Interview of Chair of IAASB by WSJ
January 20, 2020: Tom Seidenstein, chair of the International Auditing and Assurance Board, was interviewed by the Wall Street Journal’s “CFO Journal” reporter Mark Maurer. The discussion focused largely on the IAASB’s remit, Tom’s objectives as the new chair, and the ecosystem and environment in which the IAASB operates and engages. The reporter also focused on how IAASB aligns with organizations such as the PCAOB and AICPA.
According to Elena Churikova, Senior Manager, Governance, at the International Federation of Accountants, “Tom gave a thoughtful interview and his messaging was strong. The result was an informative Q&A piece, which provides nice overall visibility for IAASB and also establishes a new relationship with the WSJ for the IFAC and its independent standard setting boards.
Tom Seidenstein, who began his three-year term as chair last July, spoke with CFO Journal about emerging audit issues and coordinating with other standard setters. Among the many matters discussed, he said: “We’re beginning to assess if the standards are modern enough to meet public expectations on going concern and fraud, and how to deal with an increase in calls for assurance on nonfinancial information. Also, I’ve heard over the years that people complain about the glacial pace of standards setting. We need to have a standard-setting process respond quickly to it to make sure that people trust externally reported financial information.”
For the entire article in the WSJ, please go to: https://www.wsj.com/articles/how-international-auditing-rules-are-shaping-standards-in-the-u-s1579532400?mod=searchresults&page=1&pos=1