International


The International Federation of Accountants’ international auditing and assurance standards board releases International Auditing Practice Statement 1014, Reporting by Auditors on Compliance with International Financial Reporting Standards, and issues two exposure drafts on assurance engagements and audits of small businesses ( www.ifac.org ). One includes a proposed International Framework for Assurance Engagements and a proposed International Standard on Assurance Engagements 2000, Assurance Engagements on Subject Matters Other Than Historical Financial Information. The other, The Special Considerations in the Audit of Small Entities, Proposed Amendment to International Auditing Practice Statement 1005, presents guidance on distinctive aspects of auditing small organizations’ financial statements. Comments are due June 30.

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