The AASB Standard-Setting Due Process Manual outlines our rigorous set of procedures to develop and adopt standards.
Our due process is based on the following principles:
- Transparency: conducting our standard-setting process in a transparent manner.
- Consultation: considering the perspectives of those affected by Canadian assurance standards.
- Accountability: ensuring that obligations to interested and affected parties are met.
- Objectivity: ensuring AASB members remain independent from special interest groups, political pressures and personal interests.
Different Approaches to Standards
The AASB follows different approaches depending on whether it is:
- adopting an international standard concurrently with the IAASB, such as an International Standard on Auditing or an International Standard on Quality Management; or
- developing a standard that is not adopted from an international standard, which means developing a Canadian standard.