March 12, 2019
This podcast script provides a plain and simple overview of the key highlights of the IAASB’s Exposure Draft on quality management at the firm and engagement level.
This podcast provides a plain and simple overview of the key highlights of the IAASB’s Exposure Draft on quality management at the firm and engagement level.
The IAASB issued an interim Consultation Paper, including the first part of draft guidance for practitioners applying ISAE 3000 (Revised), Assurance Engagements Other than Audits of Reviews of Historical Financial Information to EER assurance engagements. This interim paper will assist the IAASB to develop guidance that they are working to publish in the second phase of this project. Stakeholders are encouraged to respond to the IAASB by July 21, 2019.
The IAASB issued three Exposure Drafts addressing quality management at the firm and engagement level, including engagement quality reviews, as well as an overall explanatory memorandum, FAQs and draft examples for proposed ISQM 1. Stakeholders are invited to comment by July 1, 2019. Visit the news page for full details.
The IAASB released its Proposed Strategy for 2020-2023 and Work Plan for 2020-2021. The Work Plan highlights the IAASB’s commitment to completing significant projects currently underway, while balancing the needs of all stakeholders. Stakeholders are encouraged to respond to the IAASB by June 4, 2019.
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.
March 1, 2019
Basis for Conclusions
This document summarizes the process the AASB followed in making revisions to CAS 540, Auditing Accounting Estimates and Related Disclosures. Read the Basis for Conclusions for full details. CAS 540 contains no amendments to the ISA wording.
This At-a-Glance provides an overview of the changes the IAASB made to ISA 540, Auditing Accounting Estimates and Related Disclosures, and related conforming and consequential amendments.
This is a summary of the process followed in revising Section 7170 and the Board’s conclusions regarding significant comments received in response to its Exposure Draft.
February 15, 2019
Are you an MJDS filer who has audits that comply with both Canadian GAAS and PCAOB accounting standards, or Canadian GAAS only? Read this update on the issue of naming the engagement partner on the auditor’s report and why the AASB deferred its application for one year.