IAASB Fact Sheet Addresses Engagement Team Definition

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May 02, 2022

On May 2, 2022, the International Auditing and Assurance Standards Board (IAASB) released a new fact sheet to help users of its standards adapt to the clarified and updated definition of “engagement team”.

The new fact sheet addresses the clarified definition and its possible impacts, including recognition that engagement teams may be organized in a variety of ways, including across different locations or by the activity they are performing. The fact sheet also includes a diagram that walks users through who specifically is included and excluded.

Review the press release and fact sheet on the IAASB's website.

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