Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on International Auditing and Assurance Standards Board Exposure Draft, Proposed International Standard on Auditing 220 (Revised): Quality Management for an Audit of Financial Statements

Abstract

SUMMARY In February 2019, the International Auditing and Assurance Standards Board (the Board or IAASB) issued a request for comment on its Exposure Draft, Proposed International Standard on Auditing 220 (Revised): Quality Management for an Audit of Financial Statements (ED-220). ED-220 explicitly requires the engagement partner to demonstrate sufficient and appropriate involvement in all phases of the audit, it describes certain activities that must be performed by the audit engagement partner, and it explicitly acknowledges the role of audit firm-level policies and procedures and the changing complexity of audit engagement teams. The comment period ended on July 1, 2019. This commentary summarizes the participating committee members' views on selected questions posed by the IAASB. Data Availability: ED-220, including questions for respondents, is available at: https://www.ifac.org/publications-resources/exposure-draft-international-standard-auditing-220-revised-quality-management.

Mapping the state of expanded audit reporting: a bibliometric view

“…Second , some research reviewed studies about EAR, which include the following: qualitative reviewing the published articles regarding EAR (Luo, 2021; Velte and Issa, 2019); discussion of the EAR-related regulations and standards (Brown et al , 2019; Warzocha, 2018; Clikeman, 2018; Wilson, 2021; Lawson and Schwartz, 2014); reviewing the audit reporting practices in a specific country, like Australia (Kend and Nguyen, 2020); or a specific industry (Öztürk, 2022); and exploring the historical trend of the audit report (Pandit and Baker, 2021; Minutti-Meza, 2021).…”