Enhancing Audit Quality Anchors Two Year IAASB Work Plan

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Feb 22, 2017

On February 22, 2017, the International Auditing and Assurance Standards Board (IAASB) released its Work Plan for 2017–2018 following a public consultation with stakeholders.

The Work Plan for 2017-2018 is guided by the three underlying strategic objectives set in the five-year Strategy: (i) a continued focus on International Standards on Auditing (ISAs) as the basis for high-quality audits; (ii) the importance of the IAASB’s standards for other services to address emerging needs of stakeholders; and (iii) the board’s intention to strengthen collaboration with others to address public interest matters relevant to its work.

“The IAASB’s strategic objectives contribute to enhancing audit quality. The intent is for the audit standards and guidance being developed to further enhance that quality and to uphold the trust placed in audits and auditors,” noted Prof. Arnold Schilder, IAASB Chairman. “Respondents to the consultation stressed the importance of addressing key topics that contribute to high-quality audits in a changing business environment, influenced by technology, complexity, and demands for continued relevance of the audit.”

For further details, refer to the IAASB’s press release.

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