News Listings

The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of Proposed Part 10, Audits of Group Financial Statements, of the Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE). The Exposure Draft aims to include certain group audits within the scope of the proposed ISA for LCE. Submit your comments on the IAASB’s Exposure Draft by May 2, 2023, and provide a copy of your response to the AASB at [email protected].

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The Council met on February 23, 2023, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

The Board discussed the creation of the Indigenous Advisory Group (IAG), the Technical Advisory Group (TAG), and the Financial Statement Presentation Standard (“Reporting Model”). Read the Decision Summary for full details.

The Accounting Standards Board (AcSB) welcomed International Accounting Standards Board (IASB) Chair, Andreas Barckow, and Vice-Chair, Linda Mezon-Hutter, to its February 15, 2023 board meeting in Toronto.

The Council met on September 26, 2022, to discuss the activities of the AASB and related matters. Read the full report for more information.

The AcSB discussed Contributions, Scaling the Standards, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Interested in how ISA 220 (Revised) and ISA 600 will affect group audits and quality management? The International Auditing and Assurance Standards Board (IAASB) has issued a fact sheet on the interactions between ISA 220 (Revised) on quality management at the engagement level, and ISA 600 on group audits. Read this fact sheet for support while planning your audits of financial statements.

The Council met on February 17-18, 2022, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

The Council met on June 27-28, 2022, to discuss the activities of the AASB and related matters. Read the full report for more information.