Assurance and Related Services Standards (other than CASs)

WHAT'S NEW

Webinar – Revised Standard on Engagements to Review Historical Financial Statements: Re-exposure Draft
May 13, 2015. Tune into this webinar on June 5, 2015 (English) and June 8, 2015 (French) to hear about what is being proposed and how you can provide input to the AASB’s Re-exposure Draft of CSRE 2400, Engagements to Review Historical Financial Statements.

AASB Re-exposure Draft – Engagements to Review Historical Financial Statements
May 5, 2015. The AASB has issued a Re-exposure Draft that proposes a new standard dealing with engagements to review historical financial statements to replace the existing review engagement standards. Stakeholders are encouraged to submit their comments, on the form provided, by July 10, 2015.

Exposure Draft – Auditor’s Consent to the Use of a Report of the Auditor Included in an Offering Document
March 27, 2015. The AASB has issued an Exposure Draft that proposes limited amendments to Section 7150 primarily to address the requirements of stock exchanges (recognized by securities regulatory authorities in Canada) for the auditor’s consent to include certain statements. Stakeholders are encouraged to submit their comments by May 1, 2015.

AASB Exposure Draft – Association
March 9, 2015. The AASB has issued an Exposure Draft of a proposed new standard that would replace existing Section 5020, Association. Stakeholders are encouraged to submit their comments, on the form provided, by July 10, 2015.

IAASB Survey – Quality Control
February 27, 2015 – The IAASB has issued an information-gathering survey on quality control. Its purpose is to identify issues encountered by small- and medium-sized practices in complying with the requirements of ISQC 1 and ISA 220. Canadian stakeholders are encouraged to respond to the IAASB by March 27, 2015.

Webinar – Joint Policy Statement Concerning Communications with Law Firms: Improvements Proposed
January 12, 2015. Tune in to this webinar on February 10, 2015 to learn about the Exposure Draft that was recently issued by the AASB and the JPS Review Committee of the Canadian Bar Association.

Exposure Draft – Joint Policy Statement Concerning Communications with Law Firms Regarding Claims and Possible Claims in Connection with the Preparation and Audit of Financial Statements
November 27, 2014. The AASB and the JPS Review Committee of The Canadian Bar Association have issued an Exposure Draft that proposes a revised Joint Policy Statement. Stakeholders are encouraged to submit their comments by April 6, 2015.

Exposure Draft – Auditor’s Consent to the Use of the Auditor’s Report Included in a Business Acquisition Report
October 29, 2014. The AASB has issued an Exposure Draft of a proposed new standard that would replace existing Section 7500, Auditor’s Consent to the Use of the Auditor’s Report in Connection with Designated Documents. Stakeholders are encouraged to submit their comments, on the form provided, by January 30, 2015.

CPA Magazine Standards Speak – Reporting on Matters Beyond the Financial Statement: What You Need to Know
September 4, 2014. In this month’s column, Jacqui Kuypers, AASB staff member, discusses the new standard, CSRS 4460, Reports on Supplementary Matters Arising from an Audit or a Review Engagement, issued in June 2014. Get to know who is affected by the standard, what it involves, and how reports on supplementary matters will change.

Basis for Conclusions – Section 7060, Auditor Review of Interim Financial Statements
September 2, 2014. This document summarizes the process followed in developing this standard and the conclusions reached by the AASB regarding significant comments received in response to its Exposure Draft.

Volunteer Opportunity – Compilation Engagements Task Force
August 14, 2014.  The AASB is currently seeking members for its new Compilation Engagements Task Force. Applications should be submitted no later than Friday, October 10, 2014.

CPA Magazine Standards Speak – AASOC: An Unseen Facet of Audit Standard Setting
August 6, 2014. In this month’s column, Phil Cowperthwaite, AASOC member, explains the role of the Council in the standard-setting process. Read Phil’s thoughts on how AASOC enables the development of high-quality and relevant standards in Canada – all the while protecting the public interest.

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