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31 March 2011

IAASB Annual Report 2010


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The Annual Report 2010 highlights the IAASB’s ongoing work in promoting the adoption and implementation of its clarified ISAs, and the issuance of a number of proposals in areas where there is demand for new and innovative assurance and related services, other than audits of financial statements.


“A number of projects underway are addressing issues that are at the forefront of our stakeholders’ minds, and our efforts can be best summarised as a pursuit of three goals: clarity, quality and relevance,” said IAASB Chairman, Prof. Arnold Schilder. “Developing assurance standards in new areas has taught us that wide consultation becomes even more critical to ensure the public interest is being met.” Accordingly, the annual report details the extensive outreach and liaison activities undertaken during 2010 with key groups, such as regulators and audit oversight bodies, national auditing standard setters, accounting standard setters, governments and public sector organisations, and accounting firms.

James Gunn, IAASB Technical Director, noted “The IAASB’s debates on its 2010 standard-setting proposals are likely to evolve during 2011 as stakeholder responses are received. We hope that the new interactive format of the 2010 annual report allows those interested in the IAASB’s work to more easily stay abreast of developments in our initiatives.” The annual report also catalogues the tools and resources that have been developed to support the clarified ISAs, and makes reference to the ongoing consultation on the IAASB’s work programme for 2012–2014.

A report from Linda de Beer, the newly appointed chairman of the IAASB Consultative Advisory Group (CAG), describes the work of the CAG in providing input to the IAASB. The IAASB also continues to receive oversight from the Public Interest Oversight Board (PIOB).

Press release


© IFAC

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