Auditing and Assurance Standards Board
Agenda for September 14-15, 2017

The topics the Auditing and Assurance Standards Board (AASB) plans to discuss, and anticipated actions, if any, are outlined below. Although current at the date prepared (August 21, 2017), this agenda is subject to change. More information regarding projects of the International Auditing and Assurance Standards Board (IAASB) is available at www.ifac.org/.

Canadian Auditing Standards (CASs)

Auditor Reporting

  • Discuss issues related to auditor reporting.

Group Audits

  • Discuss issues related to the IAASB’s project to amend ISA 600, Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors).

Identifying and Assessing the Risks of Material Misstatement

  • Discuss issues related to the IAASB’s project to amend ISA 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment.

Quality Control

  • Discuss issues related to the IAASB’s projects to revise ISQC 1, International Standard on Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements, and ISA 220, Quality Control for an Audit of Financial Statements.     

Other IAASB Projects

  • Discuss issues related to the IAASB’s projects on data analytics and professional skepticism.  

Assurance and Related Services Standards (other than CASs)

Agreed-upon Procedures

  • Discuss issues related to the IAASB’s projects on revisions to ISRS 4400, Engagements to Perform Agreed-upon Procedures Regarding Financial Information

Auditor’s Consent to the Use of the Auditor’s Report in Connection with Designated Documents

  • Discuss issues related to revising Section 7500, Auditor’s Consent to the Use of the Auditor’s Report in Connection with Designated Documents.

Compilation Engagements

  • Discuss issues related to revising standards for Compilation Engagements.

Public Sector Auditing Standards

  • Discuss next steps related to developing guidance to replace Section PS 5400, Value-for-Money Auditing in the Public Sector; Section PS 6410, Planning Value-for-Money Audits in the Public Sector; and Section PS 6420, Knowledge of the Audit Entity in Planning Value-for-Money Audits in the Public Sector.

Special Reports – Assurance on Compliance with Agreements, Statutes and Regulations

  • Review comments received from Canadian stakeholders on the AASB’s Re-exposure Draft of proposed CSAE 3530, Special Considerations — Attestation Engagements to Report on Compliance, and CSAE 3531, Special Considerations — Direct Engagements to Report on Compliance.

AASB Planning

  • Discuss the AASB’s process related to re-exposure considerations.
  • Discuss issues regarding the use of term “listed entity” versus “reporting issuer”.