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IAASB publishes comparison with PCAOB auditor reporting proposal

  • IAASB (International Auditing and Assurance Standards Board) (lt gray) Image
  • PCAOB (US Public Company Accounting Oversight Board) Image

May 27, 2016

The International Auditing and Assurance Standards Board (IAASB) has published “The New Auditor’s Report: A Comparison Between the ISAs and the PCAOB Reproposal.”

The publication compares the IAASB’s auditor reporting standards (which were updated in January 2015) with the PCAOB’s recently reproposed standard, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion. The publication “focuses on a comparison between the IAASB’s concept of Key Audit Matters (KAM), as set out in ISA 701, Communicating Key Audit Matters in the Independent Auditor’s Report, and the PCAOB’s concept of Critical Audit Matters (CAM).”

The IAASB’s comparison is available on the IFAC’s Web site (registration is required to view the publication).

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