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the IESBA will hold four global roundtables to obtain input that will help shape the development of new ethics and independence standards for sustainability reporting and assurance. The objective of the IESBA’s global sustainability roundtables is to obtain stakeholders’ input to key ethics and independence issues relating to sustainability reporting and assurance as well as the…
IFAC welcomes this comprehensive review of IFRS for small- and medium-sized enterprises (SMEs). In principle, we support alignment of IFRS for SMEs with full IFRS Standards. As a basic standard-setting principle we believe the concepts that underpin IFRS and IFRS for SMEs should be the same, notwithstanding that their application may need to be modified…
These revisions to the Code Relating to the Definition of Engagement Team and Group Audits address holistically the various independence considerations in an audit of group financial statements. The revisions also deal with the independence and other implications of the changes made to the definition of an engagement team in the Code to align with changes…
This non-authoritative Frequently Asked Questions publication addresses some of the common questions related to reporting going concern matters in the auditor’s report. Specifically, the publication focuses on the use of and interrelationship of the Material Uncertainty Related to Going Concern and Key Audit Matters sections, and the Emphasis of Matter paragraphs, in an auditor’s report…
The State of Play in Reporting and Assurance of Sustainability Information: Update 2019-2020 Data & Analysis is designed to update understanding (based on 2020 reporting) of market practice for the assurance of environmental, social, and governance (ESG or sustainability) information, globally. This report is an update to the The State of Play in Sustainability Assurance report…
This guide focuses on the more substantial changes that were made to International Standard on Auditing 315 (Revised 2019) and will help stakeholders understand and apply the revised standard as intended. ISA 315 (Revised 2019) is effective for audits of financial statements for periods beginning on or after December 15, 2021. This publication does not…
This Technology Matrix is a quick guide to help stakeholders understand and access the breadth of technology resources available. Featuring content from June 2020-June 2022, the matrix categorized resources using technology ABCs: A: Artificial Intelligence B: Blockchain C: Cyber-security D: Data Governance (& Valuing Data) E: Ethics Other Tech Content (i.e., content not falling within A, B,…
The focus on auditor’s reports has increased in the current environment as investors and other users of financial statements seek greater transparency from entities around the impacts of Covid-19 in the financial statements, as well as greater transparency into the audit. Covid-19 may result in a rise in modifications to the auditor’s opinion, or have…
To deliver useful information for internal decision-making, as well as for comprehensive, trustworthy corporate reporting, businesses can break down functional and information silos with an integrated mindset, bringing together information from corporate functions and external sources about sustainability impacts and related opportunities and risks that are relevant to the value creation process. To help meet…
The International Federation of Accountants (IFAC) works with our valued member organizations, network partners, and others to facilitate the translation of content, including standards and supporting materials from the standard-setting boards, IAASB, IESBA, and IPSASB, in almost 50 languages. In 2021, with the help of 36 different organizations, we developed 159 translations in 24 different languages. In this publication, learn…