|
Include Left Circulars & Resources
|
|
|
|
Title |
: |
39/2012: The International Auditing and Assurance Standards Board (IAASB) Seeks Feedback On Plans To Improve Auditor Reporting |
|
Access No |
: |
39/2012 |
|
Edition |
: |
|
|
Publisher |
: |
|
|
Issued By |
: |
|
|
Remarks |
: |
|
|
11 Jul 2012 |
Circular 39/2012 |
TO ALL ACCOUNTANTS
THE INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD (IAASB) SEEKS FEEDBACK ON PLANS TO IMPROVE AUDITOR REPORTING
-The International Auditing and Assurance Standards Board
(IAASB) has recently released an important consultation document
in its work to enhance, on a global basis, the communicative
value of the auditor’s report on financial statements. Members
and other interested parties are invited to participate and
submit your comments on the consultation document.
The IAASB’s Invitation to Comment (ITC) titled “Improving the
Auditor’s Report”, sets out the indicative direction of IAASB’s
future standard-setting proposals to improve how and what
auditors report in accordance with International Standards on
Auditing (ISAs).
The ITC features a revised auditor’s report that illustrates the
application of the IAASB’s suggested improvements, the rationale
for these improvements, together with a discussion of their
potential value and impediments, and in what areas feedback is
sought.
Following the global financial crisis, users of audited
financial statements look for more insights into audited
entities and their financial statements. Many users felt that
while the auditor’s opinion is valuable, the auditor’s report
could be more informative.
The ITC was issued as a follow up from the IAASB’s May 2011
consultation paper titled “Enhancing the Value of Auditor
Reporting: Exploring Options for Change.” The ITC is accompanied
by an “At a Glance” publication which provides an overview of
the ITC. The comment period on the ITC is open until October 8,
2012.
The IAASB also plans to hold a series of roundtables in New
York, Brussels and Kuala Lumpur during September and October
2012 to obtain additional views and comments on this ITC.
Details of these roundtables will be posted in the coming weeks
at the following IAASB’s page:
https://www.ifac.org/auditing-assurance/auditor-reporting-iaasbs-1-priority.
Members and interested parties are encouraged to submit their
comments on the consultation document to the Institute by August
10, 2012. Comments should be addressed to:
The Secretariat
Auditing and Assurance Standards Board
Dewan Akauntan
2, Jalan Tun Sambanthan 3
Brickfields
50470 Kuala Lumpur
Tel : 03 2279 9200
Fax : 03 2273 1016
Email : technical@mia.org.my
Website address:
http://www.mia.org.my
Please be guided accordingly.
HO FOONG MOI (MS)
Acting Chief Executive Officer
|
Description |
: Auditor Reporting At a Glance June 2012 |
|
Format |
: PDF |
|
Size |
: 303KB |
|
Right click
HERE
and select 'Save Target As' to download the document. |
|
Description |
: Auditor Reporting Invitation to Comment |
|
Format |
: PDF |
|
Size |
: 4.23MB |
|
Right click
HERE
and select 'Save Target As' to download the document. |
|
|
|
