Auditing and Assurance Standards Board Seeks New Leader

Media Release / Communiqué

    

Auditing and Assurance Standards BoardTORONTO, ON June 9, 2017 – Canada’s Auditing and Assurance Standards Board (AASB) is seeking an exceptional individual to serve as its next Chair, for an initial term of up to five years. This is a remunerated, part-time position and will require a commitment of 1,000 hours per year.

As Chair, you understand and fully support the AASB’s current strategic direction and are well equipped to take the helm at this time. A visible and experienced member of the auditing and assurance community, you have the vision, skills and passion to encourage the creation of high-quality standards, reach out to and engage diverse stakeholders in this critical process, further develop the AASB’s strategic role in standards implementation and ensure that future strategic plans remain responsive to the evolving needs of AASB stakeholders.

The AASB is an independent, standard-setting body that establishes Canadian standards for auditing, other assurance and related services engagements. As Canada is committed to adopting International Standards on Auditing (ISAs) developed by the International Auditing and Assurance Standards Board (IAASB), the AASB is a key contributor to the development of ISAs and actively supports the IAASB standard-setting process and post-implementation review initiative. Before adoption, the AASB also determines whether each international standard has adequately addressed any particular Canadian public interest needs and makes any necessary amendments. Finally, the AASB continuously monitors local issues and trends and undertakes additional standard-setting activities as required to meet emerging needs for new or updated Canadian standards in a timely manner. All final standards are published in the CPA Canada Handbook – Assurance.

Independently set standards that respond to the needs of Canadian stakeholders are critical to promoting and maintaining public confidence in the quality and reliability of auditing, other assurance, and related services. Sound implementation and application of these standards also contributes to enhanced quality and consistency of practice and greater transparency and accountability in financial reporting.

The current part-time, volunteer AASB Chair is Darrell Jensen, FCPA, FCA, a partner in EY’s professional practice group in Toronto, ON. The AASB’s current 2016-2021 Strategic Plan is an ambitious one, with Darrell’s leadership fundamental to its success to date. Darrell is committed to helping his successor lead the work that has already begun.

The Chair is appointed by the Auditing and Assurance Standards Oversight Council (AASOC) which was established to serve the public interest by overseeing and providing input to the activities of the AASB.

Applications are due July 31, 2017. Get more information on this role via the AASB Chair Role and Responsibilities outline.

For additional details and/or to submit your application in confidence, contact:

Stephenie Fox CPA, CA
Vice-President
Financial Reporting and Assurance Standards Canada
Email: sfox@cpacanada.ca
Fax: +1 416 204-3214
Mail: 277 Wellington Street West, Toronto, Ontario M5V 3H2

***