Standards and Policy
IAASA is responsible for adopting the standards applicable to the conduct of statutory audits in Ireland, including standards on professional ethics and internal quality control of audit firms.
The auditing framework for Ireland is based on the Financial Reporting Council’s auditing framework for the UK, which in turn is based on the international standards issued by the International Auditing and Assurance Standards Board. This policy is reviewed on an ongoing basis to ensure that it remains the most effective and efficient approach for the Irish audit market.
Revised standards, reflecting changes to the UK and international standards and adapted for Irish requirements, are issued to ensure that the auditing framework in Ireland continues to reflect international best practice. Where the proposed changes are substantive, a public consultation on the draft standard is issued prior to amendment of the auditing framework.
In addition, IAASA issues guidance to support the work of statutory auditors in applying the standards to particular circumstances and industries.
The auditing standards and guidance for auditors are available here.