Audit Evidence

Proposed International Standard on Auditing 500 (Revised) Audit Evidence

The IAASB has recently released an exposure draft of a revised Audit Evidence standard. The XRB is requesting comments on the questions raised on pages 20-21.

The proposed standard provides a reference framework for auditors when making judgements about audit evidence throughout the audit.

Proposed changes to the current standard (ISA (NZ) 500) include:

  • Revising the definition of audit evidence;
  • Emphasising the role of professional scepticism;
  • Enhancing and clarifying the auditor’s responsibilities when using information prepared by a management’s expert;
  • Supporting the use of technology, including the auditor’s use of automated tools and techniques; and
  • Adding a “stand-back” paragraph to prompt the auditor, at the conclusion of the audit, to evaluate audit evidence obtained.

Your feedback will be used to inform our submission to the IAASB.


Exposure Draft


How to provide feedback

Comments can be provided directly by emailing assurance@xrb.govt.nz or using the form below. Comments must be submitted by 15 March 2023.


We intend on publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 2020 also applies.