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

  • IAASB (International Auditing and Assurance Standards Board) (lt gray) Image

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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