The International Auditing and Assurance Standards Board has released proposals aimed at fundamental transformation of the structure of the future auditor’s report with the goal of communicating better to users such as investors and financial analysts.
The IAASB’s exposure draft, Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs), responds 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 based on the audit that was performed.
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