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Canadian Auditing Standards



June 9, 2023

Resource, Webinar, News

On-demand Webinar - CAS 570, Going Concern

Interested in learning more about the proposed changes to CAS 570 and ISA 570? Watch the recorded AASB and CPAB webinar, hosted by CPA Canada, to learn about going concern considerations in the current macroeconomic and geopolitical environments, and the recent Exposure Draft on CAS 570, Going Concern.

February 7, 2023

International Activity, Resource, Article

Survey: Prioritizing Projects in the IAASB’s Work Plan for 2024-2027

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.

January 24, 2023

Resource, Guidance

Amendments to IAS 1 and the Impact on the CASs: Disclosure of Material Accounting Policy Information

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.

October 20, 2022

Resource, Other

Lessons Learned from KAM Reporting on Audits of TSX-Listed Entities: Observations from the 2020 Canadian Experience

In 2022, an independent research study on KAM reporting was undertaken to gain further insights on the Canadian experience. Lessons learned from the research study can be found here.

June 30, 2022

Resource, In Brief

In Brief – Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors

Read our In Brief for an overview of the Exposure Draft, Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors. You can share your feedback on this joint Exposure Draft by the AASB and the Canadian Actuarial Standards Board by September 19, 2022. 

April 26, 2022

Resource, Webinar

On-Demand Webinar – Fraud in an Audit of Financial Statements

The AASB joined CPAB in a webinar discussion on the auditor’s responsibilities related to fraud in an audit and considerations for the Canadian environment, and the IAASB’s proposed changes to ISA 240. Watch in English or French to hear about our views on this important topic! 

October 19, 2021

News, Resource, Article

Joint report on Fraud, Going Concern and the Expectation Gap in Audit

In collaboration with the ACCA, CPA Canada, and CA ANZ, the AASB issued a joint report – Closing the expectation gap in audit – The way forward on fraud and going concern: A multi-stakeholder approach. The report provides recommendations on how to narrow the expectation gap in the areas of fraud and going concern, based on feedback from virtual roundtables held across the globe. Read the report for full details.

July 21, 2021

Resource, Other

AASB Strategic Plan 2022-2025 Feedback Statement

Learn how the AASB developed and approved its Strategic Plan 2022-2025 – including conclusions reached on the significant comments received. 

June 3, 2021

Resource, Article

Fraud, Going Concern, and the Expectation Gap

Although the external audit is only one element within the broader financial reporting ecosystem, the auditor’s role in audits of financial statements continues to receive heightened public attention. We’re working to better understand the expectation gap between the perception of the auditor’s role and their responsibilities in a financial statement audit. Read this article to learn more about our outreach initiatives, and watch a video excerpt from our recent presentation on this topic!

April 28, 2021

Resource, Guidance

Communicating Key Audit Matters in the Auditor’s Report

Canada is now in the last phase of its enhanced auditor reporting project. The AASB is here to support the communication of Key Audit Matters (KAM) in the auditor’s report and help auditors work with their clients. Read the AASB’s three new pieces of non-authoritative guidance: Lessons Learned, Roadmap, and FAQ.