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.

IAASB proposes new preface and restructuring of standards

  • News default Image

26 Nov 2002

The International Auditing and Assurance Standards Board has issued an Exposure Draft (PDF 237k) inviting comment on IAASB's Proposed Terms of Reference; the Preface to the International Standards on Quality Control, Auditing, Assurance, and Related Services; and Operations Policy No 1–Bold Type Lettering.

Comments are due 28 February 2003. The IAASB is proposing to restructure the Auditing and Assurance Handbook to include four separate sections covering:
  • Quality control. The documents in this section would be called International Standards on Quality Control (ISQCs). This section would address firm-wide quality control issues while ISAs and ISAEs will address engagement specific quality control matters.
  • Audits and reviews of historic financial information. The documents in this section would continue to be called International Standards on Auditing (ISAs) and International Auditing Practice Statements (IAPSs).
  • Assurance engagements on other subject matters. The documents in this section would be called International Standards on Assurance Engagements (ISAEs), and in time, if needed, International Assurance Engagement Practice Statements (IAEPSs) could be added.
  • Related services. The documents in this section would be called International Standards on Related Services (ISRSs), and over time, if needed, International Related Services Practice Statements (IRSPSs) could be added.

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.