An 'audit is an audit'
An "audit is an Audit"; so agrees the International Federation of Accountants (IFAC). In its policy paper entitled IFAC's support for a single set of auditing standards, IFAC noted that it supports the approach taken by the IAASB to develop a single set of standards that can be applied to all audits - no matter how big or small the entity being audited.
Exposure draft – discontinued operations
The International Accounting Standards Board (IASB) has proposed a revised definition of discontinued operations which could result in fewer items being recognised as discontinued operations than at present.