Auditing and Assurance Standards Board
Decision Summary
June 27, 2016

This summary of decisions of the Auditing and Assurance Standards Board (AASB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects and other matters, which might change after further deliberations by the AASB. Decisions to publish exposure draft and Handbook material are final only after a formal voting process.


Canadian Auditing Standards (CASs)

Auditor Reporting

The AASB discussed different approaches for reflecting the new auditor reporting standards in the Handbook, including during the transition period prior to their effective date.  The AASB deliberated whether to allow earlier application of the standards in Canada and possible application dates. The AASB plans to issue a Message from the Chair to update stakeholders on the key decisions reached and expects to approve the final standards at its next meeting in September 2016.

Assurance and Related Services Standards (other than CASs)


The AASB discussed issues related to proposed CSOA 5000, Use of the Practitioner’s Communication or Name. The AASB anticipates approving the final standard following resolution of one issue.

Public Sector Auditing Standards

The AASB discussed issues related to compliance audits in the public sector.  The AASB agreed to develop a new assurance and related services guideline to address material contained in Section PS 5300, Auditing for Compliance with Legislative and Related Authorities in the Public Sector.