The AASB has approved a project proposal to revise the 7000 series of Sections in the Handbook (i.e., Sections dealing with securities regulations and other capital markets matters).
The following matters will be considered:
- positions previously taken by the AASB on matters that have a public interest impact;
- projects undertaken by the International Auditing and Assurance Standards Board (IAASB); and
- recent changes in Canadian securities regulations.
This project involves revising Section 7500, Auditor's Consent to the Use of the Auditor's Report in Connection with Designated Documents.
Key issues that this project proposes to address include the following:
- Is deeming the auditor to be associated with the Annual Information Form filed with securities regulators appropriate?
- What is the impact, if any, of the IAASB’s revision of International Standard on Auditing (ISA) 720, The Auditor's Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements, which the AASB has adopted in Canada as Canadian Auditing Standard (CAS) 720 with the same title, on Section 7500?