Consultation: IAASB's Strategy and Work Plan 2024-2027 

ACCA welcomes the IAASB’s Proposed Strategy and Work Plan 2024 – 2027 and commends the IAASB for its significant standard setting progress during the last few years across numerous projects such as ISA for LCE, Audit Evidence, Fraud, Going Concern, Sustainability Assurance etc. all of which are of responsive to public interest demands.

We are also very pleased that the IAASB is considering accelerating the project on Sustainability Assurance for an approval of a draft Exposure Draft during the June 2023 meeting. This will help alignment with work being carried out within the EU in support of the implementation of the Corporate Sustainability Reporting Directive and will also provide additional time for stakeholder input on this important topic.

We do note, though, that notwithstanding the strong progress noted above, our stakeholders are highlighting the need for a balanced approach between a stable platform and being responsive to public interest demands, to allow sufficient time for due process and implementation. Implementation challenges are more prevalent in the case of SMPs and in countries where translation of the standards needs to take place as part of implementation.

To reade the full response, please download the consultation document.