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Other Canadian Standards

Public Sector Auditing Standards

Summary

The objective of this project is to update the Sections in the Handbook dealing with the special circumstances that may apply to the audits of public sector entities.

Staff Contact(s)

Birender Gill, CPA, CA Principal, Auditing and Assurance Standards Board

Phone number  +1 416 204 3298
Email address  [email protected]

Project Status

  • Information gathering

    Completed in 2015

  • Approving project

    Project proposal approved in September 2015

  • Consulting stakeholders

    The Exposure Draft of Assurance and Related Services Guideline AuG-50, Conducting a Performance Audit in the Public Sector in Accordance with CSAE 3001 currently open for comment.

  • Deliberating feedback

    The AASB is deliberating feedback received on the Exposure Draft

  • Final pronouncement

    AuG-49 issued in September 2018

    AuG-50 approved in March 2020

    AuG-50 Final Handbook material expected to be issued in July 2020

Meeting & event summaries

March 9, 2020 AASB Decision Summary — March 9-10, 2020

The AASB approved AuG-50, Conducting a Performance Audit in the Public Sector in Accordance with Canadian Standard on Assurance Engagements (CSAE) 3001, Direct Engagements.

The AASB unanimously agreed that re-exposing AuG-50 is not necessary because all changes were made in response to comments raised on exposure and there was extensive outreach with key stakeholders on the changes proposed in the Exposure Draft.

Once AASOC confirms that the AASB followed due process with proper regard for the public interest, it is expected AuG-50 will be issued and effective in the CPA Canada Handbook – Assurance in July 2020.

December 23, 2019 AASB Decision Summary — December 2-3, 2019

The AASB discussed key issues stakeholders raised on the Exposure Draft, “Assurance and Related Services Guideline (AuG) 50, Conducting a Performance Audit in the Public Sector in Accordance with CSAE 3001,” including:

  • incorporating materials from extant standards into the proposed Guideline;
  • clarifying the concept of an engagement partner in the public sector context;
  • the definition of legislative auditor;
  • presenting the assurance conclusions; and
  • making recommendations in a performance audit report.

The Board will continue to discuss these and other issues at future meetings.

October 7, 2019 AASB Decision Summary — October 7-8, 2019

The AASB discussed the key issues raised by stakeholders on the Exposure Draft, “Assurance and Related Services Guideline (AuG) 50, Conducting a Performance Audit in the Public Sector in Accordance with CSAE 3001.” Key issues discussed included:

  • the definition of legislative auditor;
  • addressing concerns related to internal control; and
  • how to present an assurance conclusion in a performance audit.

The AASB will continue to discuss these issues at a future meeting.

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 ballot process.