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April 7, 2017

PIOB approves extension of IAASB chairman’s term

By Stephanie Wix

Professor Arnold Schilder has had his term extended through 2018 as the chairman of the International Auditing and Assurance Standards Board (IAASB), with the approval of the Public Interest Oversight Board (PIOB).

The extension beyond the normal term is due to the current review of enhancements of international standards arrangements by key stakeholders.

Schilder was initially appointed in 2009, he said "I am honoured to have the opportunity to continue to lead the IAASB, particularly at this time. We are now in the midst of intense deliberations on changes to a number of fundamental standards underpinning high-quality audits, including those addressing accounting estimates, auditor risk assessments, group audits, and quality control. In addition, we are continuing our work on the implications of data analytics, professional scepticism, emerging forms of external reporting, and the needs of small- and medium-sized entities."

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