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AASB Decision Summary – Auditor Reporting

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Oct 03, 2016

On October 3, 2016, the Auditing and Assurance Standards Board (AASB) released an update of its discussions and decisions on the auditor reporting standard at its September 12-13, 2016 meeting.

The AASB discussed issues related to the adoption of ISAs on auditor reporting, as well as views raised by AASOC members at its July 2016 meeting, including:

  • the scoping, and effective dates for the implementation of key audit matters reporting;
  • whether early application should be allowed and, if so, the implications;
  • how to support successful implementation of the standards;
  • timelines for issuance of the standards and related materials to support their implementation; and
  • key messages to highlight in a message from the Chair.

The AASB will continue to discuss these and other issues at its October 2016 meeting. The AASB Chair intends to issue a message to update stakeholders with more details on the progress of this project in late 2016.

Review the summary on the AASB's website.

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