Tuesday, 22nd July, 2014: The European Audit Inspection Group (‘EAIG’) has submitted a joint comment letter to the International Auditing and Assurance Standards Board (‘IAASB’) regarding the re-exposure of the proposed International Standard on Auditing (‘ISA’) 720 (Revised): The Auditor’s Responsibilities Relating to Other Information. The comment letter has been signed by 21 EAIG members, including IAASA.
The EAIG’s primary purpose is to create awareness of significant issues and promote cooperation and consistency amongst European audit regulators on inspections. The group shares inspection practices and findings and facilitates discussions on topics related to audit inspections with third parties, such as the standard setters and the audit profession.