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IAASB Adopts New Publicly Traded Entity Definition

2025-09-29T18:07:03+02:00

LATEST UPDATE IAASB Adopts New Publicly Traded Entity Definition Narrow Scope Amendments to the ISQMs, ISAs and ISRE 2400 (Revised) Published The International Auditing and Assurance Standards Board (IAASB) has released narrow scope amendments to its standards, revising the definition of listed entity, available on: https://www.iaasb.org/publications/narrow-scope-amendments-isqms-isas-and-isre-2400-revised-result-revisions-definitions-listed-entity This definition aligns with the definition in the International Ethics Standards Board for Accountants’ (IESBA) Code of Ethics for Professional Accountants (including International Independence Standards), and will amend the International Standards on Quality Management (ISQM) and International Standards on Auditing (ISAs). In addition, amendments to International Standard on Review [...]

IAASB Adopts New Publicly Traded Entity Definition2025-09-29T18:07:03+02:00

FSCA Conduct Standard 2 of 2025 (RF) – Conditions Prescribed in Respect of Pension Fund Benefit Administrators (Conduct Standard)

2025-08-28T17:43:05+02:00

LATEST UPDATE FSCA Conduct Standard 2 of 2025 (RF) – Conditions Prescribed in Respect of Pension Fund Benefit Administrators (Conduct Standard) The Financial Sector Conduct Authority (FSCA) has issued FSCA Conduct Standard 2 of 2025 (RF), which prescribes conditions in respect of pension fund benefit administrators. The Conduct Standard enhances the existing framework governing benefit administrators by addressing key conduct risks and aligning their regulation with other sector-specific regulatory frameworks supervised by the FSCA. The Conduct Standard may be accessed on: https://www.fsca.co.za/Regulatory%20Frameworks/Pages/Standards.aspx more LEAFQuest Advance Your Knowledge in Auditing [...]

FSCA Conduct Standard 2 of 2025 (RF) – Conditions Prescribed in Respect of Pension Fund Benefit Administrators (Conduct Standard)2025-08-28T17:43:05+02:00

New ISSA 5000 Webinar Series for Sustainability Assurance Engagements

2025-08-28T17:46:08+02:00

LATEST UPDATE New ISSA 5000 Webinar Series for Sustainability Assurance Engagements The International Auditing and Assurance Standards Board is hosting a three-part global webinar series designed to assist sustainability assurance practitioners, firms, jurisdictional standard setters, and professional organisations as they adopt, implement, or apply International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements (ISSA 5000), available on: www.iaasb.org/focus-areas/understanding-international-standard-sustainability-assurance This series, ISSA 5000 in Focus, is available on: www.iaasb.org/events/issa-5000-focus-webinar-series-sustainability-assurance-engagements Each webinar includes an explanation of ISSA 5000 requirements with practical implementation insights, real-world examples, and solutions to common challenges. Webinar #1: Foundational [...]

New ISSA 5000 Webinar Series for Sustainability Assurance Engagements2025-08-28T17:46:08+02:00

Educational Modules on the Third Edition of IFRS for SMEs Published

2025-08-28T16:34:34+02:00

LATEST UPDATE Educational Modules on the Third Edition of IFRS for SMEs Published The IASB has published educational modules on financial instruments, small and medium-sized entities, concepts and pervasive principles, and cash flow statements to provide support in the application of the IFRS for SMEs Accounting Standard. These modules are designed to provide support to anyone learning about, applying, or reading financial statements prepared using the IFRS for SMEs Accounting Standard. The educational modules may be accessed on: https://www.ifrs.org/supporting-implementation/2025-ifrs-for-smes-supporting-materials/modules/ more LEAFQuest Advance Your Knowledge in Auditing Enroll in Our [...]

Educational Modules on the Third Edition of IFRS for SMEs Published2025-08-28T16:34:34+02:00

CSOS Consolidated Practice Directive 1 of 2025

2025-08-28T16:29:29+02:00

LATEST UPDATE CSOS Consolidated Practice Directive 1 of 2025 The Community Schemes Ombud Service (CSOS) has released a Consolidated Practice Directive replacing all previous directives, circulars and guidelines with a single, unified document. This new directive aims to provide a comprehensive and consistent framework for managing community schemes such as sectional title schemes, homeowners' associations and retirement housing schemes. The directive may be accessed on: https://csos.org.za/practice-directives/ more LEAFQuest Advance Your Knowledge in Auditing Enroll in Our Latest Courses! Quests List LEAFQuest [...]

CSOS Consolidated Practice Directive 1 of 20252025-08-28T16:29:29+02:00

IFRS Foundation News Alert: IASB Issues Amendments to IFRS 19 to Complete Catch-up Work

2025-08-28T16:25:13+02:00

LATEST UPDATE IFRS Foundation News Alert: IASB Issues Amendments to IFRS 19 to Complete Catch-up Work The International Accounting Standards Board (IASB) has issued amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures. IFRS 19, issued in May 2024, allows eligible subsidiaries to apply IFRS Accounting Standards with reduced disclosures. It includes reduced disclosure requirements for other standards or amendments issued up to February 2021. The newly issued amendments to IFRS 19 help eligible subsidiaries by reducing disclosure requirements for standards and amendments issued between February 2021 and May 2024. With these amendments, IFRS 19 reflects [...]

IFRS Foundation News Alert: IASB Issues Amendments to IFRS 19 to Complete Catch-up Work2025-08-28T16:25:13+02:00

IAASB Publishes New Resources to Support ISSA 5000 Adoption and Implementation

2025-08-28T15:57:09+02:00

LATEST UPDATE IAASB Publishes New Resources to Support ISSA 5000 Adoption and Implementation The IAASB has released two new resources to further support jurisdictions and stakeholders in adopting and implementing the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. Extracts from ISSA 5000 for Limited and Reasonable Assurance Engagements These extracts are designed to help regulators, standard setters, and other stakeholders to more easily identify the requirements and application material most relevant to their jurisdictional decisions. Frequently Asked Questions (FAQ) Document on ISAE 3000 (Revised) and ISAE 3410 The IAASB [...]

IAASB Publishes New Resources to Support ISSA 5000 Adoption and Implementation2025-08-28T15:57:09+02:00

IESBA Issues Staff Alert – Private Equity Investment in Accounting Firms, and Related Ethical and Independence Considerations

2025-08-28T15:38:48+02:00

LATEST UPDATE Private Equity Investment in Accounting Firms, and Related Ethical and Independence Considerations Private equity (PE) investment in accounting firms has grown significantly over the past five years in a number of major jurisdictions. Such investment may trigger ethical and independence implications, as a result of related structural, strategic and operational changes to a firm. A Staff Alert, which highlights key ethical matters that accounting firms should bear in mind when considering, or accepting investment from PE organisations has been issued by the International Ethics Standards Board for Accountants (IESBA). Titled, Private Equity Investment [...]

IESBA Issues Staff Alert – Private Equity Investment in Accounting Firms, and Related Ethical and Independence Considerations2025-08-28T15:38:48+02:00

IESBA Staff Releases Additional Implementation Support Materials for IESSA

2025-08-28T15:29:00+02:00

LATEST UPDATE IESBA Staff Releases Additional Implementation Support Materials for IESSA The staff of the International Ethics Standards Board for Accountants (IESBA) has released two implementation support publications to help sustainability assurance practitioners understand and apply the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA): Key Differences: A comparison document outlining the main differences between the IESSA and the corresponding provisions of the IESBA Code applicable to audits of financial statements List of PIE Prohibitions: A list of specific prohibitions in the IESSA applicable to sustainability assurance engagements of public interest entities [...]

IESBA Staff Releases Additional Implementation Support Materials for IESSA2025-08-28T15:29:00+02:00

PCAOB Publishes New Resource to Help Smaller Audit Firms Address Challenges of Auditing Accounting Estimates

2025-06-24T16:31:29+02:00

LATEST UPDATE PCAOB Publishes New Resource to Help Smaller Audit Firms Address Challenges of Auditing Accounting Estimates A new PCAOB publication, Audit Focus: Auditing Accounting Estimates, available on: https://pcaobus.org/resources/staff-publications/audit-focus--auditing-accounting-estimates, provides auditors with reminders and good practices regarding accounting estimates, an especially challenging aspect of financial statements. Accounting estimates are pervasive in financial statements, often substantially affecting a company's financial position and results of operations. They generally involve subjective assumptions and measurement uncertainty, making them susceptible to management bias. Consequently, accounting estimates are often some of the areas of greatest risk in an audit. The PCAOB’s [...]

PCAOB Publishes New Resource to Help Smaller Audit Firms Address Challenges of Auditing Accounting Estimates2025-06-24T16:31:29+02:00
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