For some time, there have been calls from users for the auditor’s report to provide more than a pass/fail opinion.  In response to these calls, the International Auditing and Assurance Standards Board (IAASB) issued new requirements on auditor reporting.Without changing the scope of an independent audit, the new requirements open the door for the auditor to give users more insight into the audit and improve transparency. By clarifying what the independent audit really is, the new auditor’s report will help enhance the nature of communications with stakeholders and enable users to recognise the value of audit.In this publication, you will find out how these changes will impact your company, the critical factors for a successful implementation and steps to take to prepare for the changes.