Auditing and Assurance Standards Board
Agenda for December 4-5, 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 (November 8, 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)

Auditing Accounting Estimates

  • Discuss issues related to the IAASB’s project to revise ISA 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures.

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 professional skepticism and innovation.      

Assurance and Related Services Standards (other than CASs)

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 the AASB’s project to revise Section 9200, Compilation Engagements.

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

  • Approve final Handbook material for CSAE 3530, Special Considerations — Attestation Engagements to Report on Compliance, and CSAE 3531, Special Considerations — Direct Engagements to Report on Compliance.

AASB Planning

  • Review a first draft of the 2018-2019 operating plan.