In November 2019, the IAASB issued Exposure Draft, Conforming Amendments to the IAASB International Standards as a Result of the Revised IESBA Code, proposing conforming amendments to IAASB standards as a result of revisions to the International Ethics Standards Board for Accountants (IESBA) International Code of Ethics for Professional Accountants (including Independence Standards) (the IESBA Code).
This project is to consider whether to make the equivalent changes to Canadian standards.
The AASB’s goal is to adopt International Standards without amendment. However, there may be circumstances where amendments are required and the AASB has established criteria for making those amendments where necessary. Amendments are clearly identified in the Canadian standard and explained in the Preface to the CPA Canada Handbook – Assurance.