Page 5 - Auditing and Assurance Standards Board Annual Report 2014-2015
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Overview 3

Overview

This report discusses the activities and achievements of the Auditing and Assurance Standards
Board (AASB) for its operating year ended March 31, 2015. The performance indicators
presented on the following pages provide an overview of the AASB’s accomplishments in 2014-
2015 and how it is progressing in relation to its long-term goals and objectives.

The AASB receives its terms of The AASB normally meets five times a year.
reference from the Auditing and
Assurance Standards Oversight
Council (AASOC). AASOC also
appoints members to the AASB
and publishes its own public
report annually in the fall. The
AASB’s strategic plan sets out
indicators for assessing the
success of its work during the year
in meeting its goals and objectives.

Mission and Vision of the AASB

The AASB’s mission is to serve the public interest by setting high-quality standards and
guidance that enable the public accounting profession to provide effective auditing, other
assurance and related services.

The AASB’s vision statement is to ensure that Canada continues its strong capability for setting
high-quality standards for auditing, other assurance and related services that decision-makers
value.

Auditing and other assurance and related services standards are only one of a number of
factors that affect the quality of service a practitioner provides. Other factors include:
• professional development and training;
• personal experience and competence;
• an accounting firm’s quality control procedures;
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