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Details

  • Service: Audit, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Type: Regulatory update
  • Date: 30/07/2013

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Enhancing the value of auditor reporting (2013/14) 

The IAASB has released a new ED Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing.
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The ED proposes significant change to the layout and wording of the auditor’s report, particularly regarding reporting on going concern and matters of audit significance.

 

The proposals respond to calls from investors, analysts, and other users of audited financial statements in the wake of the global financial crisis for the auditor to provide more relevant information in the auditor's report, and build upon the indicative direction set out in the IAASB's June 2012 Invitation to Comment (ITC).

 

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The ED is open for comment until 22 November 2013.