ICAP Survey on Auditor Reporting on Financial Statements

The auditor’s report increases reliability of financial statements and thus their value to all users.

Given the significance of the auditor’s report in the public interest, the Institute adopted the new auditor reporting standards issued by the International Auditing and Assurance Standards Board (IAASB). The auditors’ reports in Pakistan are, accordingly, issued in accordance with the new auditor reporting standards and format.

The Auditing Standards and Ethics Committee of the Institute is conducting an online survey to seek input of the stakeholders on the relevance and value addition of the audit report to the audit process and quality. The purpose of survey is to understand the practical challenges and concerns of the stakeholders in implementation of the auditor reporting standards.

The survey is designed for the preparers of financial statements and those charged with governance of the listed companies. The survey will be open till February 22, 2021. Click here for the survey.

For any questions, please contact Farheen Mirza, ICAP Technical Services Department at farheen.mirza@icap.org.pk