Page 7 - Auditing and Assurance Standards Board Annual Report 2014-2015
P. 7
Report on Performance 5

Report on Performance

This section outlines the AASB’s
objectives and performance indicators
set in its Strategic Plan 2013-2016 and
its actual performance against these
measures for the year ended March 31,
2015.

Darrell Jensen, AASB Vice Chair

Goal A: Set high-quality standards and guidance that meet the needs of
Canadian stakeholders

Objective Performance Status for the year ended March 31, 2015
indicator

Standards for audits Follow the AASB’s More time needed to carefully consider implications of
of financial statements established due new reporting standards and related standards in Canada
and other historical process for all the
financial information IAASB’s ISA projects • The IAASB issued its auditor reporting ISAs and ISA 720
are based on ISAs and issue a final CAS (other information) in January and April 2015, respectively.
issued by the within three months of It also approved revisions to various ISAs related to audit of
IAASB with limited issuance of an ISA by financial statement disclosures in March 2015. The effective
amendments. the IAASB. date of all of these ISAs is for audits of financial statements
for periods ending on or after December 15, 2016.
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