IAASB Proposes Revisions to Core International Standards on Auditing

Posted 12 August 2026 Written by Acts Online
Category Auditing Standards

Brought to you by SA Accounting Academy: The International Auditing and Assurance Standards Board (IAASB) has issued for public consultation proposed revisions to three core International Standards on Auditing (ISAs) to modernize the risk-based audit framework and address automated tools and technological advances.

In terms of the regulatory framework applicable to South African registered auditors under the Auditing Profession Act, No. 26 of 2005, local practice adopts the ISAs issued by the IAASB as promulgated by the Independent Regulatory Board for Auditors (IRBA). The proposed revisions represent a major milestone in the IAASB’s multi-year project to update auditing standards for technology-driven environments.

The proposed exposure draft establishes a principles-based basis for auditors’ judgments regarding audit evidence and responses to assessed risks. Key structural elements of the proposed updates include:

  • Technology-neutral principles: Guidance enabling the deployment of automated tools and data analytics while maintaining core principles of professional skepticism and audit quality.
  • Clarified risk responses: Precise requirements regarding the design and execution of tests of controls, substantive procedures, and substantive analytical procedures.
  • Framework alignment: Standardized concepts connecting risk assessment, risk response, and the final evaluation of whether sufficient appropriate audit evidence has been obtained.

Click here to download the 123-page IAASB Overall Project Exposure Draft.

What this means for you, your business, or your clients

  • For yourself: Registered auditors and audit team leaders must review the proposed revisions to understand upcoming operational shifts in evaluating automated evidence and performing risk responses.
  • For your business: Audit firms must evaluate their internal audit methodology software, sampling templates, and staff training protocols to prepare for updated standard requirements upon final adoption by IRBA.
  • For your clients: Client management teams and audit committees should expect increased auditor focus on data integrity, IT general controls, and automated reporting systems during financial statement audits.

Originally published at https://accountingacademy.co.za/news/read/iaasb-proposed-revisions-to-core-standards

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