News Listings

At its recent meeting the Committee discussed the accounting for Combinations.

At its public meeting in Toronto, the Council discussed the activities of the AASB and other related matters. The Council also heard an update on the activities of its Performance Review Committee and its Nominating and Governance Committee. Read the full report for more information.

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.

At its recent meeting, the Committee discussed a number of topics including Revenue, Related Party Transactions, narrow scope amendments, and the relevance of financial statements.

During a conference call, the Council discussed the AASB’s due process activities for deferring disclosure of the engagement partner name as required in CAS 700, Forming an Opinion and Reporting on Financial Statements. Read the full report for more information.

Our revised due process manual provides a clear explanation of our standard-setting due process activities and includes details of how you can participate in the process. We use plain language, simplified content, and visuals, to ensure the rigorous set of procedures we undertake to set standards is easy for you to understand. Visit the Due Process page to learn more.

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.

PSAB will extend the end date of its current 2017-2020 Strategic Plan by oneyear to March 2021.  Extending the current strategic plan will allow input on key strategies that will inform the development of the next strategic plan. Feedback on this extension should be submitted to PSAB by March 1, 2019.

The IASB has issued an Exposure Draft proposing amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets. Canadian stakeholders are encouraged to submit their comments to the IASB by April 15, 2019.