International Auditing and Assurance Standards Board (IAASB)

Maintaining the ISA for LCE This week, we held the inaugural meeting of our newly established ISA for LCE Advisory Group – an important step in supporting the continued evolution of the standard. This multi-stakeholder group will serve as a consultative forum, providing timely, practical insights on: 🔹 Adoption and implementation of the ISA for LCE 🔹 Proposed revisions to the standard 🔹 The relevance and proportionality of updates in the context of less complex entity audits 🔹 Stakeholder expectations across jurisdictions While the ISA for LCE has been in place for several years, its ongoing maintenance and real-world application make continued engagement essential – particularly with those closest to audits of small- and medium-sized entities. Through this Advisory Group, we are strengthening our connection with practitioners and stakeholders, ensuring that the standard remains fit for purpose, responsive, and globally relevant. We look forward to sharing more as this important work progresses. 🔍 #Auditing | 🌍 #GlobalStandards | 📘 #ISAforLCE | 🏢 #SMEs | ⚙️ #StandardSetting | 🛡️ #AuditQuality

Now Available: French Translation of the ISA for LCE We’re pleased to share that a French translation of the International Standard on Auditing for Less Complex Entities (ISA for LCE) is now available. 🔗 https://bit.ly/4tztjKU This important milestone helps expand accessibility and supports consistent application of the standard across French-speaking jurisdictions. We extend our sincere thanks to the Instituut van de Bedrijfsrevisoren-Institut des Réviseurs d'Entreprises and the Compagnie Nationale des Commissaires aux Comptes - CNCC for their dedication and collaboration in translating the standard. Explore the French language ISA for LCE and learn more: https://bit.ly/4tztjKU 🔍 #Audit | 📘 #GlobalStandards | 🌍 #Translation | 🧩 #LessComplexEntities | 🏛️ #IAASB

Bringing User Voices to the Fore: Launch of the Joint User Advisory Group 🌍💬 Together with our partner board, International Ethics Standards Board for Accountants (IESBA), we have established a joint User Advisory Group (UAG) – a dedicated channel for users of financial statements and other external reporting to provide practical, timely input that helps inform our work and global standard setting. Earlier today we held the inaugural meeting with this globally diverse group of members, bringing a wide range of user perspectives and experiences. The discussions focused on how the UAG will engage with both Boards and contribute their insights to key IAASB and IESBA projects and other initiatives. The UAG will meet periodically throughout the year, serving as an ongoing forum for user dialogue and helping shape the future of global standards. For more information on the UAG, including its members and future activities, click here: https://bit.ly/41bZDaE 🌐 #GlobalStandards | 💡 #UserVoices | 📊 #StakeholderInsights | 🤝 #Collaboration | 🏛️ #IAASB | 📘 #IESBA

This week, we had the opportunity to listen to and learn from the International Forum of Independent Audit Regulators (IFIAR) Standards Coordination Working Group at their meeting in Amsterdam. Our Chair Tom Seidenstein was joined by our Vice-Chair Edo Kienhuis and one of our Directors, Jasper van den Hout, in providing updates across key areas while hearing valuable input form members. Discussion topics included: 🔹 Standard-setting priorities, including our current  Strategy and Work Plan and the ISA 500 Series project 🔹 Audit Evidence and Risk Response project 🔹 Technology, including our 2025 global roundtables on technology and quality management and our plans to develop non-authoritative materials to support stakeholders as they apply our quality management standards 🔹 Post-implementation review of ISA 540 (Revised) on accounting estimates 🔹 Adoption of our sustainability assurance standard, ISSA 5000 Members' insights will help shape these projects as we move forward. A sincere thank you to IFIAR for sharing your valuable perspectives and helping us strengthen our work! 🌍 #GlobalStandards | 🤝 #Collaboration | 📊 #AuditQuality | 🛠️ #QualityManagement | 🏛️ #IAASB | 🔹 #IFIAR

📣 Your perspective is needed to help shape the future of global ethics, audit, and assurance standards Alongside the International Ethics Standards Board for Accountants (IESBA), we’ve launched a joint global stakeholder survey to inform our 2028–2031 Strategies and Work Plans. Access the Survey here by May 15: https://bit.ly/49wx64F We are seeking input from a broad range of stakeholders across the global reporting ecosystem, including: • Auditors, assurance practitioners and audit and assurance firms of all sizes • Professional accountants • Professional accountancy organizations and other professional bodies • Global and jurisdictional standard-setters • Regulators, audit oversight bodies, and policymakers • Investors, preparers, and other users of financial and non-financial information • Academics and other experts Your insights will help the boards better understand: 🔹 Strategic priorities for the next strategy period 🔹 Key trends shaping the future of audit, assurance, ethics, and independence 🔹 Opportunities for closer coordination between the boards 📅 Survey open until May 15 Help ensure international standards continue to serve the public interest in a rapidly evolving global reporting environment. Learn more and access survey questions here: https://bit.ly/49wx64F 🔍 #Audit | ⚖️ #Ethics | 🛡️ #Assurance | 📘 #StandardSetting | 🌍 #PublicInterest

Pleased to share: A new Spanish-language translation of International Standard on Sustainability Assurance 5000 (ISSA 5000) is now available, thanks to IMCP. Access it here: www.iaasb.org/ISSA5000 A great step in expanding accessibility and supporting consistent application of ISSA 5000 across jurisdictions.

Did you know…? When we develop standards or non-authoritative materials, we actively seek input from a wide range of stakeholders. To ensure we receive the right insights, at the right time, we are strengthening and formalizing our feedback channels through dedicated advisory groups. Building on the success of existing groups focused on topics such as technology and sustainability assurance, we are expanding this approach. New advisory groups are in development, including one focused on the ISA for LCE and another bringing together academic perspectives. Follow us to stay updated as we share more about these groups and how they support high-quality standard-setting.

Great momentum for sustainability assurance globally! 🌏🌿 We’re pleased to see Brazil, Canada, and New Zealand advancing the adoption of ISSA 5000, our International Standard on Sustainability Assurance: 🇧🇷 Brazil – The Conselho Federal de Contabilidade (CFC) has issued NBC TAS 5000, converged with ISSA 5000, covering assurance of sustainability and integrated reporting. 🇨🇦 Canada – The Auditing and Assurance Standards Board (AASB) has issued CSSA 5000, effective December 15, 2027, with earlier adoption permitted. 🇳🇿 New Zealand – The External Reporting Board (XRB) has issued ISSA (NZ) 5000. These developments mark important steps toward high-quality, globally consistent sustainability assurance – supporting trust in sustainability information for investors and other stakeholders. ✅ 🔗 More jurisdictional adoption updates are available on the IAASB website: iaasb.org/ISSA5000 Is your jurisdiction adopting ISSA 5000? Share your progress in the comments below!

📍 IAASB March Meeting – Key Outcomes We’ve concluded a productive March 2026 IAASB meeting, building on progress shared earlier in the week and closing with key decisions and next steps. Key approvals this week: 📄 ISRE 2410 – An Exposure Draft for public consultation (early May) to enhance consistency in interim reviews and increasing transparency for users. 💻 Technology Guidance – Our action plan to develop non-authoritative, principles-based guides to support consistent and effective application of ISQM 1 and 2 and ISA 220 (Revised). 📊 ISA 500 Series – The project plan to revise standards on inventory and external confirmations to keep pace with a modern, technology-enabled audit environment. Audit Evidence & Risk Response We also advanced this foundational project, reviewing the first full draft of proposed revisions to strengthen how auditors obtain and evaluate audit evidence in a risk-based, technology-enabled environment. Discussions this week focused on: - Reinforcing the importance of professional skepticism and making professional judgements, and how to best support auditors as they do so - Clarifying aspects of tests of controls, the role of substantive procedures, and the use of analytical procedures - Supporting appropriate use of technology when applying the principles in the ISAs - Improving coherence across the ISAs through consequential and conforming amendments What’s next: 📄 ISRE 2410 – Public consultation launches in early May. This timing reflects coordination with IESBA on consultations, recognizing that many stakeholders participate in consultations from both boards. 💻 Technology: Establish an expert group and begin developing non‑authoritative guides, with drafts brough to the IAASB for input and approval on a rolling basis; continue monitoring emerging developments. 📊 ISA 500 Series – Project plan will be available online next week; outreach and discussions continue in 2026, with an Exposure Draft for ISA 501 (inventory) and 505 (external confirmation) targeted for approval in December 2026 (public consultation in January 2027). 🔍 Audit Evidence & Risk Response – This project returns for discussions in June, with an anticipated approval vote on a public consultation Exposure Draft with revisions to ISAs 330 (response to assessed risks), 500 (audit evidence) and 520 (analytical procedures) during our June meeting (public consultation in July 2026). 🌱 ISSA 5000 Implementation – Developing additional support materials, including an FAQ on materiality (Q2). Updated jurisdictional adoption information available on our website: www.iaasb.org/ISSA5000 🏢 ISA for LCE – Further discussions at our June meeting, with an Exposure Draft anticipated in July 2026. Thank you to all who joined in person and online. Missed a session? Full recordings are available on our YouTube channel. 🔍 #IAASB | 🔍 #Auditing | 🧩 #Assurance | 📘 #StandardSetting | ⭐ #AuditQuality | 🌱 #SustainabilityReporting

📍 IAASB March Meeting – Progress After the First Two Days We just wrapped up day two of our March 2026 meeting, with productive discussions across several important projects on our agenda. We also welcomed new IAASB member James Ferris and our new Vice-Chair Edo Kienhuis, who has served as an IAASB member since 2021. Agenda sessions so far have included: 📄 ISRE 2410 – We discussed proposed revisions aimed at more consistent performance of interim engagements and more useful review reports for users. The conversation focused on strengthening the work effort related to areas of particular importance to users of interim financial information, and increasing transparency – particularly around going concern. We anticipate a vote later this week to approve the Exposure Draft for public consultation. 💻 Technology Guidance – As part of our continued focus on technology, we discussed next steps on our Technology & Quality Management initiative, including plans to develop practical, non-authoritative guidance to support the consistent application of quality management standards when using technology in audits and assurance engagements. We also reviewed proposed structure and scope of a series of guides to help firms manage technology-related quality risks while maintaining a principles-based approach. We also considered formalization of our Technology Catalog process, our central means of tracking technology-related matters that may warrant attention. A vote on the proposed approach and action plan is expected later this week. 📊 ISA 500 Series – We advanced our work on a proposed project to revise targeted standards in the ISA 500 series, focusing on inventory (ISA 501) and external confirmations (ISA 505). The discussion centered on how these standards can better reflect today’s audit environment – particularly the use of technology and the need to reinforce professional skepticism. 🌱 Sustainability & Other Assurance – We discussed how we are supporting adoption and implementation of ISSA 5000 on sustainability assurance, including early feedback from stakeholders. We also explored plans to develop targeted, non-authoritative resources to help practitioners apply the standard consistently in practice. 🏢 ISA for LCE – We held in-depth discussions on the first full draft of potential revisions to our standard for audits of less complex entities. The proposed updates aim to align with the core requirements and concepts of the suite of International Standards on Auditing in a proportionate way, particularly recently revised standards on fraud and going concern. 📺 Follow the meeting discussions live on our YouTube channel: 🔗 Wednesday: https://lnkd.in/eTfTCU54 🔗 Thursday: https://lnkd.in/e4Bd-2Nf 🔍 #IAASB | 🔍 #Auditing | 🧩 #Assurance | 📘 #StandardSetting | ⭐ #AuditQuality | 🌱 #SustainabilityReporting