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Other Canadian Standards

Extended External Reporting Assurance

Summary

Extended External Reporting (EER) encompasses various forms of reporting, including, but not limited to, sustainability reporting and other reporting by entities about environmental, social, and governance matters. EER is increasingly being emphasized as multi-faceted information about organizations informs and drives economic and strategic decisions. This expanding need for reliable, high-quality information – beyond historical financial information – is growing the demand for assurance engagements related to these reports.

Staff Contact(s)

Johanna Field, CPA, CA Associate Director, Auditing and Assurance Standards Board

Karen DeGiobbi, CPA, CA Director, Auditing and Assurance Standards Board

Project Status

  • Information gathering

    The AASB responded to the IAASB’s Consultation Paper, Extended External Reporting (EER) Assurance on July 13, 2020.

  • Non-authoritative guidance issued

    The AASB issued non-authoritative guidance to support Canadian practitioners’ use of the IAASB’s Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Sustainability and Other Extended External Reporting Assurance Engagements in Canada, applying Canadian Standard on Assurance Engagements (CSAE) 3000.

News


January 7, 2022

Resource, Guidance

Frequently Asked Questions – Extended External Reporting (EER)

Looking for answers to common questions about sustainability or environmental, social and governance assurance? Check out these Frequently Asked Questions for all the information you need! We start with basic information, then provide details on performing an assurance engagement on EER.

August 3, 2021

Resource, Guidance

Guidance on sustainability and other extended external reporting assurance engagements in Canada

The AASB has issued non-authoritative guidance to support Canadian practitioners’ use of the IAASB’s Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Sustainability and Other Extended External Reporting Assurance Engagements in Canada, applying Canadian Standard on Assurance Engagements (CSAE) 3000.

May 6, 2021

International Activity

New IAASB guidance to support extended external reporting assurance engagements

The IAASB published its Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting (EER) Assurance Engagements. The guidance responds to ten key stakeholder-identified challenges commonly encountered in applying International Standard on Assurance Engagements 3000 (Revised).

April 2, 2020

International Activity

IAASB Consultation Paper – Extended External Reporting (EER) Assurance

The International Auditing and Assurance Standards Board (IAASB) issued its Consultation Paper, Extended External Reporting (EER) Assurance, which proposes non-authoritative guidance to support this evolving area of reporting. Comments are due to the IAASB on July 13, 2020.

March 12, 2019

International Activity

IAASB Consultation Paper – Extended External Reporting Assurance

The IAASB issued an interim Consultation Paper, including the first part of draft guidance for practitioners applying ISAE 3000 (Revised), Assurance Engagements Other than Audits of Reviews of Historical Financial Information to EER assurance engagements. This interim paper will assist the IAASB to develop guidance that they are working to publish in the second phase of this project. Stakeholders are encouraged to respond to the IAASB by June 21, 2019.

Meeting & event summaries


October 29, 2021

AASB Decision Summary – October 15 and 18, 2021

The AASB received an update on the development of extended external reporting (EER) reference materials to support the Board’s EER guidance issued in August 2021. The update discussed the nature of the content and where it would be best located for practitioners.

July 15, 2021

AASB Decision Summary – July 15, 2021

The AASB provided input on a draft supporting document that will be issued to assist Canadian practitioners in using the IAASB’s “Non-Authoritative Guidance on Applying ISAE 3000 to Extended External Reporting (EER) Assurance Engagements.” This is for engagements performed under Canadian Standard on Assurance Engagements (CSAE) 3000, Attestation Engagements Other than Audits or Reviews of Historical Financial Information.

The AASB expects to issue the supporting document in the fall of 2021.

June 29, 2021

AASB Decision Summary – June 7-8, 2021

The AASB discussed the way forward in Canada for applying the IAASB’s “Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting (EER) Assurance Engagements.”

The AASB decided to issue the IAASB non-authoritative guidance as AASB guidance. The non-authoritative guidance will be accompanied by a supporting document outlining the limited differences in applying Canadian Standard on Assurance Engagements 3000, Attestation Engagements Other than Audits or Reviews of Historical Financial Information, compared to International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

The supporting document, linking to the non-authoritative guidance, is expected to be issued in August 2021.

December 15, 2020

AASB Decision Summary – November 30 – December 1, 2020

The AASB provided input to the IAASB members from Canada on issues relating to the IAASB’s revised Non-Authoritative Guidance on Applying ISAE 3000 to Extended External Reporting Assurance Engagements.

Key issues discussed included:

  • clarifying in the guidance what audit or assurance standards apply when an audit or review of historical financial information is necessary due to an Extended External Reporting (EER) framework, standard or regulation; and
  • whether the term “criteria” should be used in the context of identifying reporting topics.

September 23, 2020

AASB Decision Summary – September 9-10 and 23, 2020 Meetings

The AASB discussed and provided input to the IAASB members from Canada on issues related to the IAASB proposals that address the comments from respondents on the Public Consultation Paper, “Proposed Non-Authoritative Guidance Extended External Reporting (EER) Assurance.”

July 21, 2020

AASB Decision Summary – July 7 and July 21, 2020 Conference Calls

The AASB reviewed and provided input on the latest draft response letter to the International Auditing and Assurance Standards Board’s (IAASB) Public Consultation, “Proposed Non-Authoritative Guidance Extended External Reporting (EER) Assurance.” The final response letter, reflecting the Board’s input, will be submitted to the IAASB by the comment deadline of July 13, 2020.

June 8, 2020

AASB Decision Summary – June 8-9, 2020

The AASB continued discussing its draft response letter to the IAASB Public Consultation Paper, “Proposed Non-Authoritative Guidance Extended External Reporting (EER) Assurance.” The Board will review other sections of the draft response in July 2020 before submitting a final letter to the IAASB in mid-July 2020.

May 12, 2020

AASB Decision Summary – May 12, 2020

The AASB discussed a portion of its draft response letter to the International Auditing and Assurance Standards Board’s (IAASB) Public Consultation Paper, “Proposed Non-Authoritative Guidance Extended External Reporting (EER) Assurance.” The Board will review other sections of the draft response in June and July 2020 before submitting a final letter to the IAASB in mid-July 2020.

December 23, 2019

AASB Decision Summary — December 2-3, 2019

The AASB discussed its approach for responding to the IAASB’s document for comment, “Special Considerations in Performing Assurance Engagements on Extended External Reporting.” The IAASB expects to approve this document at its December 2019 meeting.

September 10, 2019

AASB Decision Summary – September 9-10, 2019 Meeting

The AASB discussed its approach to responding to the IAASB’s Exposure Draft on non-authoritative guidance related to Emerging External Reporting, expected to be issued in January 2020.

The AASB decided to form an Advisory Group to support staff and the Board in reviewing and responding to materials issued by the IAASB. The Advisory Group will help identify key issues related to the evolution of audit in response to environmental changes in Canada.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.