Comment deadline: IAASB Exposure Draft, “ISA 240 (Revised), The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements”
IAASB Request for comments
IAASB Exposure Draft, “ISA 240 (Revised), The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements”
the IAASB proposed a significant strengthening of its standard on auditors’ responsibilities relating to fraud, with a 120-day consultation period. The proposed revisions define the expectations in relation to fraud, delineate more robust procedures, and increase transparency about the auditors’ responsibilities and fraud-related procedures in the auditor’s report.