Canadian Auditing Standards (CASs)
Basis for Conclusions – New and Revised Auditor Reporting Standards
June 15 2017. This document summarizes the process followed in developing new and revised auditor reporting standards and the conclusions reached by the AASB.
Basis for Conclusions – CAS 720, The Auditor’s Responsibilities Relating to Other Information
June 14, 2017. This document summarizes the process followed in developing this standard and the conclusions reached by the AASB.
Basis for Conclusions – Addressing Disclosures in the Audit of Financial Statements
June 12, 2017. This document summarizes the process followed in developing revisions to the standards and the conclusions reached by the AASB.
Message from the Chair – New Auditor Reporting and Other Standards Issued
May 18, 2017. The new auditor’s report represents a step change. It better describes what an audit is and what an auditor does. Read this message from the AASB Chair, Darrell Jensen, to learn what factors the AASB considered when approving these new standards, as well as how we’re supporting effective implementation.
Video Conference Discussions – Stakeholders’ Views Sought on the Proposed Revisions to CAS 540
May 10, 2017. Participate in a video conference session to provide your views on the proposals to update Canadian Auditing Standard (CAS) 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures. The Exposure Draft, “Auditing Accounting Estimates and Related Disclosures”, needs your feedback!
AASB Exposure Draft – Auditing Accounting Estimates and Related Disclosures
May 9, 2017. The AASB has issued an Exposure Draft that proposes to adopt, with appropriate Canadian amendments if any, proposed amendments to ISA 540, and other conforming amendments. Stakeholders are encouraged to submit their comments by July 7, 2017.
IAASB Exposure Draft – Auditing Accounting Estimates and Related Disclosures (Proposed amendments to ISA 540)
May 1, 2017. The International Auditing and Assurance Standards Board (IAASB) has issued an Exposure Draft on ISA 540 (Revised). Significant changes in how auditors evaluate accounting estimates and related disclosures have been proposed. Stakeholders are invited to provide comments by August 1, 2017.
Basis for Conclusions – CAS 250, Consideration of Laws and Regulations in an Audit of Financial Statements
March 1, 2017. This document summarizes the process followed in developing revisions to this standard and the conclusions reached by the AASB.
Alert – International Standards on Auditing Not Adopted as Canadian Auditing Standards as at December 15, 2016
December 5, 2016. Auditors performing audits of financial statements in accordance with CASs for periods ending on or after December 15, 2016 should not represent compliance with ISAs unless they have also complied with these ISAs issued by the IAASB.
Message from the Chair – Moving Forward on New Auditor Reporting and Other Standards
November 14, 2016. Our Chair, Darrell Jensen, provides an update on the progress towards adopting new international standards.
IAASB Request for Input – Exploring the Growing Use of Technology in the Audit
October 28, 2016. The IAASB is seeking input on the growing use of technology in the audit, with a focus on data analytics. Canadian stakeholders are encouraged to provide their comments to the IAASB by February 15, 2017.
Final Standard – Consideration of Laws and Regulations in an Audit of Financial Statements
October 25, 2016. The IAASB has issued ISA 250 (Revised), which responds to the new requirements addressing non-compliance with laws and regulations in the IESBA Code of Ethics. The revised ISA is effective for audits of financial statements for periods beginning on or after December 15, 2017.