The AASB approved a new standard on compilation engagements in October 2019, to be issued in February 2020. The new standard takes effect for compiled financial information for periods ending on or after December 14, 2021, with early application permitted. The impact of the new standard will be felt by practitioners, entities of compiled financial information, and users.
Learn more about the key features of the new standard on compilation engagements and the resources available to effectively implement this standard and understand the impact of the changes.
News Article – New Standard on Compilation Engagements: Coming February 2020
The AASB approved a new standard on compilation engagements for release in February 2020. The impact could be significant to practitioners and users. Read about some of its key features.
Compilation Engagements – A new standard (video)
The AASB is issuing a new standard on compilation engagements and its impact will be felt by practitioners, entities of compiled financial information and users. Watch this brief video, featuring the Chair of the AASB, to learn all about it.
Basis for Conclusions
This document summarizes the process the AASB followed in issuing CSRS 4200, Compilation Engagements, and the Board’s conclusions regarding significant comments received in response to its Exposure Draft. Read the Basis for Conclusions for full detail.
CPA Canada – New compilation standard: Guidance resources
CPA Canada has released practical non-authoritative guidance material to help you understand why the changes are important and to learn how to communicate and implement them effectively.
Visit the Compilation Engagements project page for more information on the project and its background.
Svetlana Berger, CPA, CA, MAcc
Auditing and Assurance Standards Board
Tel.: 416 204.3231