At its meeting on March 16-20, 2020, the IAASB discussed a draft of proposed ISA 220 (Revised). The IAASB discussed the guidance on the engagement team and how the requirements between those that are the sole responsibility of the engagement partner and those which the engagement partner is permitted to assign to another engagement team member are distinguished. The IAASB also discussed a illustrative example that was prepared by the Task Force to show that the proposed requirements are appropriate for larger, more complex engagements. The ISA 220 Task Force will consider the comments received and will present revised proposals via videoconference on April 1, 2020.

Review the summary, including the podcast, on the IAASB's Web site.