News and Publications

ISA 540 (REVISED) IMPLEMENTATION SUPPORT: AUDIT CLIENT BRIEFING

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CONSIDERATIONS FOR MANAGEMENT WHEN DETERMINING ACCOUNTING ESTIMATES AND RELATED DISCLOSURES The International Standard on Auditing (ISA) 540 (Revised) Implementation Working Group has prepared an Audit Client Briefing (Briefing) based on the Canadian Auditing Standard (CAS) Audit Client Briefing of the Chartered Professional Accountants of Canada (CPA Canada), published in October 2019 and is used with…
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Audit Fees Survey: An Analysis of Audit Fees as a Percentage of Corporate Revenue

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Understanding the cost of audit is crucial to the ongoing global discussions about audit quality. The purpose of this analysis is to quantify audit fees as a percentage of corporate revenue in various North American and European jurisdiction from 2013 to 2018. This report breaks down audit fee data by population, jurisdiction, company size, market…
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ISA 315 (Revised 2019): Identifying and Assessing the Risks of Material Misstatement

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ISA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement, has been revised to include a more robust and consistent risk identification and assessment. The revised standard sets out clarified and enhanced requirements, and enhanced application material, to support the auditor’s risk assessment process, intended to support more focused responses to the auditor’s…
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IAASB Feedback Statement and way forward – Audits of Less Complex Entities

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Recognizing the need to keep its stakeholders informed of its progress in relation to audits of Less Complex Entities (LCEs), the IAASB published a Feedback Statement that provides an overview of the key messages from the responses to the IAASB’s Discussion Paper (DP), Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges…
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IASB proposes new standard on general presentation and disclosures in financial statements

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The International Accounting Standards Board (IASB) has published the exposure draft of a new standard 'General Presentation and Disclosures' that is intended to replace IAS 1 'Presentation of Financial Statements'. Comments are requested by 30 June 2020.
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2019 Handbook of International Education Standards

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The 2019 Education Handbook contains the IAESB’s suite of International Education Standards (IES) 1-8. The handbook's organization focuses on supporting the IESs, which present the underlying principles, concepts, and definitions that enhance accountancy education. More specifically, this handbook includes the Framework for International Education Standards for current and aspiring professional accountants, the IAESB Glossary of…
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IFRS Foundation issues guide on accounting policies

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The IFRS Foundation has issued, ‘Guide to Selecting and Applying Accounting Policies — IAS 8’.
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IASB releases podcast on IFRS 17

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The IASB has released a podcast featuring IASB members Darrel Scott and Nick Anderson as well as technical staff member Roberta Ravelli as they discuss the developments at the November 2019 Board meeting related to the amendment IFRS 17 'Insurance Contracts'.
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