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INTERNATIONAL STANDARDS ON AUDITING - FROM CHALLENGE TO OPPORTUNITIES?
The regulatory changes the accountancy profession faces regularly require a substantial effort. In some instances though, it can be translated into new professional opportunities especially if the threads are successfully mitigated by good institutional and professional preparation to address the changes. The prospects of introducing International Standards on Auditing (ISA) in Europe may have a strong impact on the audit practices and firms. That is the reason why EFAA decided to anticipate such important change and launched a consultation on "ISAs - from challenge to opportunities?" that came to a close mid-February 2009 with more than 300 answers received.