IAASA has published its 2020 Annual Report, detailing its activities for that year across its areas of responsibility. The Chief Executive’s and Chairperson’s respective statements set out IAASA’s achievements for 2020, and its outlook for future years. Among these achievements are:
- the first publication of the Authority’s quality assurance reports on public interest entity auditors;
- the first fines and sanctions handed down under the Authority’s investigative powers arising from failures identified in its audit inspection regime;
- the issue of a revised ethical standard applying to statutory auditors;
- further preparations for the impact of the UK’s departure from the EU, and its impact on UK based statutory auditors and on the Authority’s issuer population;
- 47 examinations of issuers’ financial statements; and
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the creation of an Organisational Development Unit to support the Authority’s innovation strategy.
The report can be accessed here.
Readers may also wish to review IAASA’s other 2020 publications, the Annual Audit Programme & Activity Report and the Profile of the Profession.