Following public consultation, IAASA have issued revised versions of:
- the Ethical Standard for Auditors (Ireland)
- certain International Standards on Auditing (Ireland) and the International Standard on Quality Control (Ireland) 1
- the Glossary of Terms, which defines the terms used in the Irish auditing framework
The main changes to the standards, which are designed to improve audit quality and enhance public confidence in audit in Ireland, are summarised in the feedback statement which is available here.
IAASA recognises that this is a challenging time due to the impact of Covid-19 and that working arrangements have changed significantly in recent months. Therefore, the revised standards are effective for audits of financial statements for periods beginning on or after 15 July 2021, with early adoption permitted.
For more information please contact simona@dvmannion.ie