Audit Evidence

Proposed International Standard on Auditing 500 (Revised) Audit Evidence

The IAASB are proposing a number of changes to the ISA 500 Audit Evidence standard which we are keen to get your feedback on.

The proposed standard provides a reference framework for auditors when making judgements about audit evidence throughout the audit.

Proposed changes to the current standard (ISA (NZ) 500) include:

  • Revising the definition of audit evidence;
  • Emphasising the role of professional scepticism;
  • Enhancing and clarifying the auditor’s responsibilities when using information prepared by a management’s expert;
  • Supporting the use of technology, including the auditor’s use of automated tools and techniques; and
  • Adding a “stand-back” paragraph to prompt the auditor, at the conclusion of the audit, to evaluate audit evidence obtained.

Your feedback will be used to inform our submission to the IAASB.

Exposure Draft



7-minute overview

7-minute overview

View our short video providing an overview of the consultation.

Disclaimer: This presentation is based on the exposure draft and not the final standard.


The comment period closed 15 March 2023.


Submission made by NZAuASB

View the submission letter made by the NZAuASB here