przejdz do zawartosci


European Federation of Accountants and Auditors for SMEs.

Welcome to EFAA's website: Consultations

Version to print

EFAA Survey on IAASB Auditor Reporting Standards Proposals

EFAA has today issued a report on its findings from a survey that it undertook to gather insight and views on The International Auditing and Assurance Standards Board (“IAASB”) proposed new and revised International Standards on Auditing (“ISAs”) to implement improved auditor reporting.

The proposals break new ground and have been described as the most significant change in reporting in the last half-century.

EFAA’s focus is on SMEs, and as a European representative body with a global outlook, we were keen to undertake a survey to publicise the proposals, engage those who might not otherwise interact with the IAASB and investigate issues particularly relevant to the audit of SMEs that would be important to finalising and implementing the IAASB’s proposals.

The survey concentrated on the key themes in the IAASB’s proposals covering:

  • Audit report and standardized information;
  • Statement of independence;
  • Going concern and emphasis of matter paragraphs;
  • Key audit matters ; and
  • Engagement partner naming.

The survey was carried out in September / October 2013 and EFAA was pleased to receive over 400 responses from more than 50 countries.  In examining responses, it proved possible, because of sufficient numbers within a category, to extract meaningful analysis of differences in views between certain countries and between certain categories of responders. 

In addition to answering the questions responders were encouraged to comment openly on the IAASB proposals and on audit in general. 

The EFAA report analyses the responses to the survey in order to highlight the key messages.  It notes similarities and disparities in views that arise from both national differences and from the capacity of the responders (users, preparers and auditors etc.).  It further reproduces comments from responders and these allow us additional insight into responders experiences and the practical challenges that they face.

The report includes observations and recommendations that we hope will be of interest to the IAASB and to legislators and standard setters in general.  We say this because it was evident from the responders that audit remains a key service outside the sphere of listed entities.  This is despite the fact that many smaller entities are exempt from the requirement for a statutory audit and that, in certain jurisdictions, SMPs may be deterred from auditing by statutory and / or ethical provisions that do not allow the provision of some non-audit services.

Brussels, 4 March 2014

Download EFAA Survey on IAASB Auditor Reporting Standards Proposals



Accounting Guide for SMEs

E&Y have been commissioned to conduct a study on behalf of the European Commission regarding the utilization of financial statements in small and medium sized entities where they are not covered by EU accounting rules.

The purpose of this study is to develop an accounting guide in respect of such financial statements.  Therefore, the current objective is to gather and understand the needs and expectations of SMEs preparing their financial statements in 25 European countries.  This information is collected by means of an online survey.

The links to the survey, by country and language, are set out below.  Any assistance that you can give would be appreciated.

Thank you in advance for your help and cooperation.

Austria - Preparers

Belgium - Preparers

Bulgaria - Preparers

Croatia - Preparers

Czech Republic - Preparers

Denmark - Preparers

Estonia - Preparers

France - Preparers

Germany - Preparers

Greece - Preparers

Hungary - Preparers

Ireland - Preparers

Italy - Preparers

Lithuania - Preparers

Norway - Preparers

The Netherlands - Preparers

Poland - Preparers

Portugal - Preparers

Romania - Preparers

Slovakia - Preparers

Slovenia - Preparers

Spain - Preparers

Sweden - Preparers

Turkey - Preparers

The UK - Preparers

© 2007 EFAA. All rights reserved. Website by:

Home | Contact