United States

In the Headlines: Enhancing the Auditor’s Report

Jan 26, 2015
From the Financial Reporting Network and the IFRS Institute

In the Headlines 15-1 summarizes the IAASB’s new standard about auditor reporting, while leaving the scope of the independent audit unchanged. The new requirements prescribe specific changes to the content of the auditor’s reports about all companies, with additional requirements for reports about listed companies, including requiring the auditor’s report about a listed company to identify the engagement partner by name and to describe key audit matters.

The new requirements apply to audits of financial statements performed under International Standards on Auditing for periods ending on or after December 15, 2016. Early application is permitted.

Read In the Headlines 15-1