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The Board discussed the draft responses to the IAASB’s Exposure Draft “Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews.” Read the Summary for full details.

The AASB is currently working on analyzing the feedback received on our Exposure Draft, Compilation Engagements to finalize a new standard. But we need your help to get to the finish line! Join the AASB Discussion Group - Finalizing the new Compilation Engagements standard, where AASB Principal, Svetlana Berger, will be sharing information, asking questions, and moderating discussion to help us get to a final standard that works for you, our stakeholders.

At its recent meeting, the Board discussed, reviewed and made decisions on number of topics, including Conceptual Framework and Reporting Model, Public Private Partnership and 2018-2019 Annual Improvements. Read the summary for full details.

The way we manage our activities and meet challenges is constantly guided by ensuring that we serve the public interest. We do this by effectively responding to the needs of stakeholders. Read about the AASB’s 2018-2019 activities and accomplishments in this year’s Annual Report.

The Board discussed topics such as IFRS® Standards, Employee Future Benefits, Combinations, and Contributions, among others.

The IASB has issued an Exposure Draft proposing amendments to IFRS 3 Business Combinations. Canadian stakeholders are encouraged to submit their comments to the IASB by September 27, 2019.

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

The Board discussed several topics during this two-day meeting including, Identifying and Assessing the Risk of Material Misstatement, Public Sector Auditing Standards, Compilation Engagements, and Quality Management. Read the Decision Summary for full details.

This year, our key initiatives focused on continuing to improve some of our foundational oversight processes. Read more about the work we did over the past year and our oversight of the Auditing and Assurance Standards Board and the Independence task Force.

Save the date! On July 18, 2019, the AcSB will host a panel discussion featuring Darrel Scott, IASB Board Member and Advisor on the IASB’s Insurance project, and other experts from the financial reporting community. The AcSB is sponsoring this activity as part of its ongoing work to ensure Canadians are supported during the implementation phase of new standards, and also to ensure Canadian views are heard. Stay tuned for more details in the coming weeks!