During our March 2025 meeting, we approved:

• ISA 240 (Revised), The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements. The standard will be effective for periods beginning on or after December 15, 2026, which is the same effective date as for our recently revised going concern standard.
• A project proposal and exposure draft on narrow-scope amendments to IAASB standards arising from the IESBA’s Using the Work of an External Expert project.

• Audit Evidence and Risk Response (Project Stage: Exposure Draft Development) – We discussed selected topics related to the revision of ISA 330, The Auditor’s Responses to Assessed Risks; ISA 500, Audit Evidence; and ISA 520, Analytical Procedures. The topics discussed included stand-back requirements, the description and placement of automated tools and techniques, and tests of controls and substantive procedures.
• Review of Interim Financial Information (ISRE 2410) (Project Stage: Information Gathering) – We discussed issues and challenges resulting from the project team’s information gathering activities and a draft version of the project proposal.
• Technology Position – We discussed a revised version of the catalog of issues relating to technology to further shape our work program to consider the impact of technology.
• ISSA 5000 Implementation – We discussed the adoption and implementation activities related to ISSA 5000.

Looking ahead, our work efforts over the coming months will focus on:

• Releasing of the exposure draft on proposed narrow-scope amendments to IAASB standards arising from the IESBA’s Using the Work of an External Expert project.
• Continuing work related to our Technology, including starting a project to modernize standards in the ISA 500 series and starting information-gathering relating to quality management matters specific to technology. We will also continue our work on the Audit Evidence and Risk Response project, which has a significant technology component.
• Developing and issuing of a range of materials to support the implementation of our standards:

• ISSA 5000 on sustainability assurance: We expect to publish a joint IAASB-IESBA frequently asked questions document, example assurance reports and hold a webinar series.
• ISA for LCE: We expect to publish a frequently asked questions document.
• Going Concern: We expect to publish a frequently asked questions document and video content.

To support effective implementation of ISSA 5000, our sustainability assurance standard, the IAASB invites stakeholders to submit implementation questions or matters for the IAASB’s consideration.

Submission Criteria

Submissions should meet the following criteria:

• Be directly related to the implementation of ISSA 5000.
• Provide a detailed description of the question or matter, including sufficient context for proper understanding.
• Be relevant to a broad group of stakeholders or common across multiple jurisdictions, as ISSA 5000 serves as a global baseline. The IAASB does not focus on national implementation or adoption issues, nor on assurance methodology.