Page 11 - Auditing and Assurance Standards Board Annual Report 2014-2015
P. 11
Report on Performance 9

Goal B: Maintain a strong Canadian standard-setting capability to respond to
the needs of Canadian stakeholders for standards

The AASB maintains Attend annual National Objective achieved
Canada’s influence at Standard Setters
the IAASB. meeting; volunteer • The AASB Chair and Director, Auditing and Assurance
to participate on Standards, attended the National Standard Setters meeting
one IAASB initiative in May 2014.
arising from the
meeting. • The Canadian nominee on the IAASB is the Chair of the
IAASB’s project to revise International Standard on Related
Place Canadian Services (ISRS) 4400, Engagements to Perform Agreed-
resources on new upon Procedures Regarding Financial Information. In
IAASB standards addition, the AASB staff will be providing staff support to the
projects that IAASB.
are critical to
the Canadian • The Canadian nominee on the IAASB is a member on the
environment, as task force to address special audit considerations relevant to
measured by the financial institutions
AASB.

Provide an AASB • The AASB responded to the following IAASB documents for
response to all the comment by the response deadline:
IAASB’s documents –– The Auditor’s Responsibilities Relating to Other Information
for comment. –– Addressing Disclosures in the Audit of Financial
Statements
–– Reporting on Audited Financial Statements: Special
Considerations

Obtain an “above • The IAASB does not formally rate the contributions to its
average” assessment efforts made by national standard setters such as the AASB.
rating from the IAASB However, positive informal feedback was received.
(for example, Chair,
selected members and
IAASB technical staff)
annually, as to the
AASB’s contribution to
the IAASB’s activities,
including responses to
the IAASB’s exposure
drafts.
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