Key takeaways from IAASB’s roundtable series on Fraud and Going Concern
Nov 17, 2020
On November 17, 2020, the International Auditing and Assurance Standards Board (IAASB) released a key takeaways publication following three recent virtual roundtables with experts and leaders exploring issues and challenges related to fraud and going concern.
These roundtables focused on:
- The impact of technology advancements on fraud perpetration and detection;
- The “expectation gap”, or differences between public perceptions and the auditor’s responsibilities for fraud and going concern; and
- Fraud and going concern in audits of less complex entities.
Today’s publication details the roundtables and what we heard. The input from these roundtables comprise one aspect of the IAASB’s broader information-gathering activities related to fraud and going concern that will be considered in determining possible future actions.
The full roundtable recordings, including individual breakout sessions, are available on the IAASB’s YouTube channel:
- Fraud Technology Roundtable
- Expectation Gap Roundtable
- Fraud and Going Concern Procedures in Less Complex Entities Roundtable
Review the press release and key takeaways on the IAASB's website.
