Canadian Auditing Standards

Overview

Active Projects

Audit Evidence

The AASB submitted a response to the IAASB’s Exposure Draft – “ISA 500, Audit Evidence”

The IAASB is deliberating feedback on its Exposure Draft – “ISA 500, Audit Evidence” and the AASB is forming Canadian views on key issues identified

AASB Response

Fraud

The AASB submitted a response to the IAASB’s Exposure Draft – “ISA 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements”

The IAASB is deliberating feedback on its Exposure Draft – “ISA 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements” and the AASB is forming Canadian views on key issues identified

AASB Response

Going Concern

The AASB submitted a response to the IAASB’s Exposure Draft – “ISA 570, Going concern”

The IAASB is deliberating feedback on its Exposure Draft – “ISA 570, Going Concern” and the AASB is forming Canadian views on key issues identified

AASB Response

Listed Entity and Public Interest Entity

The AASB submitted a response to the IAASB’s Track 2 Exposure Draft – “Proposed Narrow Scope Amendments to ISQMs, ISAs, and International Standard on Review Engagements 2400 (Revised), Engagements to Review Historical Financial Statements”

The AASB is deliberating feedback on its Track 2 Exposure Draft

The IAASB is deliberating feedback on its Track 2 Exposure Draft

AASB Response

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. It's available in print and online.

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News

June 26, 2024 Document for Comment

ISC Exposure Draft – Proposed Revisions Relating to Definitions of Public Interest Entity and Listed Entity in Canadian Independence Standards

The Independence Standing Committee’s (ISC) Exposure Draft outlines its proposals to revise the definition of “public interest entity” (PIE) in the Canadian Independence Standards (CIS), to align more closely with the IESBA Code. Final changes to the CIS may impact our Listed Entity and PIE project. Respond directly to the ISC by September 30, 2024, and have your say.

June 10-11, 2024 Meeting Summary, Webpage

AASB Decision Summary – June 10-11, 2024

The AASB discussed the IAASB’s topics: Going Concern, Listed Entity/Public Interest Entity Track 2, Sustainability Assurance, and Technology Position. It discussed Canadian topics: Audits of Less Complex Entities and Compilations of Future-oriented Financial Information. Read the decision summary for full details.

May 14, 2024 Meeting Summary, Webpage

AASB Decision Summary – May 14, 2024

The AASB reviewed feedback on the Exposure Draft of CAS 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, and its response to the IAASB’s proposed ISA 240. The AASB also discussed the Compilations of Future-oriented Financial Information and Pro Forma project. Read the decision summary for more.