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IAASB invites comments on nine exposure drafts

  • International Auditing (lt green) Image

20 Aug 2007

The International Auditing and Assurance Standards Board (IAASB) has published for comment exposure drafts of nine proposed standards, including each of its international quality control and auditor reporting standards.

These have all been redrafted in accordance with the IAASB's new drafting conventions designed to improve the clarity of its pronouncements. Click for Press Release (PDF 41k). The exposure drafts are:



Quality Control Exposure Drafts – Comments due 31 December 2007

  • International Standard on Quality Control (ISQC) 1 (Redrafted) Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements
  • International Standard on Auditing (ISA) 220 (Redrafted) Quality Control for an Audit of Financial Statements
Auditor Reporting Exposure Drafts – Comments due 30 November 2007
  • ISA 700 (Redrafted) The Independent Auditor's Report on General Purpose Financial Statements
  • ISA 705 (Revised and Redrafted) Modifications to the Opinion in the Independent Auditor's Report
  • ISA 706 (Revised and Redrafted) Emphasis of Matter Paragraphs and Other Matter(s) Paragraphs in the Independent Auditor's Report
  • ISA 800 (Revised and Redrafted) Special Considerations – Audits of Special Purpose Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
  • ISA 805 (Revised and Redrafted) Engagements to Report on Summary Financial Statements
Other Proposed Standards – Comments due 31 October 2007
  • ISA 510 (Redrafted) Initial Audit Engagements – Opening Balances
  • ISA 530 (Redrafted) Audit Sampling


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