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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Upcoming meetings & events

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May 14-23, 2019 Virtual Roundtable Discussions – Quality Management May 14 and 22, 2019 – 1:00-4:00 pm EST                               May 16 and 23, 2019 – 9:00 am-12:00 pm EST

You are invited to attend a virtual roundtable discussion of the new Exposure Draft, Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews. Virtual roundtable discussions are taking place May 14, 16, 22, and 23. Register today and to have your say!

Meeting & event summaries

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May 6, 2019 AASB Decision Summary — May 6, 2019 Conference Call

The Board approved an exposure draft of a guideline for Public Sector Auditing Standards and a revised standard for Reporting on Controls at a Service Organization. It also discussed Audits of Less Complex Entities and the IAASB Strategy and Work Program. Read the full Decision Summary for details.

April 8, 2019 AASB Decision Summary – April 8, 2019 Conference Call

The Board discussed Compilation Engagements and Reporting on Controls at a Service Organization. Additionally, the Board assessed its performance against targets in its Operating Plan.

March 4-5, 2019 AASB Decision Summary — March 4-5, 2019

The Board discussed several topics during this two-day meeting, including Identifying and Assessing the Risk of Material Misstatement, Public Sector Auditing Standards, Compilation Engagements, and the AASB’s 2019-2020 Annual Plan. Read the Decision Summary for full details.

News

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April 26, 2019 News
In-Brief – Feedback from outreach session: barriers to effective and efficient audits of less complex entities

In November 2018, the AASB and CPA Canada hosted an outreach session with practitioners to discuss the barriers to effective and efficient audits of less complex entities. Read more for what we heard.

April 12, 2019 News
IAASB Webcasts for Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews– Register Now

The IAASB is hosting a series of webcasts to take participants through key aspects of the revised standards on quality management at the firm and engagement level. The webcasts will provide an opportunity for participants to ask questions. Register now to secure your spot.

April 12, 2019 Resource
In-Brief Podcast Script – The New Approach to Quality Management and How it Can Benefit You

This podcast script provides a plain and simple overview of the components of the system of quality management, and how the new risked-based approach in ISQM 1 can benefit you. Download the script to read the full details.