International Auditing and Assurance Standards Board

Exposure Drafts

As part of its due process, the International Auditing and Assurance Standards Board (IAASB) exposes proposed standards for public comment, and ordinarily exposes proposed practice statements for public comment. Each exposure draft is accompanied by an explanatory memorandum that highlights the objective(s) of, and the significant proposals contained in, the proposed standard or practice statement. The explanatory memorandum may also direct respondents to aspects of the proposed standard or practice statement on which specific feedback is sought.

Open Comment Period

The following IAASB exposure drafts have open comment periods. You are invited to submit your comments to edcomments@ifac.org by the specified comment date.

[There are currently no open comment period exposure drafts.]

Closed Comment Period

Once the comment period for an exposure draft has closed, the IAASB considers the comments received in finalizing the pronouncement. Exposure drafts and comment letters will remain on the website until the final pronouncement is issued. Project histories, or bases for conclusions prepared by IAASB staff for standards approved by the IAASB after August 2005, for recently completed projects can be accessed by clicking on Projects.

Matters to Consider in a Revision of International Standard on Review Engagements (ISRE) 2400, Engagements to Review Financial Statements
Comments due by: Dec. 15, 2008

Proposed Redrafted International Standard on Auditing
ISA 210 (Redrafted), Agreeing the Terms of Audit Engagements
Comments due by: Apr. 15, 2008
Comments from: | All Responses (2) | Firms (7) | Member Bodies (17) | Other Professional Organizations (1) | Preparers and Users of Financial Statements (4) | Public Sector Organizations (7) | Regulators and Oversight Authorities (4) | Standard Setters (3)

Proposed Redrafted International Standard on Auditing
ISA 710 (Redrafted), Comparative Information-Corresponding Figures and Comparative Financial Statements
Comments due by: Apr. 15, 2008
Comments from: | All Responses (1) | Firms (6) | Member Bodies (16) | Other Professional Organizations (2) | Preparers and Users of Financial Statements (1) | Public Sector Organizations (5) | Regulators and Oversight Authorities (3) | Standard Setters (3)

Proposed New International Standard on Assurance Engagements
ISAE 3402, Assurance Reports on Controls at a Third Party Service Organization
Comments due by: May 31, 2008
Comments from: | All Responses (2) | Firms (6) | Member Bodies (18) | Other Professional Organizations (4) | Others (2) | Preparers and Users of Financial Statements (6) | Public Sector Organizations (6) | Regulators and Oversight Authorities (2) | Standard Setters (3)

Proposed Revised and Redrafted International Standard on Auditing
ISA 402 (Revised and Redrafted), Audit Considerations Relating to an Entity Using a Third Party Service Organization
Comments due by: Apr. 30, 2008
Comments from: | All Responses (2) | Firms (6) | Member Bodies (19) | Other Professional Organizations (5) | Others (1) | Preparers and Users of Financial Statements (4) | Public Sector Organizations (7) | Regulators and Oversight Authorities (4) | Standard Setters (3)

Proposed Redrafted International Standard on Auditing
ISA 501 (Redrafted), Audit Evidence Regarding Specific Financial Statement Account Balances and Disclosures
Comments due by: Mar. 31, 2008
Comments from: | All Responses (2) | Firms (6) | Member Bodies (17) | Other Professional Organizations (5) | Public Sector Organizations (4) | Regulators and Oversight Authorities (3) | Standard Setters (4)

Proposed Redrafted International Standard on Auditing and International Standard on Quality Control
ISA 220 (Redrafted), Quality Control for an Audit of Financial Statements
ISQC 1 (Redrafted), Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements
Comments due by: Dec. 31, 2007
Comments from: | All Responses (1) | Firms (6) | Government Organizations (7) | Member Bodies (21) | Others (10) | Regulators (4)

Proposed Redrafted International Standard on Auditing
ISA 700 (Redrafted), The Independent Auditor's Report on General Purpose Financial Statements
Comments due by: Nov. 30, 2007
Comments from: | All Responses (2) | Firms (9) | Government Organizations (10) | Member Bodies (19) | Others (10) | Regulators (4)

Proposed Redrafted International Standard on Auditing
ISA 705 (Revised and Redrafted), Modifications to the Opinion in the Independent Auditor's Report
Comments due by: Nov. 30, 2007
Comments from: | All Responses (2) | Firms (7) | Government Organizations (7) | Member Bodies (19) | Others (10) | Regulators (4)

Proposed Redrafted International Standard on Auditing
ISA 706 (Revised and Redrafted), Emphasis of Matter Paragraphs and Other Matter(s) Paragraphs in the Independent Auditor's Report
Comments due by: Nov. 30, 2007
Comments from: | All Responses (2) | Firms (7) | Government Organizations (6) | Member Bodies (19) | Others (11) | Regulators (3)

Proposed Redrafted International Standard on Auditing
ISA 800 (Revised and Redrafted), Special Considerations-Audits of Special Purpose Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
Comments due by: Nov. 30, 2007
Comments from: | All Responses (1) | Firms (7) | Government Organizations (7) | Member Bodies (20) | Others (6)

Proposed Redrafted International Standard on Auditing
ISA 805 (Revised and Redrafted), Engagements to Report on Summary Financial Statements
Comments due by: Nov. 30, 2007
Comments from: | All Responses (1) | Firms (7) | Government Organizations (7) | Member Bodies (20) | Others (6)

Proposed Redrafted International Standards on Auditing
ISA 320 (Revised and Redrafted), Materiality in Planning and Performing an Audit
ISA 450 (Redrafted), Evaluation of Misstatements Identified during the Audit
Comments due by: Feb. 15, 2007
Comments from: | All Responses (1) | Firms (7) | Government Organizations (6) | Member Bodies (21) | Others (7) | Regulators (5)

Audit Risk: Proposed International Standards on Auditing and Proposed Amendment to ISA 200, Objective and Principles Governing an Audit of Financial Statements
Comments due by: Mar. 31, 2003
Comments from: | Firms (9) | Member Bodies (18) | Others (14)

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