IAASB and IESBA Boards embrace the conclusions of the Monitoring Group review
Jul 14, 2020
On July 14, 2020, the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) each released statements welcoming the Monitoring Group’s recently released Paper: Strengthening the International Audit and Ethics Standard-Setting System, which is aimed at enhancing governance arrangements of these two standard-setting boards.
The purpose of the Paper is to present the Monitoring Group’s recommendations to strengthen the International audit-related standard-setting system, including the Public Interest Framework, so that the future development and oversight of international audit-related standards can be more responsive to the public interest. The enhancements reflected in the Monitoring Group’s Paper are intended to support the core mission of the two Boards to promulgate high quality international audit, assurance, related services and ethics standards for the accountancy profession, for worldwide application and developed in the public interest.
Review the press release and the Monitoring Group’s Paper on the IAASB’s website.