IRBA Newsletter 27

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7 Issue 27 July - September 2014
STANDARDS c o n t .
The discussion paper is available on the ASB's at The IAASB re-exposes the proposed ISA720 (Revised)
The IAASB released for re-exposure an enhanced proposed
ISA 720 (Revised), The Auditor's Responsibilities Relating to
Other Information and Proposed Consequential and
ConformingAmendments toOther ISAs, on 18April 2014.
The IRBA submitted comments to the IAASB on 22 July 2014.
The comment letter is available at
International IntegratedReportingCouncil (IIRC)
The IIRC issued the following papers on assurance on
integrated reporting (<IR>) in July 2014, with comments due
by 1 December 2014:
?Assurance on <IR> - An Introduction to the Discussion; and
?Assurance on <IR> - An Exploration of Issues.
The CFAS expressed support for the IRBA to obtain
comments on the papers through round-table discussions,
held in Johannesburg and Cape Town. RAs are encouraged to
submit comments to the IIRC by 1 December 2014.
The discussion papers are available on the IIRC's at
The International Audit and Assurance Standards Board
(IAASB)
The IAASB proposes enhancements to the International
Standards on Auditing focused on financial statement
disclosures
The IAASB released for public comment proposed changes to
the International Standards on Auditing (ISAs) to clarify
expectations of RAs when auditing financial statement
disclosures, inMay 2014.
The IAASB believes that the proposed changes, mainly to
application material in the ISAs in order to further support the
proper application of the standards' requirements, as set out in
the exposure draft, are an appropriate response to the
concerns raised about the need to clarify the expectations of
auditors when auditing financial statement disclosures, as well
as to the need for additional guidance to assist auditors in
addressing the practical challenges arising from the evolving
nature of disclosures.
The IRBAsubmitted comments to the IAASB on 11 September
2 0 1 4 . T h e c omme n t l e t t e r i s a v a i l a b l e a t