Enhancing IAASB & IESBA Coordination and Connectivity Joint - - PowerPoint PPT Presentation

Enhancing IAASB & IESBA Coordination and Connectivity Joint IAASB & IESBA Meeting September 2018

Enhancing IAASB & IESBA Coordination and Connectivity

2017 Joint Plenary

• Principles and Criteria:

Making Coordination Work

• Priority Cross-Over Topics

Including Professional Skepticism, EQCR Objectivity & ISQC 1, The Restructured Code and IAASB Standards

• Project Application
• Strategy & Work Plan Cycles

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Audit Ethics

2018 Joint Plenary

• Strategic Perspectives – Kevin Dancey
• IAASB-IESBA Strategies & Work Plans

Directional Thinking & Identifying Future Coordination Opportunities E.g. Technology, The Code & Assurance and Related Services, etc.

• Joint Break-out Discussions

Exchange of Views and Ideas on Selected Discussion Topics of Relevance to Coordination

Enhancing Connectivity

• Member liaisons

– Megan Zietsman (IAASB), Sylvie Soulier (IESBA)

• Regular and ongoing contact, cross-CAG attendance, guidance and

input at technical and project levels as needed

– Overall, better mutual understanding and respect resulting from

• pen-minded dialogues
• Staff level

– Technical Directors designated lead staff coordinators – More systematic coordination-specific staff meetings

• Additional initiatives
• Periodic cross-Board update & awareness teleconferences
• Joint CAG and joint NSS awareness & discussion sessions

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Audit Ethics

Areas of Coordination

• Current Cross-Over & Common Interest Initiatives

– Professional Skepticism – EQCR Objectivity & ISQC 1, and ISA 220 – The Code & Assurance and Related Services – The Restructured Code and IAASB Standards – Technology

• Future Strategies and Work Plans

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Audit Ethics

Coordination Within IAASB and IESBA Initiatives Universe

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Estimates Risk Assessment Quality Management Group Audits Strategy Data Analytics Emerging Reporting Non‐Assurance Services Restructured Code Roll‐out Fees Strategy QC and EQCR Tax Planning Services Technology & Ethics Professional Skepticism Skepticism for PAs Service Delivery Models

Coordination Topics

PIEs SMP Audit NOCLAR Post Impl’n Code Materiality E‐Code

AUDIT ETHICS

Audit Evidence

Strategies and Work Plans

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Sept 17 Mar 18 June 18 Sept 18 Dec 18 Joint Plenary Joint Plenary SWP Survey SWP CP SWP Final SWP CP CP Feedback Survey Feedback

IESBA 2019‐23 IAASB 2020‐23

Joint CAG IESBA Update Webinar IAASB Update Webinar Possible Joint Steering / Planning Cttee teleconference ‐ TBC