2022-2023 IAASB Work Plan Approved Pending PIOB Approval
Jan 11, 2022
On January 11, 2022, the International Auditing and Assurance Standards Board (IAASB) approved a new work plan, "A Public Interest Focus in Uncertain Times", during its December 2021 meeting. Pending approval by the Public Interest Oversight Board (PIOB), anticipated in early April 2022, the work plan will guide the IAASB’s work in 2022 and 2023, reflecting the IAASB Strategy for 2020-2023.
Sustainability and environmental, social, and governance (ESG) assurance are a prominent addition to the new work plan and will see increased time and resourcing for 2022–2023. In addition, the new work plan highlights candidate topics in the Audit and Review space (e.g., responding to assessed risks of material misstatement and the impact of technology on various standards) that the IAASB will consider for a further project to commence in 2023. A key focus will remain the progression and completion of projects underway at the start of 2022, including audits of financial statements of less complex entities, audit evidence, going concern, and fraud.
Review the press release and new work plan on the IAASB's website.
