IAASB issues four exposure drafts

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24 Mar 2005

The International Auditing and Assurance Standards Board (IAASB) has invited comments on exposure drafts of four proposed International Auditing Standards (ISAs).

The EDs propose new guidance designed to enhance the quality of group financial statement audits, independent auditors' reports, and communications between auditors and those charged with governance. Titles of the documents, which may be downloaded from IAASB's Website, are:
  • Proposed ISA 600 (Revised), The Audit of Group Financial Statements.
  • Proposed ISA 260 (Revised), The Auditor's Communication with Those Charged with Governance.
  • Proposed ISA 705, Modifications to the Opinion in the Independent Auditor's Report.
  • Proposed ISA 706, Emphasis of Matter Paragraphs and Other Matters Paragraphs in the Independent Auditor's Report (derived from ISA 701, Modifications to the Independent Auditor's Report).
Comments on all of the proposals are due by 31 July 2005.

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