The International Auditing and Assurance Standards Board (IAASB) has released a consultation paper outlining its proposed strategy for the five year period 2015-2019 and work program for the 2015-2016 period. The paper outlines three key strategic objectives around financial statement audits, global developments and collaboration, and puts forward a work plan that deploys the IAASB’s resources “in a way that has the greatest potential to serve the public interest”, including a focus on the audits of financial institutions.