The International Auditing and Assurance Standards Board has issued proposals aimed at improving auditor reporting on special purpose financial statements.

The exposure draft proposes changes to two of the newly revised International Standards on Auditing: ISA 800, “Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks,” and ISA 805, “Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement.”

The IAASB, which operates under the auspices of the International Federation of Accountants, is asking stakeholders to respond to specific questions in the exposure draft.

To access the document and submit a comment, visit and submit a comment by April 22, 2015.

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