This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Proposed international auditing standard on auditing complex financial instruments

  • International Auditing (lt green) Image

14 Oct 2010

The International Auditing and Assurance Standards Board (IAASB) has proposed a new proposed pronouncement – International Auditing Practice Statement (IAPS) 1000 Special Considerations in Auditing Complex Financial Instruments.

The proposed IAPS highlights practical considerations for auditors when dealing with complex financial instruments, giving particular emphasis to auditing considerations relating to valuation and disclosure issues for financial statement items measured at fair value.

Along with the proposed IAPS 1000, the IAASB is also exposing for comment proposed changes to the current Preface to the International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services, which explains the authority of this and future IAPSs.

Click here for IAASB Press Release (IFAC website), which includes a link to download the proposal. Comments are due by 11 February 2011.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.