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Items tagged with "Audit"

IFAC and CA ANZ release quality management toolkit for smaller practices

The International Federation of Accountants (IFAC) and Chartered Accountants Australia and New Zealand (CA ANZ) have launched a quality management toolkit aimed at aiding small- and medium-sized practices (SMPs) in adopting the International Auditing and Assurance Standards Board’s (IAASB) suite of quality management standards.

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PRA’s evaluation confirms success of written auditor reporting policy

The UK’s Prudential Regulation Authority (PRA) has assessed the effectiveness of its Written Auditor Reporting policy. This policy, designed to enhance dialogue and report quality between auditors and supervisors, has proven highly successful.

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Sustainability assurance standard out now

The International Auditing and Assurance Standards Board (IAASB) published its proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements in early August.

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Monitoring Group updates on strengthened audit for changing times

The Monitoring Group (MG) has again reported on its progress on strengthening the international audit-related standard-setting system.

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FRC reports continued improvement in audit quality but further action needed

The UK’s Financial Reporting Council (FRC) has released its annual inspection and supervision results for the largest audit firms, including BDO, Deloitte, EY, Grant Thornton, KPMG, Mazars, and PwC. The report reveals that 77% of audits inspected were deemed good or required only limited improvement, representing a consistent year-on-year improvement over the past four years.

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Audit committee chairs clued-in to ESG reporting

The UK’s Financial Reporting Council (FRC) has released a research report exploring the perspectives and approaches of Audit Committee Chairs (ACCs) towards Environmental, Social, and Corporate Governance (ESG) activities and reporting.

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FRC publishes minimum standard for audit committees

The Financial Reporting Council (FRC) has released the Audit Committees and the External Audit: Minimum Standard, designed to enhance audit quality and reinforce public trust in the financial reporting process. The standard provides clear expectations and guidelines for audit committees within the FTSE350, supporting the delivery of high-quality audits.

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IAASB brings consultation on sustainability assurance standard forward

The International Auditing and Assurance Standards Board (IAASB) has confirmed that it will bring forward the consultation on its proposed new sustainability assurance standard, the International Standard on Sustainability Assurance™ (ISSA) 5000.

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IOSCO outlines considerations for ESG assurance

The International Organization of Securities Commissions (IOSCO) has unveiled its latest report, outlining key considerations for establishing a reliable global assurance framework for sustainability-related corporate reporting.

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IAASB agenda consultation starts – will Inline XBRL be in scope?

The International Auditing and Assurance Standards Board’s (IAASB) Proposed Strategy and Work Plan for 2024‒2027 includes a mention of exploring a new standard on XBRL.

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