The annual report highlights the IAASB's work in the public interest to enhance the quality and consistency of practice throughout the world.
The report covers new and enhanced international standards issued by the IAASB during the year, and the board’s progress on its current standard-setting projects and related initiatives. It also summarizes the IAASB’s outreach activities to obtain input on its deliberations and to keep stakeholders informed of its activities.
“Meeting the often diverse needs of stakeholders in today’s world means that the IAASB’s efforts must be clear in their objectives, and impactful in their design. This involves acting on opportunities to engage and dialogue with a broad range of stakeholders, and focusing on what truly matters”, said IAASB chairman Prof Arnold Schilder. “In 2012, the IAASB made progress on topics relevant to supporting global financial stability – such as improving auditor reporting and the development of an audit quality framework – and on topics that serve to enhance the role, relevance and quality of assurance and related services, and to facilitate adoption and implementation. Our efforts have been, and will continue to be, inspired by the opportunities that arise from these challenging, yet highly relevant, topics.”
The annual report also includes a report from the Prof Linda de Beer, chairman of the IAASB Consultative Advisory Group (CAG), which outlines the work of the CAG in providing input to the IAASB.
Press release
IAASB's 2012 annual report
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