The International Auditing and Assurance Standards Board proposed revisions Wednesday to three of its International Standards on Auditing: ISA 330, The Auditor's Responses to Assessed Risks; ISA 500, Audit Evidence; and ISA 520, Analytical Procedures. "Over the past decade, the IAASB has modernized the International Standards on Auditing to strengthen audit quality and respond to an evolving environment," said IAASB chair Tom Seidenstein in a statement. The proposed revisions establish a comprehensive basis for auditors' judgments about audit evidence. They include a revised definition of audit evidence to reflect the current digital environment; more emphasis on the intended purposes of audit procedures; strengthened requirements for evaluating the relevance and reliability of information used as audit evidence; clarification of key concepts; and reinforced application of professional skepticism throughout the audit. The proposals also aim to bolster auditors' responses to assessed risks by clarifying the role of tests of controls, substantive procedures and analytical procedures, encouraging more consistent and effective audit responses.