The International Auditing and Assurance
Standards Board (IAASB) has proposed new guidance for auditors
dealing with complex financial instruments.
International Auditing Practice Statement
(IAPS) 1000 – Special Considerations in Auditing Complex
Financial Instruments seeks to emphasise auditing considerations
relating to fair value estimates and valuation, and disclosure
The IAASB is also seeking comment on
proposed changes to Preface to the International Standards on
Quality Control, Auditing, Review, Other Assurance and Related
Services. This proposal aims to provide a common
understanding of how practice statements are used.
The IAASB is looking to finalise IAPS 1000 in