Canadian Auditing Standards
February 7, 2023
International Activity, Resource, Article
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
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
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
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
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
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
Learn how the AASB developed and approved its Strategic Plan 2022-2025 – including conclusions reached on the significant comments received.
June 3, 2021
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
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.
January 25, 2021
Did you conclude that your company did not have material uncertainties associated with its ability to continue as a going concern? Would small changes to the assumptions you used change that assessment? Read this joint resource issued by the AcSB and AASB on accounting and auditing considerations relating to close call going concern assessments.