2016 Standards Exposure Survey Results Comment Period February 1 - PowerPoint PPT Presentation

2016 Standards Exposure Survey Results Comment Period February 1 to April 30, 2016

Standards Exposure: Timeline 90-day public exposure started on February 1, 2016 and ended April 30, 2016. Exposure draft was available in several languages via online survey. May—September, 2016 IIASB evaluated survey results and comments, considered modifications to the exposure draft, and approved the final revision of the Standards . The IIA released revised Standards October 1, 2016. The revised Standards become effective January 1, 2017 .

Global Exposure • 16 languages • 3,000+ webinar attendees • 8,000+ AuditChannel.tv video views • 35,000+ unique web page visits

Global Response • 1,144 survey responses • 76 institutes represented

Overall Standards Exposure Results Overwhelming agreement across 42 survey questions related to the revisions to the Standards 94.4% 100.0% 90.0% 80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 4.2% 1.4% 10.0% 0.0% Agree/Strongly Disagree Strongly Disagree Agree

Top Five Areas of Concern

Proposed Changes to Introduction & Glossary Proposed Change Introduction 94.8% 5.2% Definition of IPPF 96.6% 3.4% Definition of CAE 92.6% 7.4% Definition of Core Principles 95.8% 4.2% Definition of Board 94% 6%

Proposed Changes to 1000 Series Proposed Change Standard 1000 97.5% 2.5% Standard 1010 94.4% 5.6%

Proposed Changes to 1100 Series Proposed Change Standard 1110.A1 94.5% 5.5% Standard 1112 89.8% 10.2% Standard 1112 - Interpretation 86.2% 13.8% Standard 1130.A3 90.3% 9.7%

Proposed Changes to 1200 Series Proposed Change Standard 1210 96.8% 3.2% Standard 1210 - Interpretation 94% 6%

Proposed Changes to 1300 Series Proposed Change Standard 1300 - Interpretation 95.1% 4.9% Standard 1311 - Interpretation 95.3% 4.7% Standard 1312 - Interpretation 91.6% 8.4% Standard 1320 94.8% 5.2% Standard 1320 - Interpretation 94.9% 5.1%

Proposed Changes to 1300 Series (continued) Proposed Change Standard 1321 94.2% 5.8% Standard 1321 - Interpretation 94.1% 5.9% Standard 1322 95.4% 4.6%

Proposed Changes to 2000 Series Proposed Change Standard 2000 - Interpretation 93.1% 6.9% Standard 2010 88.5% 11.5% Standard 2050 96.1% 3.9% Standard 2050 - Interpretation 95.3% 4.7% Standard 2060 94.4% 5.6% Standard 2060 - Interpretation 90.8% 9.2% Standard 2070 94.9% 5.1%

Proposed Changes to 2100 Series Proposed Change Standard 2100 94.4% 5.6% Standard 2110 92.9% 7.1%

Proposed Changes to 2200 Series Proposed Change Standard 2200 96.4% 3.6% Standard 2201 96% 4% Standard 2210.A3 95.9% 4.1% Standard 2210.A3 - Interpretation 95.6% 4.4% Standard 2230 - Interpretation 97.9% 2.1%

Proposed Changes to 2300 Series Proposed Change Standard 2330 97.4% 2.6%

Proposed Changes to 2400 Series Proposed Change Standard 2410 95.9% 4.1% Standard 2410.A1 94.1% 5.9% Standard 2430 95.4% 4.6% Standard 2431 95.9% 4.1% Standard 2450 96.1% 3.9% Standard 2450 - Interpretation 94.8% 5.2%