Auditing and Assurance Standards Board

WHAT'S NEW

Webinar – Toward a New Standard on Compilation Engagements
August 14, 2018. Tune in to this webinar on September 26 (English) and September 28 (French) to learn about the AASB Exposure Draft for CSRS 4200, Compilation Engagements, and how you can provide input to our proposals.

Video Conference Discussions – Stakeholders’ Views Sought on the Proposed Revisions to CAS 315
August 3, 2018. Participate in a video conference taking place this September to provide your views on the soon-to-be-released Exposure Draft, “Identifying and Assessing the Risks of Material Misstatement”. The AASB wants your feedback!

Webinar – AASB Exposure Draft: Risks of Material Misstatement
July 26, 2018. Tune into this webinar on September 11, 2018 (English) and September 19, 2018 (French) to learn about the AASB’s planned exposure draft of revisions to CAS 315 and how you can provide input to the AASB.

In Brief – A plain and simple overview of auditing considerations related to cryptocurrencies
July 26, 2018. The rise of cryptocurrencies is increasing global interest and scrutiny by organizations, investors, regulators, governments, and others. Do you understand the implications? Read our In Brief for the AASB’s thoughts on a recently issued CPA Canada guidance paper on this topic

AASB Decision Summary – July 10, 2018
July 23, 2018.The Board discussed Auditor Reporting and Identifying and Assessing the Risks of Material Misstatement. Also discussed was the approach to input on the AcSB’s Draft Framework for Performance Measures and survey on the IAASB’s future strategy.

Approved! Exposure Draft of a Proposed New Standard on Compilation Engagements
July 23, 2018. The AASB unanimously approved an exposure draft of a proposed new standard on compilation engagements to replace Section 9200, Compilation Engagements. Set to be issued September 4, 2018, comments will be due November 30, 2018. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay tuned for more!

Approved! Exposure Draft of a Proposed Revised Standard on Identifying and Assessing the Risks of Material Misstatement
July 23, 2018. The AASB unanimously approved a Canadian exposure draft of revised CAS 315. The exposure draft is based on the IAASB’s exposure draft of proposed changes to ISA 315, with no proposed Canadian amendments. Set to be issued September 7, 2018, comments will be due November 2, 2018. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay tuned for more!

Call for New Chair – Auditing and Assurance Standards Oversight Council seeks a dynamic leader
July 19, 2018. AASOC is looking for an exceptional individual to serve as its next Chair, for an initial term of three years. This is a volunteer position requiring approximately 150 hours annually. Apply by September 10, 2018!

IAASB Exposure Draft – Identifying and Assessing the Risks of Material Misstatement (Proposed amendments to ISA 315)
July 17, 2018. The International Auditing and Assurance Standards Board (IAASB) issued an Exposure Draft proposing changes to ISA 315 that could drive more consistent and effective identification and assessment of the risks of material misstatement. Stakeholders are invited to comment by November 2, 2018.

AASB Meeting Agenda – July 10, 2018
July 4, 2018.The Board is having a conference call to discuss Auditor Reporting and Identifying Risks of Material Misstatement. Also, to be discussed is a draft response to the survey on the IAASB's Future Strategy and its approach to input on the Draft Framework for Reporting on Performance Measures issued by the Accounting Standards Board.

Basis for Conclusions – Preface to the CPA Canada Handbook - Assurance
July 3, 2018. This is a summary of the process followed in reviewing the amendment criteria used by the Board when adopting ISQCs as CSQCs, ISAs as CASs, and ISAEs as CSAEs.

AASB approves Assurance and Related Services Guideline (AuG) 49
June 29, 2018. The Board unanimously approved new AuG-49 and the related consequential amendments to CSRS 4460. The new guideline will be effective for reports dated on or after April 1, 2019, with early application permitted. The guideline is expected to be in September 2018 Handbook update.

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