AASB
March 6, 2023
International Activity
The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of Proposed Part 10, Audits of Group Financial Statements, of the Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE). The Exposure Draft aims to include certain group audits within the scope of the proposed ISA for LCE. Submit your comments on the IAASB’s Exposure Draft by May 2, 2023, and provide a copy of your response to the AASB at [email protected]
March 1, 2023
News
The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.
February 14, 2023
Resource, International Activity
Interested in how ISA 220 (Revised) and ISA 600 will affect group audits and quality management? The International Auditing and Assurance Standards Board (IAASB) has issued a fact sheet on the interactions between ISA 220 (Revised) on quality management at the engagement level, and ISA 600 on group audits. Read this fact sheet for support while planning your audits of financial statements.
February 7, 2023
The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of Proposed Part 10, Audits of Group Financial Statements, of the Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE). The Exposure Draft aims to include certain group audits within the scope of the proposed ISA for LCE. Submit your comments on the IAASB’s Exposure Draft by May 2, 2023.
International Activity, Resource, Article
The AASB is seeking your input and help in responding to the IAASB’s Proposed Strategy and Work Plan for 2024-2027. The survey is designed to gather your input on which projects should be prioritized by the IAASB. Read the work plan and provide your input via our survey by March 31, 2023.
February 1, 2023
News, Resource
The AASB and the Canadian Actuarial Standards Board jointly issued a revised JPS to enhance communications between actuaries and auditors. The JPS will be appended to CAS 500, Audit Evidence.
January 24, 2023
Resource, Guidance
The AASB has developed guidance to address the impact on Canadian Auditing Standards and Canadian Standard on Review Engagements of certain narrow-scope amendments made to IAS 1, Presentation of Financial Statements.
January 23, 2023
Meeting Summary, Webpage
The Board discussed developing a new Canadian Standard on Related Services on compilations of future-oriented financial information and approved a Canadian Project Proposal for sustainability assurance. It also discussed annual planning, the Strategic Plan 2022-2025, and more. Read the Decision Summary for full details.
December 13, 2022
Webinar, Resource
Are you interested in hearing about the proposed changes to CAS 500, Audit Evidence? Watch the recorded webinar, hosted by CPA Canada, to learn about the subject from members of the AASB’s Audit Evidence Advisory Group.
The International Auditing and Assurance Standards Board published guidance to help users understand the impact of revisions to International Accounting Standard (IAS) 1, Presentation of Financial Statements on International Standards on Auditing (ISAs). The AASB also revised the Canadian Auditing Standards (CASs) and will issue guidance on those changes to the CASs in early 2023.