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AASB Decision Summary – August 30, 2023

This summary of decisions of the Auditing and Assurance Standards Board (AASB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects and other matters, which might change after further deliberations by the AASB. Decisions to publish exposure draft and Handbook material are final only after a formal voting process.

Other Canadian Standards

Sustainability Assurance

The AASB approved the Exposure Draft for a new Canadian Standard on Sustainability Assurance (CSSA) 5000, General Requirements for Sustainability Assurance Engagements. Key issues discussed included the following:

  • the significant changes to the proposed ISSA 5000 from the version last discussed by the Board at its June 2023 meeting;
  • the proposed Canadian amendments to ISSA 5000 and potential additional Canadian amendments; and
  • the questions to include in the Canadian Highlights Summary.

The Exposure Draft for CSSA 5000 was issued on September 21, 2023.

Comments to the AASB on its Exposure Draft are due as follows:

  • responses to general questions are due by November 6, 2023, to ensure the AASB receives timely feedback from Canadians on issues relevant to the AASB’s response to the IAASB; and
  • responses to all other questions are due by December 31, 2023.

Comments to the IAASB on its questions are due on December 1, 2023.