AASB

Auditing Accounting Estimates Advisory Group

About the Advisory Group

The Auditing and Assurance Standards Board (AASB) established the Auditing Accounting Estimates Advisory Group in 2016 to provide the AASB advice on its project to consider revisions to CAS 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures.

Staff Contact(s)

Johanna Field, CPA, CA

Principal, Auditing and Assurance Standards Board

Role & Responsibilities

The role and responsibilities of the Advisory Group includes the following:

  • Identifying key issues in the Canadian auditing environment.
  • Reviewing International Auditing and Assurance Standards Board agenda materials, determining impacts and issues relevant to Canada, and providing these views to the AASB for its consideration.
  • Assisting the AASB with stakeholder consultations.
  • Providing input on the Highlights Summary that accompanies an exposure draft.
  • Analyzing stakeholder responses to the exposure draft and providing recommendations to the AASB to address feedback on the proposed new standard. 
  • Providing input on the proposed final standard.
  • Identifying possible Canadian amendments to the equivalent International Standard on Auditing.
  • Assisting the AASB in identifying implementation risks and possible responses to those risks.
  • Providing input on implementation guidance.

Meetings

The Advisory Group meets privately approximately five times a year.

The results of Advisory Group meetings serve as the basis for agenda papers presented to the AASB when the Auditing Accounting Estimates project is on its meeting agenda.

Keep up to date on this project via the Auditing Accounting Estimates project page.

Membership

The Advisory Group consists of:

  • a former AASB member;
  • a member with significant experience working in public sector;
  • 4 members with significant experience working in the financial institution, real estate, insurance, oil and gas, or mining sectors; and
  • a member from a small to medium-sized practice.

Fred Fuchs

CPA auditor, CA
Richter S.E.N.C.R.L.
Montréal, QC
Member(s)

Gordon D. Cummings

D&H Group LLP
Vancouver, BC
Member(s)

Jeff Westreich

CPA, CA
Kraft, Berger, LLP
Markham, ON
Member(s)

Marian McMahon

CPA, CA
Office of the Auditor General of Canada
Member(s)

Pat Cavanagh

CPA, CA
Ernst & Young LLP
Calgary, AB
Member(s)

Ron Salole

IAASB Representative
Member(s)

Scott Shannon

CPA, CA, CMA
Grant Thornton LLP
Mississauga, ON
Member(s)