Auditor Assistance to Underwriters and Others

OBJECTIVE AND SCOPE OF THIS PROJECT

The AASB has approved a project proposal to revise the 7000 series of Sections in the Handbook (i.e., Sections dealing with securities regulations and other capital markets matters).

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The following matters will be considered:

  • positions previously taken by the AASB on matters that have a public interest impact;
  • projects undertaken by the International Auditing and Assurance Standards Board (IAASB); and
  • recent changes in Canadian securities regulations.

This project involves revising Section 7200, Auditor Assistance to Underwriters and Others.

Key issues that this project proposes to address include the following:

  • Are the four principles listed in paragraph 7200.009 on which Section 7200 is premised appropriate?
  • What is the impact, if any, of changes in Canadian securities regulations regarding compilation reports on pro forma financial information on Section 7200?

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PROJECT NEWS

AASB Decision Summary – January 20-21, 2014
The AASB decided to defer its project to revise Section 7200, Auditor Assistance to Underwriters and Others. The AASB concluded that there is no urgent need to revise this Section for the following reasons:

  • the AASB has reviewed all the requirements in Section 7200 and concluded that the nature and extent of the auditor’s work, including interaction with underwriters, are clearly set out in the Section and continue to be in the public interest; and
  • the AASB is not aware of any significant issues regarding Section 7200 that need to be addressed in the near term.

AASB Decision Summary – January 17-18, 2011
The AASB approved a project proposal to revise the 7000 series of Sections in the CICA Handbook – Assurance (i.e., Sections dealing with securities regulations and other capital markets matters).

 

Disclaimer: This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.