As part of its comprehensive program to improve the clarity of international standards, the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) has issued exposure drafts (EDs) of four proposed standards in a new drafting style. It has also issued an exposure draft of Proposed Amendments to the Preface to the International Standards on Quality Control, Auditing, Assurance and Related Services and an Explanatory Memorandum to accompany the EDs. The release of these documents marks the beginning of the IAASB's ambitious 18-month program to re-draft standards and to develop new standards using the new style.
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