LATEST UPDATE

IAASB Opens Post-Exposure Public Consultation for the Penultimate Narrow-scope Amendments to the ISQMs and ISAs

The International Auditing and Assurance Standards Board (IAASB) has opened its post-exposure public consultation for the penultimate narrow-scope amendments to the International Standards on Quality Management (ISQMs) and the International Standards on Auditing (ISAs), as a result of the revisions to the definitions of listed entity and public interest entity (PIE) in the International Ethics Standards Board for Accountants Code.

The IRBA’s Committee for Auditing Standards welcomes comments on all matters that are addressed in the Post-Exposure Consultation: Invitation to Comment. This includes feedback on the questions to respondents (using the applicable response template), and any issues or South Africa-specific challenges. Comments should be submitted via email to standards@irba.co.za by 18 March 2025, or directly to the IAASB via its website by 27 March 2025.

A PDF copy of the post-exposure consultation, as well as the response template may be downloaded from the exposure drafts page of the IRBA website: https://www.irba.co.za/guidance-to-ras/technical-guidance-for-auditors/exposure-drafts-and-comment-letters

For any queries, contact the Standards Department by emailing standards@irba.co.za