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Tom Seidenstein speech: A time to rise collectively to the challenge and restore confidence

  • IAASB - Assurance Image

Apr 14, 2020

On April 14, 2020, the International Auditing and Assurance Standards Board (IAASB) released a speech by Tom Seidenstein, IAASB Chair, on the impact of the COVID-19 pandemic on reporting and assurance.

His speech focused on three areas:

  • working together on both national and international levels, standard-setters, regulators, accounting and audit practitioners, preparers, and other stakeholders can make a meaningful difference in helping the economy get back on its feet;
  • the IAASB stands ready to support the public interest and the external reporting community. We will create targeted guidance, where appropriate, adapt our ways of working to be flexible to rapidly changing circumstances, and coordinate with key parties; and
  • a few areas of our standards merit special consideration by the profession. These include going concern, auditor reporting, and auditing estimates.

Review the full speech on the IAASB's website.

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