News and Publications

Executing the Board’s Governance Responsibility for Integrated Reporting

Executing the Board’s Governance Responsibility for Integrated Reporting

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Boards of directors need to oversee multiple internal assurance activities across organizations in discharging their responsibilities for the integrity of integrated reporting.  A key feature of integrated reporting is the board of directors’ responsibility for the integrity of the integrated report and underling reporting process.  Executing the Board’s Governance Responsibility for Integrated Reporting is the…
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Key Takeaways from IAASB’s Third Conference on the Audits of Financial Statements Less Complex Entities

Key Takeaways from IAASB’s Third Conference on the Audits of Financial Statements Less Complex Entities

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At the beginning of May 2022, the International Auditing and Assurance Standards Board held the third and final Paris conference in collaboration with the Compagnie Nationale des Commissaires aux Comptes (CNCC) and Conseil Supérieur de l'Ordre des Experts-Comptables (CNOEC) to discuss and explore how to move forward in progressing the separate standard for audits of…
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Benchmarking International Independence Standards

Benchmarking International Independence Standards

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The staff of the International Ethics Standards Board for Accountants’ (IESBA) has completed a study comparing the provisions of International Code of Ethics for Professional Accountants (including International Independence Standards) — in particular the independence provisions applicable to audits of financial statements of public interest entities (PIEs)—with the relevant rules of the U.S. Securities and Exchange Commission (SEC)…
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Non-Authoritative Guidance: The Fraud Lens – Interactions Between ISA 240 and Other ISAs

Non-Authoritative Guidance: The Fraud Lens – Interactions Between ISA 240 and Other ISAs

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This non-authoritative guidance illustrates the relationship between International Standard on Auditing (ISA) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, and other ISAs when planning and performing an audit engagement and reporting thereon. It also illustrates how ISA 240 is currently applied in conjunction with the full suite of ISAs.
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IPSAS 44, Non-current Assets Held for Sale and Discontinued Operations

IPSAS 44, Non-current Assets Held for Sale and Discontinued Operations

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The International Public Sector Accounting Standards Board® (IPSASB®) has issued International Public Sector Accounting Standard® (IPSAS®) 44, Non-current Assets Held for Sale and Discontinued Operations. IPSAS 44 is based on International Financial Reporting Standard (IFRS®) 5, Non-current Assets Held for Sale and Discontinued Operations, developed by the International Accounting Standards Board (IASB®). IPSAS 44 specifies the accounting…
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ISA 220 (Revised): Definition of an Engagement Team Fact sheet

ISA 220 (Revised): Definition of an Engagement Team Fact sheet

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To help users adapt to the clarified and updated definition of “engagement team”, this fact sheet addresses the clarified definition and its possible impacts, including recognition that engagement teams may be organized in a variety of ways, including across different locations or by the activity they are performing. The fact sheet also includes a diagram…
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Anti-Money Laundering, The Basics, Installment 9 – Tools to Fight Back

Anti-Money Laundering, The Basics, Installment 9 – Tools to Fight Back

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This is the ninth installment in the Anti-Money Laundering, The Basics series. The series provides professional accountants with a better understanding of how money laundering works, the risks they face, and what they can do to mitigate these risks and make a positive contribution to the public interest.  To be globally relevant, the series uses the risk-based…
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Audit Fees Survey 2022

Audit Fees Survey 2022

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How much does audit cost? How does this compare to the fees companies pay for other professional services provided by statutory auditors? These questions are the starting point for this report. But when talking about listed companies in different jurisdictions and of all sizes, absolute figures may not shed meaningful comparative insight. Accordingly, the purpose…
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Final Pronouncement: Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code

Final Pronouncement: Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code

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The revised provisions include an expanded definition of “public interest entity” (PIE) in the Code by specifying a broader list of PIE categories, including a new category “publicly traded entity” to replace the category “listed entity.” The revised provisions also recognize the essential role local bodies responsible for the adoption of the Code play in…
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