Auditing and Assurance Standards Board

The AASB discussed IAASB’s topics on Fraud, Going Concern, Integrated Project, Listed Entity/Public Interest Entity Track-2, Technology Position, Canadian projects on Audits of Less Complex Entities, and Sustainability Assurance, as well as the AASB’s Engagement Process and Strategic Plan.

The AASB reviewed feedback on the Exposure Draft of CAS 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements, and its response to the IAASB’s proposed ISA 240. The AASB also discussed the Compilations of Future-oriented Financial Information and Pro Forma project. Read the decision summary for more.

The AASB discussed Going Concern, Listed Entity/Public Interest Entity Track-2, Integrated Project, Technology Position, Audits of Less Complex Entities, Compilations of Future-oriented Financial Information, Sustainability Assurance, and more. Read the decision summary for full details.

Short on time but want to know how this change impacts you as a practitioner, a user of FOFI or pro forma, management, or a staff member charged with governance? Read our educational guide for more details! 

The AASB has provided information on its decision to not adopt the International Standard for Audits of Less Complex Entities. Read further to learn the reasons behind this decision and what the AASB is doing now.

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.