About the AASB
The Auditing and Assurance Standards Board (AASB) establishes standards for assurance and related services engagements. We contribute to the development of International Standards on Auditing (ISAs), which we adopt as Canadian Auditing Standards (CASs), by participating in consultations and activities of the International Auditing and Assurance Standards Board (IAASB) to ensure Canadian entities’ auditing needs are considered.
The general public and stakeholders in the Canadian economy need reliable information to make financial decisions. Our strong and clear auditing, assurance and related services standards raise the credibility of public accountants.
The Auditing and Assurance Standards Oversight Council (AASOC) oversees our activities and ensures we follow our rigorous due process. AASOC appoints our members and provides input on strategy and priorities. AASOC also assesses and reports to the public on our performance.
We serve a number of stakeholders, including:
- public accountants;
- financial statement preparers;
- the public;
- investors, creditors, analysts and bond raters;
- boards and audit committees;
- regulators; and
13 voting volunteer and two non-voting members make up the AASB. View current AASB members.
Our membership consists of a diverse group of members with a range of experience from various locations across Canada.
The Board’s support staff includes:
- a Director;
- six principals; and
- one administrative assistant.
The Board also hires consultants as the need arises.
We normally meet five times a year. Additional meetings and conference calls may take place.
Our relationship with CPA Canada
Chartered Professional Accountants of Canada (CPA Canada) provides funding, staff and other resources to support an independent standard-setting process.
CPA Canada and the AASB function at arm’s length from one another. As a result, we carry out our standard-setting operations in an independent manner.