IAASB releases its 2015-2019 strategy and 2015-2016 work plan

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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.

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