IAASB seeks public comment on exposure draft aligning existing standards with new, revised quality management standards
Feb 22, 2021
On February 22, 2021, the International Auditing and Assurance Standards Board (IAASB) issued an Exposure Draft addressing changes in some of its standards and framework resulting from the new and revised quality management standards. Comments are requested by May 24, 2021.
The Exposure Draft aligns the IAASB’s standards related to review, assurance and related services, as well as its framework, with the quality management standards through conforming amendments. This will ensure that the IAASB's international standards continue to be applied as intended. The proposed changes will also modify IAASB standards to reflect aspects of the new quality management approach and emphasize the importance of firm-level quality management to consistent quality engagements.
Review the press release and exposure draft on the IAASB's website.
