Comments of the AFAANZ Auditing and Assurance Standards Committee on Proposed International Standard on Auditing 600 (ED 600)

Coram, Paul; Harding, Noël; Hay, David; Khan, Jabbar; Prasad, Ashna

doi:10.1111/acfi.12783

Cited by 3 publications

(2 citation statements)

References 32 publications

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“…We agree. However, the IAASB should be aware of research on the problems associated with group audits (Coram et al., 2021).…”

Section: Groups and ‘Consolidated’ Sustainability Informationmentioning

confidence: 99%

Comments on Exposure Draft for Proposed ISSA 5000, sustainability assurance engagements by the Auditing and Assurance Standards Committee of AFAANZ

Hay,

Harding,

Biswas

et al. 2024

Accounting & Finance

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The Exposure Draft for Proposed International Standard on Sustainability Assurance (ISSA) 5000 has been issued by the International Auditing and Assurance Standards Board (IAASB) because there is increasing demand by stakeholders for assurance of sustainability information. Our recommendations include: (i) a more flexible approach to ethics and quality management instead of the requirements for standards that are at least as demanding as the accounting profession's standards; (ii) more differentiation between the requirements for limited as opposed to reasonable assurance and (iii) more cautious use of the term materiality and clearer definitions of the different materiality concepts to avoid potential confusion.

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“…We agree. However, the IAASB should be aware of research on the problems associated with group audits (Coram et al., 2021).…”

Section: Groups and ‘Consolidated’ Sustainability Informationmentioning

confidence: 99%

Comments on Exposure Draft for Proposed ISSA 5000, sustainability assurance engagements by the Auditing and Assurance Standards Committee of AFAANZ

Hay,

Harding,

Biswas

et al. 2024

Accounting & Finance

Self Cite

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“…Their findings may have poor generalisability due to missing a combination of these crucial factors in their studies. Due to these limitations, there have been several recent calls to conduct further research on issues relating to ISAs adoption (e.g., Coram et al, 2021; Haapamäki & Sihvonen, 2019; Monfardini & von Maravic, 2019). Therefore, this study directly responds to such calls by examining the key transnational antecedents of the worldwide diffusion of ISAs.…”

Section: Introductionmentioning

confidence: 99%

Diffusion theory, transnational antecedents and International Standards on Auditing adoption around the world

Elmghaamez

Elmagrhi

2022

Int J Auditing

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This paper investigates the impact of four key transnational factors (i.e., cultural, educational, legal and political factors) on the diffusion and early adoption of International Standards on Auditing (ISAs). Using data for 162 countries over 1995–2014 (i.e., 3240 observations) and drawing on distinctive insights from diffusion theory, we found that common law countries tend to adopt ISAs faster than civil law countries. Our findings also show that vigorous legal enforcement and shareholder protection regimes promote the early adoption of ISAs, whereas robust judicial efficiency systems constrain the early adoption of ISAs. In addition, our results show that higher literacy rates and educational attainment simulate the earlier diffusion of ISAs. We also find that higher levels of individualism and uncertainty avoidance, but low levels of power distance cultural values, boost the early adoption of ISAs. Finally, our results report that countries with strong political stability and control of corruption tend to adopt ISAs faster than those with solid government effectiveness.

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Comments on recent International Ethics Standards Board for Accountants Exposure Drafts regarding sustainability assurance and the use of external experts

Hay,

Harding,

Botica Redmayne

et al. 2024

Accounting & Finance

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We commend the International Ethics Standards Board for Accountants for the initiative in releasing the two related Exposure Drafts regarding sustainability assurance and the use of external experts. There is a need for assurance over sustainability information, and for that assurance to be provided by professional people who have the appropriate guidance on ethical issues. There is an increasing need to draw on the work of experts and an increasing possibility that inappropriate reliance on that work by professional accountants and sustainability assurance practitioners may threaten compliance with the fundamental principles of the code of ethics.

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Comments of the AFAANZ Auditing and Assurance Standards Committee on Proposed International Standard on Auditing 600 (ED 600)

Cited by 3 publications

References 32 publications

Comments on Exposure Draft for Proposed ISSA 5000, sustainability assurance engagements by the Auditing and Assurance Standards Committee of AFAANZ

Comments on Exposure Draft for Proposed ISSA 5000, sustainability assurance engagements by the Auditing and Assurance Standards Committee of AFAANZ

Diffusion theory, transnational antecedents and International Standards on Auditing adoption around the world

Comments on recent International Ethics Standards Board for Accountants Exposure Drafts regarding sustainability assurance and the use of external experts

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