ICAEW's Audit and Assurance Faculty brings you the latest technical updates on developments in auditing and assurance, financial reporting and ethics.

IAASB holding a range of webinars on ISSA 5000

Audit and Assurance | 29 August 2023

The International Auditing and Assurance Standards Board (IAASB) is holding a range of webinars and events to enhance understanding of the newly proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. To see a list of events please click here.

IASB set out requirements for when a currency is not exchangeable

Financial Reporting | 15 August 2023 

The International Accounting Standards Board (IASB) has issued amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates that will require companies to provide more useful information in their financial statements when a currency cannot be exchanged into another currency. The amendments will become effective for annual reporting periods beginning on or after 1 January 2025, with early application permitted.  

FRC publishes latest Key Facts and Trends report

Financial Reporting & Audit and Assurance | 14 August 2023 

The Financial Reporting Council (FRC) has published the 21st edition of its Key Facts and Trends (KFAT) report, providing the latest statistical information and trends on the UK accountancy and audit profession.   

IAASB: What you need to know about ISSA 5000 

Audit and Assurance | 14 August 2023 

The International Auditing and Assurance Standards Board (IAASB) has released a short video summarizing the international Standard on Sustainability Assurance (ISSA) 5000.  

IAASB launches consultation on Global Sustainability Assurance Standard

Audit and Assurance | 2 August 2023

The International Auditing and Assurance Standards Board (IAASB) issued its proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. It focuses on sustainability reporting and when approved will be the most comprehensive sustainability assurance standard available to all assurance practitioners globally. Deadline for comment 1 December 2023.