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International Auditing and Assurance Standards Board |
The IAASB follows a rigorous due process in developing its pronouncements. Input is obtained from the IAASB's Consultative Advisory Group, national auditing standard setters, IFAC member bodies and their members, and the general public. Exposure drafts of proposed pronouncements are placed on the website and widely distributed for public comment.
To access electronic copies of the IAASB pronouncements free-of-charge or to purchase printed documents, go to the IFAC online bookstore. Matters relating to copyright and translation are addressed in the relevant IFAC policy statements.
Standards
International Standards on Auditing (ISAs) are to be applied in the audit of historical financial information.
International Standards on Review Engagements (ISREs) are to be applied in the review of historical financial information.
International Standards on Assurance Engagements (ISAEs) are to be applied in assurance engagements dealing with subject matters other than historical financial information.
International Standards on Related Services (ISRSs) are to be applied to compilation engagements, engagements to apply agreed upon procedures to information and other related services engagement as specified by the IAASB.
International Standards on Quality Control (ISQCs) are to be applied for all services falling under the ISAs, ISAEs and ISRSs.
Practice Statements
The IAASB issues International Auditing Practice Statements (IAPSs) that provide interpretive guidance and practical assistance to professional accountants in implementing ISAs and to promote good practice. International Review Engagement Practice Statements (IREPSs), International Assurance Engagement Practice Statements (IAEPSs), and International Related Services Practice Statements (IRSPSs) are issued to serve the same purpose for implementation of ISREs, ISAEs, and ISRSs respectively.
Authority
The authority of the IAASB pronouncements is set out in the Preface to the International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services (Approved December 2005).
The IAASB approved amendments to the Preface in December 2006. The amended Preface establishes the conventions to be used by the IAASB in drafting future ISAs and the obligations of auditors who follow those Standards. The amended Preface contains important statements about the authority of the IAASB pronouncements.