The Malta Institute of Accountants (MIA) has recently submitted its comments on the IAASB Exposure Draft (ED) Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs).

 

The ED includes a new proposed ISA titled Communicating Key Audit Matters in the Independent Auditor’s Report. This proposed ISA directs auditors of financial statements of listed entities to communicate in their report those matters that, in the auditor’s professional judgment, were of most significance in the audit of the financial statements. 

 

Among other enhancements, the IAASB is also proposing requirements for auditors to include specific statements about going concern in their reports, to make an explicit statement about the auditor’s independence from the audited entity and, for listed entities, to disclose the name of the engagement partner in the auditor’s report. 

 

The MIA comment letter is downloadable by Members from the ‘MIA Comment Letters’ e-library on the Institute's website which can be accessed after log in.