IAASB proposes revised auditing standard on going concern
The International Auditing and Assurance Standards Board (IAASB) issued proposed revisions to its current standard, International Standard on Auditing (ISA) 570, Going Concern.
The IAASB invites all stakeholders to comment on the consultation until 24 August 2023. Accountancy Europe will be responding to this consultation.
Accountancy Europe responds to IAASB’s consultation on less complex groups
The IAASB proposed a group audit-specific section to its draft auditing standard for less complex entities (LCEs).
Our response invites IAASB to finalise the standard as soon as possible and to reconsider the prohibitions on the use of the standard.
Accountancy Europe responds to IAASB’s consultation on audit evidence
The IAASB issued a public consultation on proposed changes to the International Standard on Auditing (ISA) 500, Audit Evidence.
We believe that the project has not fully achieved its public interest objectives, particularly regarding technology.
Our comment letter calls for clarification on the expected changes from auditors in practice and notes the risk of over-documentation due to extensive application material.
IESBA releases PIE definition database
The International Ethics Standards Board for Accountants (IESBA) has developed the database of Public Interest Entity (PIE) definitions by jurisdictions as a resource to assist regulators, national standard setters, and other relevant bodies in developing or revising their definitions of PIE at the local level based on the IESBA’s PIE definition. It covers 78 jurisdictions in the Americas, Europe, Africa, Asia and Oceania.
Accountancy Europe responds to IESBA’s consultation on tax planning and ethics
The IESBA proposed two new sections to its Code of Ethics addressing tax planning and related services.
We believe the proposals strengthen the ethical expectations for professional accountants in business and public practice when performing tax planning activities for employing organisations or providing tax planning services to clients, respectively.
Our response provides constructive recommendations on how to clarify some of the requirements proposed.