Role & Responsibilities
The role and responsibilities of the Advisory Group include the following:
- Identifying key issues in the Canadian environment related to fraud.
- 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 expected 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 via conference call approximately five times a year.
The results of Advisory Group meetings serve as the basis for agenda papers presented to the AASB when the fraud project is on its meeting agenda.
Keep up to date on this project via the Fraud project page.
Membership
The Advisory Group consists of:
- 1 current AASB member;
- an academic;
- 1 practitioner; and
- 1 auditor from the public sector.