Date posted: 08/02/2024

Have your say on Reporting and Audit & Assurance consultations

Help shape key policy, standards and regulatory developments. The following consultations are currently open for comment.

Superannuation prudential framework - consequential audit updates

APRA is consulting on: 

  • Proposed amendments to Prudential Standard SPS 310 Audit and Related Matters 
  • Discontinuation of the APRA approved form (i.e., auditor's report), and
  • Retiring Prudential Practice Guide SPG 310 Audit and Related Matters

Consultation closes 28 February 2024.

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IFR4NPO Exposure Draft 2: International Non-Profit Accounting Guidance

Addresses four main sector specific accounting issues: Revenue from grants and donations, grant expenses, inventories and foreign currency translation.
Consultation closes 15 March 2024.

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IASB Exposure Draft: Financial Instruments with Characteristics of Equity

Proposes to amend IAS 32 Financial Instruments: Presentation, IFRS 7 Financial Instruments: Disclosures, and IAS 1 Presentation of Financial Statements to clarify the underlying classification principles of IAS 32 to help companies distinguish between debt and equity instruments.

Consultation closes 29 March 2024.

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IAASB Exposure Draft: Proposed Narrow Scope Amendments to ISQMs, ISAs, and ISRE 2400

These proposed revisions have two key objectives:

  • To align definitions and requirements in IAASB standards with the new definitions of "publicly traded entity" (formerly "listed entity"), and "public interest entity" (PIE) in the IESBA Code.
  • To extend the applicability of existing differential requirements for listed entities to PIEs.

Consultation closes 8 April 2024.

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IESBA Exposure Draft: Using the Work of an External Expert 

Proposes an ethical framework to guide professional accountants or sustainability assurance practitioners, as applicable, in evaluating whether an external expert has the necessary competence, capabilities and objectivity in order to use that expert’s work for the intended purposes.

Consultation closes 30 April 2024.

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IESBA Exposure Draft: International Ethics Standards for Sustainability Reporting and Assurance

Proposes a clear framework of expected behaviors and ethics provisions for use by all sustainability assurance practitioners regardless of their professional backgrounds, as well as professional accountants involved in sustainability reporting.

Consultation closes 10 May 2024.

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IAASB Exposure Draft: ISA 240 The auditor's responsibilities relating to fraud in an audit of financial statements

The key changes in the proposed revisions are: defining the expectations in relation to fraud, delineating more robust procedures, and increasing transparency about the auditors’ responsibilities and fraud-related procedures in the auditor’s report.

Consultation closes 5 June 2024.

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