Thursday, September 24, 2020
As the auditor’s role in relation to fraud and going concern in audits of financial statements continues to receive heightened public attention, amplified by high-profile corporate failures, the IAASB has recognised the need to further explore these topics, and has released a Discussion Paper on Fraud and Going Concern in an Audit of Financial Statements to seek feedback. The feedback collected by the IAASB will inform decisions about possible further actions on these topics. The AUASB seeks feedback from Australian stakeholders to inform them in providing feedback to the IAASB on these important topics.
The AUASB invites all stakeholders to comment on all or some of the questions contained in this paper by 9 November 2020 via the AUASB website. Stakeholders may elect to provide comments directly to the IAASB. In this case, the AUASB request a copy is provided to us.
The AUASB will also hold a webinar to enable stakeholders to provide feedback directly. Further details to come.
Feedback and queries on this topic are welcome and should be directed to [email protected] or by telephone +61 3 8080 7400.