News Listings

The IAASB is holding a series of webinars on June 24, July 29, August 5, and August 18. The webinars will take a deep dive into aspects of the IAASB’s new standard on quality management. We encourage stakeholders to register for a webinar or watch the webinars on the IAASB’s YouTube channel following the session.

The AASB discussed issues related to the IAASB’s project on Group Audits and the anticipated exposure draft of a separate standard for audits of less complex entities. The Board approved its 2021-2022 Annual Plan and 2022-2025 Strategic Plan. 

The Council met on October 29-30, 2020 to receive an update on the Boards’ activities. Read the full report for more information.

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!

The IAASB issued a survey on its Work Plan for 2022-2023. Help shape the IAASB’s future work by replying via the Board’s online tool. We encourage Canadian stakeholders to respond to the IAASB by August 5, 2021.

The IAASB released a new video for firms preparing to implement its new quality management standards. Watch this video for information on what may be retained from current quality control systems, the time and resources needed, and various ways to approach implementation.

How do new or amended IFRS® Standards make their way into the CPA Canada Handbook – Accounting? Find out via this overview of the due process activities we carried out in support of changes made to Part I of the Handbook in 2020.

The Board discussed Rate Regulated Activities, COVID-19 Disclosures, COVID-19-Related Rent Concessions, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

This past year presented several major global challenges with impacts on standard-setting in Canada. Both AASOC and the AASB needed to be sensitive to many different risks in our new environment.  Read our 2020-2021 Annual Report to learn more about the work we did, including our oversight of the AASB. 

The AcSB’s Draft Strategic Plan focuses on enhancing the relevance of financial and non-financial information reported. Help guide the AcSB in determining its objectives for the next five years! Submit a comment letter or take part in our online activities via Connect.FRASCanada.ca by October 15, 2021. Stay tuned to our project page for news on our upcoming events and take advantage of further opportunities to discuss our proposals.