News and Publications

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…

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…

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…

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…

Circular thinking has implications on the application of accounting and financial principles, for example, depreciating assets until they have no value does not provide incentives for shifting to circular business models. Accountants need to be able to evaluate decisions beyond the financial value generated. To consider the opportunities and challenges to circular economy adoption, Usha…