IAASB seeks comments on fair value auditing guidance

The International Auditing and Assurance Standards Board (IAASB) is seeking comments on new guidance being developed on fair value auditing.

The paper, “Auditing Complex Financial Instruments,” comes in response to strong demand from auditors and preparers for further guidance on auditing complex financial instruments, especially in illiquid markets.

The paper, available on the International Federation of Accountants’ Web site, is open for comment until Jan. 15.

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