IAASB Issues Guidance on Auditing Financial Instruments
The International Auditing and Assurance Standards Board (IAASB) has released International Auditing Practice Note (IAPN) 1000, Special Considerations in Auditing Financial Instruments, to provide practical assistance to auditors when addressing valuation and other considerations pertaining to financial instruments.
IAPNs are non-authoritative documents that do not impose additional requirements on auditors beyond those included in the International Standards on Auditing (ISAs) and so are effectively immediately available for use. IAPN 1000 provides background information about financial instruments and discusses audit considerations such as planning, assessing and responding to audit risks, the valuation of financial instruments and appropriate internal controls related to financial instruments.
Start free ReadyRatios
reporting tool now!
Last Accounting News
- IFRS Foundation Publishes IFRS Taxonomy 2018
- IASB Urged to Improve Standards-setting Processes
- FSB Encourages Insurers to Act on the New Insurance Standard
- IFRS Foundation Trustees and the IASB Meets with the Japanese Stakeholders in the Wake of More Japanese companies Adopting IFRS Standards
- IASB Replaces IFRS 4 with the Issuance of a New Standard on Insurance Accounting
- IASB has Proposed Minor Amendments to IFRS 9 Relating to the Measurement of Financial assets with Prepayment Feature
- AAT Has Been Approved as an Apprentice Assessment Organization