Overview

The Board approved CSRS 4250, Compilation Engagements on Future-oriented Financial Information and Pro Forma, at its March 9–10, 2026, meeting. The new standard replaces AuG-16, Compilation of a Financial Forecast or Projection, and is effective for compilation engagement reports dated on or after July 1, 2028. It was issued in the CPA Canada Handbook – Assurance on June 19, 2026. Read more about the project.

At its June 2026 meeting, the AASB discussed ongoing international and Canadian standard-setting projects, including Audit Evidence and Risk Response, Targeted Standards in the International Standard on Auditing 500 series, Technology Quality Management Workstream, and ongoing activities to support audits of less complex entities in Canada. Read the decision summary for full details.

At its March 9–10, 2026, Board meeting, the AASB approved CSSA 5000, General Requirements for Sustainability Assurance Engagements. CSSA 5000 is an overarching standard that sets out requirements and application material for the entire sustainability assurance engagement, for both reasonable and limited assurance, and applies to all types of sustainability information, regardless of how that information is presented. CSSA 5000 is effective for assurance engagements on sustainability information reported for periods beginning on or after December 15, 2027, or as at a specific date on or after December 15, 2027. The standard was issued in the CPA Canada Handbook – Assurance on May 1, 2026.