New international standard to redefine audit role

New international guidance is being considered which could redefine the characteristics of an “audit professional”.

The International Accounting Education Standards Board (IAESB) is seeking feedback on a revised education standards, including better guidance on “who is an audit professional”.

“We want to make IES 8 clearer and more readable, and reduce ambiguity,” said Mark Allison, IAESB chair.

“In revising IES 8 and developing implementation guidance for this standard, we intend to ensure consistent application, assist in its adoption, and facilitate international implementation.”

Further Reading: A Consultation Paper on the Revision of International Education Standard 8