News Listings

The Reporting and Assurance Standards Oversight Council and the Standard-setting Boards have released their 2024-2025 Annual Reports, highlighting oversight efforts, standards activity, and engagement that demonstrate transparency and accountability. Read the reports to learn more about their respective years in review.

The revised CAS 570, Going Concern, issued on June 1, 2025, brings changes to the auditor's expectations for management’s going concern assessment timeline. Read our joint communication with PSAB and the AcSB for details. 

The AASB approved the revised Canadian Auditing Standard (CAS) 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements and discussed key issues identified from exposure of its Canadian FOFI standard. The Board also discussed a range of international topics, including the Audit Evidence and Risk Response project, and its response to the IAASB’s Use of Experts Exposure Draft. Read our decision summary for full details.

Share your views on our new Exposure Draft, “Proposed Narrow-scope Amendments Related to the IAASB’s Using the Work of an External Expert Project.” Read more about the proposals and respond by July 24, 2025.

The Re-exposure Draft proposes an amendment in CSSA 5000 to ensure practitioners in Canada will be better equipped to provide assurance on sustainability reporting in a manner that considers Indigenous rights. Learn more and respond by July 18, 2025.

The AASB’s 2026-2029 Strategic Plan is built on considering the changing environment and the diverse needs of our interested and affected parties. Our five strategic goals guide us in serving the public interest by setting high-quality standards and supporting their effective application to address the evolving needs of Canadian interested and affected parties. Read more.

RASOC is pleased to announce the appointments and reappointments for the AASB, the AcSB, PSAB, and the Oversight Council. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

The 2025-2026 Annual Plan marks the first year under the AASB’s 2026-2029 Strategic Plan. Read about our key activities for the year ahead and how the Board will advance its strategic goals.

The AASB approved several key projects: the  revised Canadian Auditing Standard 570, Going Concern; a re-exposure draft for Canadian amendments in CSSA 5000, General Requirements for Sustainability Assurance Engagements, on Indigenous matters; and its 2026-2029 Strategic Plan. The Board also discussed Audit Evidence & Risk Response and Fraud. Read the Decision Summary for full details. 

The Auditing and Assurance Standards Board (AASB) discussed the IAASB’s topic on Listed Entity/Public Interest Entity Track-2, the Compilations of Future-oriented Financial Information, the AASB’s Annual and Strategic Plans, and the Performance Assessment Report. Read the decision summary for more.