The International Auditing and Assurance Standards Board (IAASB) has issued a summary of the feedback it received from participants in its global roundtable discussions on how emerging technologies are affecting audit and assurance engagements and the application of quality management standards.
IAASB chair Tom Seidenstein stated: “The roundtable feedback confirms that our quality management standards remain robust and principles-based, while highlighting areas where additional non-authoritative guidance could support consistent application as technologies continue to evolve.”
Participants broadly agreed that the IAASB’s existing quality management standards provide a strong foundation for managing technology risks, while some noted that the standard-setter could develop additional practical guidance in this area.
In December last year, the IAASB decided to develop non-authoritative material on technology quality management. At its meeting next month, the board will discuss a proposed action plan for the project.
Companies:IAASB
People:Tom Seidenstein
