Audit and Assurance
IAASB Digital Technology Market Scan: the internet of things
24 May 2023
The International Auditing and Assurance Standards Board’s (IAASB) Disruptive Technology Team has released their eighth market scan exploring the internet of things. This explores the system of interconnected computer devices and the transfer of data over a network without requiring human interaction.
PCAOB revises standard-setting agenda
16 May 2023
The Public Company Accounting Oversight Board (PCAOB) has published a revised standard-setting agenda that prioritises projects on firm performance metrics and substantive analytical procedures.
PCAOB inspection reports include new transparency enhancement
2 May 2023
The Public Company Accounting Oversight Board (PCAOB) has announced an enhancement of its inspection reports with a new section on auditor independence and a range of other improvements that increase transparency.
IAASB consults on its revised going concern standard
26 April 2023
The IAASB has issued proposed revisions to its current standard on going concern ISA 570 (Revised) Going Concern. The proposed changes aim to promote consistent practice, strengthen the auditor’s evaluation of management’s assessment of going concern and enhance transparency with respect to the auditor’s responsibilities.
IESBA webinar on revisions to global ethics standard
20 April 2023
The International Ethics Standards Board for Accountants (IESBA) has made available a recording of its global webinar covering the recent revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards).
Financial Reporting
IFRS for SMEs: Climate-related matters on financial statements
16 May 2023
The IFRS Foundation has published educational material illustrating how the IFRS for SMEs Accounting Standard requires companies to consider the material effects of climate-related matters on the financial statements.
IASB plans standard setting work over the equity method
16 May 2023
The International Accounting Standards Board (IASB) has moved its Equity Method project to its standard-setting work plan. The aim of the project will be to develop answers to application questions about using the equity method. An exposure draft will be published in due course.
ISSB consults on the applicability of SASB Standards
11 May 2023
The International Sustainability Standards Board (ISSB) has published the Exposure Draft: Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy. The SASB Standards will serve as an important source of guidance in the ISSB’s new standards. Comments are requested by 9 August 2023.
EFRAG, EFFAS, ICAS supported study on intangibles
10 May 2023
An academic study has been published by the European Financial Reporting Advisory Group (EFRAG) on The production and consumption of information on intangibles: An empirical investigation of preparers and users. This study looks at the measures and disclosures on unreported intangibles that might be considered useful for decision making.
IFRS Foundation publishes latest Compilation of Agenda Decisions
4 May 2023
The latest Agenda Decisions by the IFRS Interpretations Committee covering the period from November 2022 to April 2023 are now available on the IFRS Foundation website.
ISSB consults on its agenda priorities
4 May 2023
The ISSB has published a request for information on its agenda priorities for its two-year work plan. Feedback is requested on the strategic direction of the ISSB’s activities and the scope and structure of potential new projects. Comments are requested by 1 September 2023.