IAASB releases its 2015-2019 strategy and 2015-2016 work plan
22 Dec, 2014
The International Auditing and Assurance Standards Board (IAASB) has released its strategy for the five year period 2015-2019 and work programme for the 2015-2016 period designed to "illustrate the IAASB’s commitment to strengthening public confidence in financial reporting and contributing to the ongoing relevance of the financial statement audit".
The board's five-year Strategy is underpinned by three strategic objectives:
- Develop and maintain high-quality International Standards on Auditing (ISAs) that are accepted as the basis for high-quality financial statement audits.
- Ensure the IAASB’s suite of standards continues to be relevant in a changing world by responding to stakeholder needs.
- Collaborate and cooperate with contributors to the financial reporting supply chain to foster audit quality and stay informed.
In terms of its 2015-2016 work plan, the IAASB is prioritising the following topics:
- Completion of current projects
- New initiatives on group audits, quality control, and special audit considerations relevant to financial institutions
- Information gathering activities to inform future work
- Liaison and dialogue with key stakeholders about audit quality and other topics
- Development of a process for post-implementation reviews
Click for IAASB announcement (link to IFAC website), which also offers access to the strategy and work plan.
