IAASB Seeks Feedback On Standard-Setting Activities to Enhance Audit Quality
Dec 17, 2015
On December 17, 2015, the International Auditing and Assurance Standards Board (IAASB) released an Invitation to Comment, Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control and Group Audits (the ITC). This ITC highlights the board’s discussions in these three topic areas and indicates potential standard-setting activities that could enhance audit quality.
The IAASB released a companion document, Overview of the ITC, which summarizes the key areas the IAASB is exploring and the direction it may take.
The IAASB’s Framework for Audit Quality, issued in 2014, explains the important role of auditors and their firms—as well as other stakeholders—in audit quality, and the contextual factors that affect it. It is an important reference document for this consultation.
Download the Invitation to Comment from the IAASB's Web site.
