Related Discussions

• Assurance on Integrated Reporting and other EER – AASB

• Sep 09, 2019

• At its meeting on September 9-10, 2019, the AASB discussed its approach to responding to the IAASB’s material on non-authoritative guidance related to Emerging External Reporting, expected to be issued in January 2020. In this regard, the AASB decided to form an Advisory Group to support staff and the Board in reviewing and responding to materials issued by the IAASB. The Advisory Group will help identify key issues related to the evolution of audit in response to environmental changes in Canada.

• Assurance on Integrated Reporting and other EER – IAASB

• Jun 17, 2019

• At its meeting on June 17-21, 2019, the IAASB was updated on the work of the EER Task Force on the challenges allocated to Phase 2 of the project. These challenges include: determining the scope of an EER assurance engagement; obtaining evidence in respect of narrative and future-oriented information; exercising professional skepticism and professional judgment; obtaining the competence necessary to perform the engagement; and communicating effectively in the assurance report. The Board discussed views on the EER Task Force’s initial proposals to address each of these challenges in the Phase 2 guidance. The EER Task Force will consider the inputs received from the Board, together with responses to the Phase 1 EER Consultation Paper in so far as they impact the Phase 2 guidance, in developing the draft Phase 2 guidance, which will be presented for discussion at the September 2019 IAASB meeting.

• Assurance on Integrated Reporting and other EER – IAASB

• Mar 11, 2019

• At its meeting on March 11-15, 2019, the IAASB discussed several challenges related to Phase 2 of the guidance. The challenges include: (i) determining the scope of an EER assurance engagement; (ii) communicating effectively in the assurance report; (iii) exercising professional skepticism and professional judgment; (iv) obtaining the competence necessary to perform the engagement; and (v) obtaining evidence in respect of narrative and future-oriented information. The Board’s deliberations of the challenges concerned were facilitated through breakout sessions, after which each breakout group reported back to the Board in a plenary session. The EER Task Force will consider the inputs that were received in progressing the development of Phase 2 of the guidance for further discussion at the June 2019 IAASB meeting.

• Assurance on Integrated Reporting and other EER – IAASB

• Dec 10, 2018

• At its meeting on December 10-14, 2018, the EER Task Force presented an updated version of the Phase 1 draft guidance, which reflects changes to address feedback received from the IAASB at the September 2018 IAASB meeting, and from other stakeholders, including in relation to a ‘materiality process’ and assertions as they relate to the characteristics of suitable criteria. The Board noted that the draft guidance had significantly improved since discussions at the September 2018 meeting, but that further work on the drafting is required. The Board will discuss a further version on a teleconference in January 2019 before the draft guidance is published for public comment.

• Assurance on Integrated Reporting and other EER – IAASB

• Sep 17, 2018

• At its meeting on September 17-21, 2018, the EER Task Force presented to the IAASB the remaining Phase 1 ‘issues’ that were not presented in June alongside a first draft of the Phase 1 guidance. The Board noted the need for the guidance to demonstrate its full alignment with the requirements of ISAE 3000 (Revised), and for the EER Task Force to provide further explanations about any guidance that goes beyond the requirements and application material in ISAE 3000 (Revised). The EER Task Force expects to receive further input from stakeholders during its forthcoming series of discussion events and will present a revised draft of the guidance to the IAASB in December 2018.

• Assurance on Integrated Reporting and other EER– IAASB

• Jun 18, 2018

• At its meeting on June 18-23, 2018, the IAASB was presented with an issues paper summarizing the work of the Task Force relating to three of the Ten Key Challenges in undertaking assurance engagements over EER. The Board discussed the ‘generalized construct’ of an EER report and its relationship to assurance concepts, before considering issues relating to the challenges of Applying Materiality, Evaluating the Suitability of Criteria, and Building Assertions. The Board expressed broad support for the approach being taken by the Task Force to date and commented on the issues presented. The Board also agreed with the Task Force’s suggestion to publish the non-authoritative guidance in the form of an International Assurance Engagements Practice Note (IAEPN). The remaining challenges allocated to Phase 1 of the project will be presented for discussion in September 2018, along with a first draft of the guidance relating to these challenges.

• Assurance on Integrated Reporting - IAASB

• Mar 12, 2018

• At its meeting on March 12-16, 2018, the IAASB received an update on work completed by the EER Task Force to date. This included understanding the conceptual and contextual background of EER reporting frameworks, as well as discussions to start developing the non-authoritative guidance for applying ISAE 3000 (Revised) in respect of the materiality challenge. The IAASB expressed support for the work completed so far, and provided helpful comments and feedback on the areas presented during the meeting. There was also support for the detailed planning for the project that has been undertaken, as well as for the recently established EER Assurance Project Advisory Panel (PAP). The project will be discussed further in June 2018.

• Assurance on Integrated Reporting - IAASB

• Dec 11, 2017

• At its meeting on December 11-15, 2017, the IAASB received an update on the project. It was noted that the grant agreement with the World Business Council for Sustainable Development (WBCSD) was finalized for the funding of the project and that the Project Proposal and Feedback Statement has been finalized to be published on the IAASB’s website. The Board also received an update on the plan for developing the framework for the non-authoritative guidance for EER during the next year, including the required research to be gathered and the establishment of a Project Advisory Panel

• Assurance on Integrated Reporting - IAASB

• Oct 24, 2017

• At its meeting on October 24-26, 2017, the IAASB approved a Project Proposal to develop non-authoritative guidance to address key challenges, identified by the IAASB, which arise in the performance of assurance engagements over emerging forms of external reporting. The Board noted and supported the proposed resourcing model for the project, which would involve grant funding from the World Business Council for Sustainable Development, and discussed the nature and importance of the arrangements established to secure the independence of the IAASB. The Board also agreed to publish a Feedback Statement setting out a high-level summary of the responses to the Integrated Reporting Working Group’s Discussion Paper: Supporting Credibility and Trust in Emerging Forms of External Reporting-Ten Key Challenges for Assurance Engagements.

• Assurance on Integrated Reporting - IAASB

• Mar 14, 2016

• At its meeting on March 14-18, 2016, the IAASB agreed to move forward with the issuance of a Discussion Paper for public comment by the IRWG and suggested further areas for clarification to the draft that was presented. The Board agreed with the framework-neutral approach that had been taken in the draft, which considers the topic of Integrated Reporting within Emerging Forms of External Reporting (EER), as well as professional services in the broader context of credibility and trust. The Board will consider a revised draft of the Discussion Paper at its June 2016 meeting for issuance by the Working Group thereafter.

• Assurance on Integrated Reporting - IAASB

• Sep 21, 2015

• At its meeting on September 21-25, 2015, the Chair of the IRWG reported to the IAASB on the Working Group’s activities, including the issue of its publication on assurance on Integrated Reporting in July 2016 and the way forward for the IRWG’s activities. The Board expressed broad support for the IRWG’s planned activities for 2016 and raised additional matters for the IRWG to consider in its information-gathering activities towards developing a Discussion Paper to be issued for public comment.