This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IAASB Proposes Limited Changes to Auditing Standards in Response to the IESBA’s Project Addressing Non-Compliance with Laws and Regulations

  • IAASB - Assurance Image

Jul 23, 2015

On July 23, 2015, the International Auditing and Assurance Standards Board (IAASB) released an Exposure Draft "Proposed Amendments to the IAASB’s International Standards—Responding to Non-Compliance or Suspected Non-Compliance with Laws and Regulations", to propose limited amendments to the IAASB’s International Standards in response to the International Ethics Standards Board for Accountants (IESBA’s) May 2015 Re-Exposure Draft, Responding to Non-Compliance with Laws and Regulations.

The focus of the Exposure Draft is proposed amendments to International Standard on Auditing (ISA) 250, Consideration of Laws and Regulations in an Audit of Financial Statements, with less extensive changes proposed to seven other standards. The amendments, which are limited in nature, do not explicitly duplicate in detail all the specific requirements in the IESBA Code of Ethics for Professional Accountants (the Code), as this allows for flexibility when ethical codes other than the Code are applied. Rather, the IAASB’s proposals seek to acknowledge the enhancements that will be made by the IESBA in the Code and clarify and emphasize key aspects of the IESBA’s proposals in the IAASB’s International Standards.

The IAASB’s Exposure Draft is open for comment through October 21, 2015.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.