Technical Alert 11/2020 – October 2020 Highlights

October 2020 Highlights

Standard-setting updates and other developments

IASB Update

• Compilation of Agenda decisions

IAASB Update

• Revised Quality Management Standards (ISQM 1, ISQM 2, and ISA 220 Revised)
• Support materials for using automated tools and techniques in audit procedures
• The Consideration of Climate-Related Risks in an Audit of Financial Statement

IESBA Update

• Exploring the IESBA Code Installment 10 - Pressure to Breach the Fundamental Principles
• AICPA, IESBA and IAASB Jointly Issue Guidance on Important Considerations Regarding the Use of Specialists in the COVID-19 Environment
• Revisions to IESBA Code to elevate the importance of accountants’ societal role and strengthen mindset expectations

EFRAG Update

• EFRAG Endorsement status report update
• EFRAG Draft Endorsement Advice IFRS 17 Insurance Contracts

Publications and articles relevant to the profession

• IFRS Foundation Trustees consult on global approach to sustainability reporting and on possible Foundation role, IFRS Foundation
• Introduction to Anti-Money Laundering for Professional Accountants, IFAC & ICAEW
• Webinar - Implementing ESEF, Accountancy Europe