The Institute has opened public consultation and comments for proposed changes to one of the fundamental standards issued by IAASB- International Standard on Auditing (ISA) 500, Audit Evidence.

The current ISA 500 addresses an auditor’s responsibility to design and perform audit procedures to obtain sufficient appropriate evidence to draw reasonable conclusions on which to base the auditor’s opinion. The proposed changes:

  • Clarify ISA 500’s purpose and scope and explain its relationship with other standards.
  • Provide a principles-based approach to considering and making judgments about information intended to be used as audit evidence and evaluating whether sufficient appropriate audit evidence has been obtained.
  • Modernize ISA 500 to be adaptable to the current business and audit environment, while considering scalability for different circumstances, including the entity and the auditor’s use of technology, such as automated tools and techniques; and
  • Emphasize the role of professional skepticism when making judgments about information intended to be used as audit evidence and evaluating the audit evidence obtained.

Request for Comments

The Directorate of Standards & Technical Services at the Institute of Certified Public Accountants of Kenya (ICPAK) welcomes comments on all matters that are addressed in the Exposure Draft: Proposed International Standard on Auditing 500 (Revised) Audit Evidence and Proposed Conforming and Consequential Amendments to Other ISAs, including responses to the overall questions, specific questions and general comments as set out in the Explanatory Memorandum.

We furthermore invite respondents to advise us of any Kenyan or East African specific challenges or issues that should be considered. Comments should be submitted via email to by 24th February 2023. All comments will be considered as a public record. A public consultation forum will be held thereafter on 28th February 2023 and registration can be done through the following link:

Alternatively, we invite all other interested stakeholders to submit comments directly to the IAASB via its website by 24 April 2023.

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