NEWYORK—The International Auditing and Assurance Standards Board (IAASB), issued in its April 2007 meeting, exposure drafts of proposed International Standards on Auditing (ISAs) .These exposure drafts are considered part of the IAASB's program to redraft existing standards and to develop new and revised standards following the new drafting conventions.
The following proposed standards have been redrafted :
- International Standard on Auditing ISA 200 (Redrafted) “ Overall Objective of the Independent Auditor, and the Conduct of an Audit in Accordance with International Standards on Auditing”
- International Standard on Auditing ISA 250 (Redrafted), “The Auditor's Responsibilities Relating to Laws and Regulations in an Audit of Financial Statements”
- International Standard on Auditing ISA 500 (Redrafted) “Considering the Relevance and Reliability of Audit Evidence.”
Comments on the exposure drafts are requested by September 15, 2007. The exposure drafts may be viewed on the International Federation of Accountants (IFAC) website.
IAASB is an independent standard setting board within the IFAC. Its objective is to serve the public interest by setting high quality standards on auditing, quality control, review, other assurance and related services.
For more information please visit the following website: www.ifac.org