Pitopito Kōrero

February 2024

Tom Seidenstein to visit New Zealand

We will be hosting two in-person events to coincide with Tom’s visit this month. The first will provide a perspective on the IAASB’s strategy and work programme to support audit quality, and the second will explore the direction of travel for assurance over non-financial information.

For more information or to register interest in attending visit our events page.

Tom Seidenstein
Chair of the International Auditing and Assurance Standards Board

Spotlight on Sustainability Assurance

In January, the International Ethics Standards Board for Accountants (IESBA) released two Exposure Drafts for consultation. These cover:

  • Ethics and Independence Considerations for Sustainability Assurance Practitioners

  • Requirements for the Use of Experts

The IESBA intends the sustainability revisions to be stand-alone, profession agnostic and able to be implemented by all sustainability assurance practitioners.

For further information on these proposals or to register interest in participating in a focus group discussion, see the consultation page.

Update on PBE threshold review

Late last year, we released a consultation document proposing to increase the Public Benefit Entity (PBE) tier size thresholds from $2 to $5 million total expenses for tier 3, and from $30 to $33 million total expenses for tier 2 PBEs.  

35 submissions have been received which indicate there is broad support for the increase. The XRB Board will consider the proposal at their 21 February meeting and an announcement is likely to be made shortly after.  

Thank you to everyone who took the time to provide feedback.  


In Brief


In person events

  • Roundtable discussion with Tom Seidenstein Chair of the IAASB
    10.30am - 12.30pm, 27 February

  • What is the direction of travel for assurance over non-financial information?
    2.30pm - 4.00pm, 27 February


  • IPSASB Strategy and Work Programme 2024-2028 Consultation Closes 15 February

  • Financial Instruments with Characteristics of Equity Closes 29 March

  • Narrow Scope Amendments: Public Interest Entities Closes 8 April

  • Proposed changes to the Code of Ethics for sustainability assurance and the Use of Experts Closes 15 April

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