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Our Financial Reporting Expert Group contributed to our response to the FRC Invitation to Comment on IAASB Exposure Draft (May 2014): Proposed Changes to the International Standards on Auditing (ISAs) – Addressing Disclosures in the Audit of Financial Statements. We noted that the IAASB’s proposed changes could create more clutter in companies’ annual reports and accounts, which could exacerbate current challenges and issues faced by auditors and companies with materiality. We supported the improvement of existing disclosures, but we objected any changes that would lead to increasing the length of an auditor’s checklist.

Click here to download the response (pdf)

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