News Listings

In a new joint report on the audit expectation gap, the Association of Chartered Certified Accountants (ACCA), Chartered Accountants Australia and New Zealand (CA ANZ), Chartered Professional Accountants of Canada (CPA Canada), and the Canadian Auditing and Assurance Standards Board (AASB) provide recommendations for regulators, standard setters, and auditors on tackling fraud and addressing going concern issues. Learn more.

In collaboration with the ACCA, CPA Canada, and CA ANZ, the AASB issued a joint report – Closing the expectation gap in audit – The way forward on fraud and going concern: A multi-stakeholder approach. The report provides recommendations on how to narrow the expectation gap in the areas of fraud and going concern, based on feedback from virtual roundtables held across the globe. Read the report for full details.

The AASB discussed issues related to Technology, Future-oriented Financial Information, Quality Management, the evolution of assurance, CUSP, AASB processes, and the IESBA’s “public interest entity” definition. Read the Summary for more.

Help the AASB develop new guidance on the implementation of KAM reporting. We want to better understand the 2020 experience and develop guidance for our stakeholders on lessons learned. Find out more about this exciting research opportunity and apply by October 31, 2021!

On September 27, 2021, the AcSB responded to the IASB’s Exposure Draft, issued in July 2021. The AcSB’s letter supports the proposed amendment and provides suggestions to further enhance the usefulness of the comparative information presented. The suggestions include broadening the scope of the classification overlay to cover all financial assets and considering additional disclosures. Read our letter to find out more!  

The Board discussed the Public Sector Accounting Discussion Group, the International Strategy – IPSASB Documents for Comment, and the Draft CPA Competency Map Response. Read the Decision Summary for full details.

The Board discussed Cloud Computing, Contributions, FASB Agenda Consultation, Framework for Reporting Performance Measures, Insurance, Leases, Pension Plans, Third Agenda Consultation, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The 2022-2027 Draft Strategic Plan is open for comment, and the deadline is October 15, 2021. The AcSB wants to hear your views on its proposals to address the changing needs of stakeholders.

Learn more about key proposals in PSAB’s Exposure Draft “Employee Benefits, Proposed Section PS 3251,” by watching our on-demand webinar in English or French. Comments for the Exposure Draft are due November 25, 2021.

At its recent meeting, the Committee discussed the AcSB’s 2022-2027 Draft Strategic Plan and financial reporting by private enterprises during the COVID-19 pandemic. Read the meeting notes for full details.