To keep in step with the pace of the IAASB’s issuance of its pronouncements, the AASC reviews IAASB’s proposed pronouncements as soon as these are released for comment. AASC issues its corresponding exposure drafts after its review of the IAASB’s proposed pronouncements. AASC exposure drafts are placed on the website and widely distributed for public comment.

The status of adoption provides information on the status of adoption by the AASC of specific final or proposed IAASB pronouncements.

The AASC has adopted the following IFAC Implementation Guides:

“Guide to Using International Standards on Auditing in the Audits of Small-and Medium-sized Entities,” released by the IAASB in December 2007
“Guide to Quality Control for Small-and Medium-sized Practices” released by the IAASB in March 2009

The IFAC Guides and accompanying Philippine Preface to the Guide, prepared by the AASC, are available here at the AASC website.