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September, 2018

PIOB Organizes Workshop on Enhanced Reporting

February, 2018

PIOB submits comment letter to the Monitoring Group Consultation

November, 2017

The MG issues Consultation Paper

July, 2017

The PIOB ORGANIZES TECHNOLOGY DISCUSSION IN MADRID

March, 2017

FEEDBACK STATEMENT TO THE STRATEGY CONSULTATION AND THE REVISED PIOB 2017–2019 STRATEGY

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PIOB Organizes Workshop on Enhanced Reporting

Date:  September, 2018

The PIOB organized a half-day workshop on September 26th in Madrid to explore how best to improve assurance on enhanced reporting, and the possible role of standard setters in facilitating this. Professor Mervin E. King delivered the Keynote speech and was followed by two panels. The First Panel explored the different Enhanced Reporting Initiatives and was moderated by Jane Diplock (PIOB member). The panel was comprised of Helen Slinger (Director, Accounting for Sustainability), Laura Girella (Coordinator, International Integrated Reporting Council) and Eric Hespenheide (Chairman, Global Reporting Initiative). The Second Panel provided a platform for Investors, Profession and Standard setting Boards to share perspectives. The panel was moderated by Karen Stothers (PIOB member) and was comprised of José Luis Blasco (Global Head for KPMG Sustainability Services), Marek Grabowski (Member and Chairman of the Emerging External Reporting Task Force, International Auditing and Assurance Standards Board (IAASB), Liz Murrall (Director of Stewardship & Reporting, The Investment Association) and Stavros Thomadakis (Chairman, International Ethics Standards Board for Accountants). Participants included IFAC representatives, the Chairmen of the IAASB, IESBA, IESBA CAG, IAESB and the IAESB CAG, representatives from the Big Four, Regulators, members of the academic community and the PIOB in full. All 45 participants contributed to have active debates at the end of each session. The presentations will be available shortly on the PIOB website. Front row from left to right: Aileen Pierce (PIOB Member), Prof. Mervyn. E. King, Eddy Wymeersch (PIOB Chairman), Jane Diplock (PIOB Member) and Laura Girella (Coordinator, IR Leading Practice and Research Programmes, International Integrated Reporting). Second row from left to right: Helen Slinger (Director Accounting for Sustainability), Liz Murrall (Director of Stewardship & Reporting, The Investment Association), Karel Van Hulle (PIOB Member), Shigeo Kashiwagi (PIOB Member), Marek Grabowski (Member and Chairman of the Emerging External Reporting Task Force, IAASB), Stavros Thomadakis (IESBA Chairman) and Karen Stothes (PIOB Member). Third row from left to right: Eric Hespenheide (Chairman Global Reporting Initiative), Maria Helena Pettersson (PIOB Member), José Luis Blasco (Global Head for KPMG Sustainability Services) and Gonzalo Ramos (PIOB Secretary General).  

filesDownload document: Program Workshop2018.pdf 2933KB

 
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PIOB submits comment letter to the Monitoring Group Consultation

Date:  February, 2018

The PIOB submits its comment letter to the Monitoring Group Consultation Paper on Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest.
The PIOB formulates its opinion based on its experience in overseeing standard setting, after a careful analysis of the consequences that the proposed changes may bring.
The PIOB continues to support a constructive dialogue with the MG and other stakeholders, with the aim to build a standard setting system which is more respondent to the public interest.

filesDownload document: 02.02.18-PIOB-response-to-MG-consultation.pdf 233KB

 
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The MG issues Consultation Paper

Date:  November, 2017

Press release: Call for Comments on reforms to the global audit standard-setting process

https://www.iosco.org/news/pdf/IOSCONEWS480.pdf

Consultation Paper: Strengthening the Governance and Oversight of the International Audit-related Standard-setting Boards in the Public Interest

https://www.iosco.org/library/pubdocs/pdf/IOSCOPD586.pdf

 
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The PIOB ORGANIZES TECHNOLOGY DISCUSSION IN MADRID

Date:  July, 2017

The PIOB organized a discussion on the Impact of Technology on Audit on Friday, June 30th. During the three-hour conference, Professor Miklos Vasarhelyi, PhD, and Ms. Liv Watson presented the findings of their recent research in this field and perspectives from a provider of technological services for auditors. There was a lively debate amongst the 50 attendants, which included the IFAC Leadership, the IAASB, IAASB CAG, IESBA and IESBA CAG Chairs, representatives from the EC, Big Four, the Spanish Financial Regulator (CNMV), members of the academic community and the PIOB in full.

Front row from left to right: Karel Van Hulle (PIOB Member), Eddy Wymeersch (PIOB Chairman), Prof. Miklos Vasarhelyi, Maria Helena Pettersson (PIOB Member), Jane Diplock (PIOB Member), Aileen Pierce (PIOB Member), Shigeo Kashiwagi (PIOB Member) and Gonzalo Ramos (PIOB Secretary General). Back row from left to right: Jules Muis (PIOB Member), Kevin Dancey (PIOB Member), Michel Holm (PIOB Member), Liv Watson and Karen Stothers (PIOB Member).

The presentations are now available.

filesDownload document: Program_Discussion_PIOB_OK.pdf 156KB

 
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FEEDBACK STATEMENT TO THE STRATEGY CONSULTATION AND THE REVISED PIOB 2017–2019 STRATEGY

Date:  March, 2017

The PIOB has issued its feedback statement following comments received to the public consultation of its draft 2017–2019 strategy, launched on 26 August 2016. The feedback statement contains a revised strategy that has been adapted in response to the comments received. Responding to the wide stakeholder input received makes the PIOB confident that its strategy carries the legitimacy of having considered stakeholders’ views.

The PIOB 2017–2019 strategy consultation and feedback statement coincides with the current Monitoring Group (MG) initiative to improve the audit-related standard-setting framework and has been consulted with the MG.

The PIOB 2017–2019 strategy is based on the remit of the PIOB as defined by the current audit standard-setting framework in the fields of audit, assurance, ethics, and education for accountants. The feedback statement summarizes the responses received to the PIOB consultation and the way in which the PIOB takes these responses into account in its strategy for 2017–2019. If the audit-related standard-setting framework should change in the near future, the PIOB will adapt its strategy, as needed, to the reformed framework.

Some respondents highlighted issues that may fall within the scope of possible MG reforms. This document summarizes these responses. Responsibility for the architecture of the standard-setting system is with the MG, which is currently discussing reforms with IFAC. It will therefore be up to the MG to take into account these responses in its reform work.

The release of this document does not preclude any future changes to the mandate, operations, or structure of the PIOB as a result of the current MG reform process.

According to Eddy Wymeersch, PIOB chairman,

“We look forward to the implementation of the new PIOB strategy over the next three years. Public interest oversight is essential to give confidence to stakeholders that standards are responsive to the public interest. The new strategy makes it clear that the PIOB considers the final outcome of standards, and not just the process followed, in conducting its public interest oversight. The PIOB looks forward to the outcome of the reform process led by the MG.”

filesDownload document: FEEDBACK STATEMENT PIOB STRATEGY 2017-2019.pdf 228KB

filesDownload document: Summary of responses in comment letters 83KB

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