News Listings

This At-a-Glance provides an overview of the changes the IAASB made to ISA 540, Auditing Accounting Estimates and Related Disclosures, and related conforming and consequential amendments.

At its December 20, 2018 meeting, AASOC approved a revised AASB Terms of Reference and ratified the AASB’s new Statement of Operating Procedures, to align with both the AcSB and PSAB.

The Board discussed several topics during this two-day meeting including Quality Management, Public Sector Auditing Standards, Compilation Engagements and the AASB’s 2019-2020 Annual Plan. Read the Decision Summary for full details.

The purpose of this publication is to promote consistency in the form and content of practitioners' reports by providing guidance with respect to commonly occurring circumstances. This guide does not amend or override auditing or review standards, the texts of which alone are authoritative, nor does it necessarily address all audit reporting changes resulting from the Canadian Auditing Standards.

We are proud to share that Eric Turner, Director, AASB was appointed to the International Auditing and Assurance Standards Board (IAASB), effective January 1, 2019. Eric has previously acted as technical advisor to the IAASB’s current Canadian representative, Ron Salole.

Are you interested in exploring ways to enhance trust and credibility in information beyond traditional financial statements? CPA Canada and staff of the Audit and Assurance Standards Board are seeking auditors, audit committee members and preparers of financial information to participate in a research initiative on this topic. Sign up today!

Listen to this 60-minute IAASB webinar to understand how the proposed revisions to ISA 315 (Revised) aim to enhance the auditor’s procedures in identifying and assessing the risks of material misstatement, ultimately improving audit quality. Webinar available in English only.

Webinar – Toward a New Standard on Compilation Engagements

August 14, 2018. Tune in to this webinar on September 26 (English) and September 28 (French) to learn about the AASB Exposure Draft for CSRS 4200, Compilation Engagements, and how you can provide input to our proposals.

The AASB unanimously approved an exposure draft of a proposed new standard on compilation engagements to replace Section 9200, Compilation Engagements. Set to be issued September 4, 2018, comments will be due November 30, 2018. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay tuned for more!

Approved! Exposure Draft of a Proposed Revised Standard on Identifying and Assessing the Risks of Material Misstatement

The AASB unanimously approved a Canadian exposure draft of revised CAS 315. The exposure draft is based on the IAASB’s exposure draft of proposed changes to ISA 315, with no proposed Canadian amendments. Set to be issued September 7, 2018, comments will be due November 2, 2018. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay tuned for more!