Auditing and Assurance Standards Board
Agenda for June 11-12, 2018

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 (May 24, 2018), 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 International Standard on Auditing (ISA) 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures.

Auditor Reporting

  • Discuss issues related to auditor reporting.
  • Approve final revisions to auditor reporting standards related to key audit matter reporting.

Identifying and Assessing the Risks of Material Misstatement

  • Discuss issues related to the IAASB’s project to revise 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 International Standard on Quality Control (ISQC) 1, 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.

Assurance and Related Services Standards (other than CASs)

Compilation Engagements

  • Discuss issues related to the AASB’s project to revise Section 9200, Compilation Engagements.
  • Discuss results of pre-exposure draft consultations.

Reporting on Controls at a Service Organization

  • Discuss issues related to the AASB’s project to revise Canadian Standard on Assurance Engagements (CSAE) 3416, Reporting on Controls at a Service Organization.

Other Discussions

  • Discuss updates on Canadian and international activities over assurance on key performance metrics.
  • Discuss recent developments related to the audits of Small and Medium-sized Entities.
  • Discuss issues related to cryptocurrencies.

AASB Planning

  • Discuss the AASB’s Terms of Reference.
  • Discuss changes made to the AASB processes.