AASB

Auditing and Assurance Standards Board

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.

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Survey: AASB Exposure Draft – Proposed Amendments to Canadian Auditing Standard (CAS) 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements

The AASB wants your input on our proposed changes to the fraud audit standard, CAS 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements. Your comments will help ensure this global standard works for the Canadian marketplace. Take our short survey by May 6, 2024!

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Sustainability Assurance

Sustainability/ESG reporting has quickly become a matter of global importance. Globally, organizations are shifting from voluntary reporting to reporting in accordance with requirements mandated by jurisdictions. As organizations expand their reporting on sustainability matters, interested and affected parties are increasingly demanding assurance on this information. Learn about the AASB’s activities to support assurance in this area.

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Meeting & event summaries

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April 8, 2024 AASB Decision Summary – March 11-12, 2024

The AASB discussed Going Concern, Listed Entity/Public Interest Entity Track-2, Integrated Project, Technology Position, Audits of Less Complex Entities, Compilations of Future-oriented Financial Information, Sustainability Assurance, and more. Read the decision summary for full details.

January 24, 2024 AASB Decision Summary – January 24, 2024

The AASB approved two exposure drafts: Fraud and Listed Entity/Public Interest Entity Track-2. It discussed the draft 2024-2025 Annual Plan and the Compilations of Future-oriented Financial Information project. The Board received a presentation from the Practice Inspection Programs Standing Committee. Read the decision summary for full details.

December 4-5, 2023 AASB Decision Summary – December 4-5, 2023

The Board discussed IAASB’s issues on Audit Evidence, Fraud, Listed Entity/Public Interest Entity – Track 2, and IAASB’s Strategy and Work Plan. The Board also discussed its Annual and Strategic Plan, Terms of Reference, Statement of Operating Procedures, and Due Process Manual. Read the Decision Summary for full details.

News

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April 17, 2024 Document for Comment

AASB Consultation Paper – 2026-2029 Strategic Plan

The AASB wants your input on its 2026-2029 Strategic Plan! Complete our survey by June 28, 2024, to provide your views on whether our goals are responsive to the changing environment. Weigh in on what areas will significantly influence the audit and assurance landscape over the next five years and help us set the direction of our work.

April 1, 2024 News

Canada’s Reporting and Assurance Oversight Councils Announce Transition to Single Oversight Council for Streamlined Standard Setting

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.

March 31, 2024 News

Appointments, Reappointments, and Retirements – AASOC

AASOC is pleased to announce new members and reappointed members. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.