The International Auditing and Assurance Standards Board (IAASB) has introduced new channels for stakeholders to comment on proposed changes to audit evidence and audit risk response standards.
The proposals cover revisions to ISA 330, The Auditor’s Responses to Assessed Risks; ISA 500, Audit Evidence; and ISA 520, Analytical Procedures.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
A User Consultation Survey has been launched to allow users of financial statements to provide views on selected elements of the proposals without responding to the entire consultation.
The survey is aimed at investors, analysts, lenders, other creditors, and other users who depend on audited financial statements when making resource-allocation decisions.
The IAASB is seeking feedback on four areas including technology-related enhancements and the assessment of the relevance and reliability of information intended for use as audit evidence.
It also requests views on classes of transactions, account balances and disclosures that “are material but not significant”.
In addition, the board is seeking users’ views on the threshold used to assess differences from an auditor’s expectations when substantive analytical procedures are designed and carried out.
The survey will remain open until 15 December 2026, the same deadline for public comments on the exposure drafts.
Separately, the IAASB will run a two-part global webinar series for interested stakeholders.
The webinars will provide an overview of the proposals and support stakeholders preparing formal responses or seeking clarification on specific issues.
Additionally, IAASB specialists will be available to answer questions during Q&A sessions.
