Canadian Auditing Standards

Overview

Active Projects

Audit Evidence
Auditor Reporting	Final Handbook material issued in June 2017
Auditor Reporting – Key Audit Matter Reporting and Other Considerations	Final Handbook material approved in September 2019 Final Handbook material expected to be issued in December 2019
Audits of Less Complex Entities	IAASB is deliberating feedback received on the Discussion Paper.
Group Audits	The Exposure Draft is currently being developed The IAASB approved project proposal in December 2016
Identifying and Assessing the Risks of Material Misstatement	Feedback considered and an AASB response letter developed on the IAASB Exposure Draft

CPA Canada Handbook

The CPA Canada Handbook – Assurance contains all the Canadian Auditing Standards (CASs), adopted from International Standards on Auditing (ISAs) set by the International Auditing and Assurance Standards Board and endorsed by the AASB. Its available in print and online.

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News

November 21, 2019 News

IAASB Exposure Draft – Conforming Amendments to the IAASB International Standards as a Result of the Revised IESBA Code

The IAASB recently issued an Exposure Draft, Conforming Amendments to the IAASB International Standards as a Result of the Revised IESBA Code. The AASB is considering appropriate revisions to Canadian standards and will issue its own exposure draft in January 2020. Stakeholders are encouraged to respond to the IAASB by January 10, 2020.

November 13, 2019 News

Auditing and Assurance Standards Board Meeting – December 2-3, 2019 – Agenda now available!

Find out what’s on the agenda for the upcoming Board meeting. Topics include, Agreed-upon Procedures, Quality Management, Audits of Less Complex Entities, Public Sector Auditing Standards, Group Audits and more. Read the agenda for full details.

November 8, 2019 News

Update – AASB Expands Key Audit Matter Reporting

The AASB received valuable feedback on its Exposure Draft, Communication of Key Audit Matters in the Auditor’s Report. After reviewing the feedback received, the AASB agreed to require key audit matter reporting for other listed entities, excluding listed entities required to comply with National Instrument 81-106. Read the article for full details.