International Framework for Assurance Engagements

The International Auditing and Assurance Standards Board (IAASB) published the International Framework for Assurance Engagements in 2004 and updated it in 2013.

The Amended International Framework for Assurance (the Framework) sets out the high-level principles applicable to all assurance engagements as shown in the structure below including:

The Framework is worth reading because it sets out the high-level principles that lead to the guidance developed in more detail in ISAE 3000 (Revised).

It should be noted that the Framework itself sits below ISQC1-99 The International Standards on Quality Control; and the IESBA Code of Ethics for Professional Accountants, which therefore apply to all assurance engagements performed using ISAE 3000 (Revised), see image below.

A graphic illustrating where the International Framework for Assurance Engagements sits within the various IAASB and related Codes and Standards. 

Further reading

In articles for Audit and Beyond, the Audit and Assurance Faculty’s member magazine, John Ward, consultant and chairman of the ICAEW Audit & Assurance Innovation Panel (TAAIP), offers insights into:

Page reviewed April 2018. Next review due April 2019. https://www.icaew.com/en/technical/audit-and-assurance/assurance/standards-and-guidance/international-framework