IAASB aims for changes to summary financial statement reporting

Proposal is designed to create 'a balanced approach.'

The IAASB proposed changes to reporting on summary financial statements.

The exposure draft for International Standard on Auditing (ISA) 810, Engagements to Report on Summary Financial Statements, deals with the auditor's responsibilities relating to an engagement to report on summary financial statements derived from financial statements audited in accordance with ISAs by that same auditor.

The IAASB is proposing limited conforming amendments to ISA 810 as a result of the issuance of its new and revised auditor reporting standards, which address auditor reporting on general-purpose financial statements.

Comments on the ED can be made at the IAASB website. The comment deadline is Nov. 2.

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.