Search:  
Western Cape Business News
603
VIEWS

Send  Share  RSS  Twitter  30 Aug 2016

INSURANCE: IAASB Releases Working Group Paper on Supporting Credibility and Trust in Emerging Forms Of External Reporting: Ten Key Challenges for Assurance Engag

 



Recent Western Cape Business News

The International Auditing and Assurance Standards Board (IAASB)’s Integrated Reporting Working Group, dedicated to exploring emerging forms of external reporting (referred to as EER), has released a Discussion Paper, Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements.

“The IAASB needs to be at the forefront of the debates on external reporting and how professional accountants and other practitioners can contribute to enhancing credibility and trust,” said IAASB Chairman Prof. Arnold Schilder. “We hope this paper furthers the debate and helps us gain a deeper understanding of how the IAASB, as the global assurance standard setter, can contribute to the quality of different engagements, in the public interest, and where others can or need to play a role.”

The Discussion Paper explores:

the factors that can enhance credibility and trust, internally and externally, in relation to emerging forms of external reports;
the types of professional services covered by the IAASB’s international standards most relevant to these reports, in particular assurance engagements;
the key challenges in relation to assurance engagements; and
the type of guidance that might be helpful to support the quality of these assurance engagements.
The Discussion Paper also sets out the principal findings from research and outreach regarding developments in EER frameworks and professional services most relevant to EER reports, irrespective of whether such reports are part of the annual report or published as separate reports.

“External reporting is evolving and we know various professional services are being performed, including assurance engagements in accordance with the IAASB’s international standards,” said Merran Kelsall, IAASB member and Integrated Reporting Working Group Chair. “We have identified ten key challenges in relation to assurance engagements that we would like to explore further, recognizing the need for flexibility in these services as the external reporting environment continues to evolve and mature.”

The Working Group is seeking input from investors, preparers, those in governance roles, standard setters, practitioners, internal auditors, regulators, academics, and other stakeholders in the external reporting supply chain. The input will assist the IAASB in effectively responding to these developments in the public interest, including whether new or revised international standards or guidance may be necessary.


 
 
 
villa-caperock-art-galleryBusiness Profilesmedici-fabricswine-cellar-breede-river-valley
 
   
 
 
 
  Accomodation
Accommodation


Online Foreign Exchange
Foreign Exchange


Directory
Directory


Fax
Fax 2 Email


Finance
Finance


Furniture
Furniture


Casino
Online Casino


Restaurant
Restaurant


Auctions
Shop Online


Study IT
Study IT Online


Web design
Web Design


Weddings
Weddings


Work
Work from Home
 
 
 
 
 
Company News
 
 

 

© 2019 www.wcbn.co.za. All rights reserved.

Daily Newsletter Subscription

 

Subscribe to the Western Cape Business News Daily News and information email (it's free).

Thank You
Your email address has been added.

Name:
Email Address: