine Jackson and Sue Almond and IAASB Deputy Director Natalie Klonaridis
      • Discussion will include the linkage between ISQM 1 and  International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements
      • Register Now
    • Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes
      • August 5, 11 am–12 pm GMT
      • Featuring IAASB member Chun Wee Chiew,  IAASB technical advisor Denise Weber, and IAASB Deputy Director Natalie Klonaridis
      • Register Now
    • Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System
      • August 18, 11 am–12 pm GMT
      • Featuring IAASB members Julie Corden and Sachiko Kai and IAASB Deputy Director Natalie Klonaridis
      • Register Now

    This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management

    IFAC is committed to supporting our member organizations and the development, adoption, and implementation of high-quality international standards.

    A Deep Dive into International Standard on Quality Management 1

  • Upcoming Events: IAASB Quality Management Webinar Series in Collaboration with IFAC

    New York, New York English

    The IAASB in collaboration with IFAC invite you to join our quality management webinar series on June 24, July 29, and August 5 and 18 on Zoom with livestreaming on the IAASB’s YouTube channel. The webinars will take a deep dive into aspects of the IAASB’s International Standard on Quality Management 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements.

    ISQM 1 is part of the IAASB’s suite of quality management standards, issued in late 2020. The standards strengthen and modernize how firms approach quality management. They also mark an evolution from a traditional, more linear approach for quality control to an integrated quality management approach.

    The webinars will be held in English and will be available on the IAASB’s YouTube Channel following the session. Participants joining live via Zoom will be able to submit questions.

    • Webinar One: All You Need to Know about the Firm’s Risk Assessment Process
    • Webinar Two: Resources: Expectations for Firms and Engagement Partners
      • July 29, 11 am–12 pm GMT
      • Featuring IAASB members Josephine Jackson and Sue Almond and IAASB Deputy Director Natalie Klonaridis
      • Discussion will include the linkage between ISQM 1 and  International Standard on Auditing 220 (Revised), Quality Management for an Audit of Financial Statements
      • Register Now
    • Webinar Three: What’s New for Firms’ Monitoring and Remediation Processes
    • Webinar Four: Bringing it All Together: Exploring all the Components of a Quality Management System

    This webinar series is part of the IAASB’s implementation support efforts. Looking for additional resources on the suite of quality management standards? Check out the IAASB’s dedicated web page: iaasb.org/quality-management

    A Deep Dive into International Standard on Quality Management 1

  • IFAC and the International Bar Association to Cohost Virtual Event on Fighting Corruption

    New York, NY English

    On Tuesday, June 1 at 9 AM EDT, as part of the United Nations Special Session of the General Assembly Against Corruption (#UNGASS), the International Federation of Accountants (IFAC) and the International Bar Association (IBA) will be co-hosting the event Independent Professions Fighting Corruption, a live virtual roundtable discussion about how the legal and accountancy professions fight corruption and promote the rule of law.

    The global legal and accountancy professions are vital allies in the fight against corruption, in every country around the world.  In this live event, distinguished leaders from both professions will discuss how their professions contribute to the fight, with a focus on ethics and independence.  While the “professional enablers” narrative has attracted significant attention recently, this event looks to highlight the important role the professions play as allies, as well as to strengthen the dialogue with key stakeholders and enhancing the professions’ contributions as committed partners. 

    Panelists include:

    • Srinivas Gurazada, Head of Public Expenditure and Financial Accountability (PEFA) Initiative Secretariat
    • Leopoldo Pagotto, Co-Chair, IBA Anti-Corruption Committee
    • Stephen Revell, Freshfields Bruckhaus Derringer and co-vice chair of the IBA Law Firm Management Committee
    • Dr. Stavros Thomadakis, Chair, International Ethics Standards Board for Accountants (IESBA)
    • Co-Moderator, Sara Carnegie, Director of Legal Projects, IBA
    • Co-Moderator, Scott Hanson, Director of Public Policy & Regulation, IFAC

    Join the webinar on Tuesday, June 1, at 9:00 AM EDT here.

    June 1st event part of the UN General Assembly Special Session Against Corruption

  • Help Shape the IAASB’s Future Work

    New York, New York English

    The International Auditing and Assurance Standards Board (IAASB) today issued a survey on its Work Plan for 2022–2023. Guided by its strategic objectives for 2020-2023, the IAASB’s current—and future—work is tailored to serve the public interest. The survey is designed to help the IAASB develop its Work Plan for 2022–2023 through understanding what is important to its stakeholders.

    The survey asks respondents for their views on the IAASB’s ongoing projects and possible future topic priorities. It will be open until Thursday, August 5, 2021. Respondents must submit their views using our survey online tool.

    To help stakeholders thoughtfully consider and respond, and conduct any appropriate outreach to consolidate feedback, a Word version of the survey is available on the IAASB website to share questions and prepare responses. The IAASB and this work plan survey will benefit from the new Framework for Activities, developed to provide clearer criteria and increased transparency for project selection and prioritization.

  • IAASB Issues Revised Detailed Work Plan for Remainder of 2021

    New York, New York English

    After consultations with the Public Interest Oversight Board, the International Auditing and Assurance Standards Board (IAASB) has published a revised detailed work plan that supersedes the work plan published on February 1, 2021.

    The IAASB revised the work plan to account for the continued impact of the COVID-19 pandemic on both board operations and stakeholders’ capacity to implement new standards and participate in the IAASB’s due process. Facing the reality of reduced plenary time resulting from remote plenary meetings throughout the remainder of the calendar year, the IAASB is prioritizing the on-time completion of two significant public interest documents—the finalization of ISA 600 (Revised) on Group Audits (expected after the December 2021 IAASB meeting) and a proposed standard for Audits of Financial Statements of Less Complex Entities for public consultation (expected after the June 2021 IAASB meeting).

    Other updates include that the IAASB will now discuss project proposals for Fraud and Going Concern in September 2021 and March 2022, respectively. The shift in the dates of the project proposals should not materially impact the work timelines for those two projects. The revised work plan also includes an exposure draft for ISA 500 (Audit Evidence) in September 2022.

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