The Authority Expresses Its View on a Project of the International Auditing and Assurance Standards Board

الهيئة تبدي وجهة نظرها في أحد مشاريع مجلس المعايير الدولية للمراجعة والتأكيد

The Saudi Organization for Chartered and Professional Accountants (SOCPA), represented by its Auditing Standards Board, stated its view on a project by the International Auditing and Assurance Standards Board (IAASB) to add limited amendments updating the definitions of listed entities and public interest entities across the International Standards on Quality Management, International Standards on Auditing, and International Standard on Review Engagements 2400. SOCPA expressed in-principle support for the proposed amendments, noting they enhance alignment with professional and ethical requirements auditors must observe and better meet stakeholder expectations regarding audits of public interest entities. SOCPA also flagged to the IAASB the importance of considering risks that could affect the audit-quality expectation gap as more projects differentiate professional and ethical requirements by entity type.

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