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IAASB: Proposed Amendments Related to Working with Experts
- 07 May 2025
- Auditing and Assurance
- South African Accounting Academy
Summary:
The International Auditing and Assurance Standards Board (IAASB) has issued an Exposure Draft on narrow-scope amendments to its standards arising from the International Ethics Standards Board for Accountants’ (IESBA) using the work of an external expert project.
Article:
These proposed amendments address recent revisions to the IESBA Code related to using the work of an external expert.
These proposed narrow-scope amendments are aimed at maintaining interoperability between IAASB standards and the IESBA’s International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code).
The targeted amendments focus on the following IAASB standards:
- ISA 620, Using the Work of an Auditor’s Expert
- ISRE 2400 (Revised), Engagements to Review Historical Financial Statements
- ISAE 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information
- ISRS 4400 (Revised), Agreed-upon Procedures Engagements
The IAASB invites all stakeholders to comment using the digital Response Template, which is available on the IAASB website at https://www.iaasb.org/exposure-draft/login?destination=/publications/proposed-narrow-scope-amendments-iaasb-standards-arising-iesba-s-using-work-external-expert-project. Feedback is requested by 24 July 2025.
Click here to download the 28-page Exposure Draft:
Relevance to Auditors, Independent Reviewers & Accountants:
- As an accountant, auditor and independent reviewer, you need to comply with International Standards of Auditing, and other assurance and related standards.
- Failure to adhere to the standards may lead to disciplinary action.
- Auditors, Independent Reviewers and Accountants should be aware of the latest auditing and assurance work.
- These proposed amendments address recent revisions to the IESBA Code related to using the work of an external expert.