18.10.2010: Proposals Relating to the Withdrawal of Existing IAPSs and Clarification of the Status and Authority of New IAPSs and Proposed IAPS 1000, Special Considerations in Auditing Complex Financial Instruments

These exposure drafts (EDs) seeks views from practitioners and other stakeholders on proposals relating to the withdrawal of existing IAPSs and clarification of the status and authority of new IAPSs, including proposed amendments to the Preface to the International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements.

Also included is the ED of proposed IAPS 1000, Special Considerations in Auditing Complex Financial Instruments. The purpose of the proposed IAPS is to provide background information and guidance to the auditor regarding special considerations when auditing complex financial instruments. Complex financial instruments may be used by financial and non-financial entities of all sizes for a variety of purposes. Some entities have large holdings and transaction volumes while other entities may only engage in a few complex financial instrument transactions. This IAPS is relevant to all of these situations.

Source: GAAP.ru