Meetings and Events

The Board discussed issues related to the IAASB’s proposed International Standard on Auditing (ISA) 500, Audit Evidence. It also reviewed the first draft of the Exposure Draft on Joint Policy Statement with Auditors and Actuaries and discussed other issues.

The AASB approved Quality Management – Conforming Amendments and CAS 600, Special Considerations – Audits of Group Financial Statements (including the work of Component Auditors) and the related conforming amendments. The Board also provided IAASB members with input from Canada on issues related to Audit Evidence, Fraud, Going Concern, and Listed Entity and Public Interest Entity. The Board approved its 2022-2023 Annual Plan and its 2021-2022 Performance Assessment. Read the summary for more details!

The AASB discussed stakeholder feedback on Quality Management – Conforming Amendments and received a presentation of feedback from stakeholders related to AASB’s Discussion Paper on Audits of Less Complex Entities. The Board also discussed the IAASB Work Plan for 2022-2023 and provided input to the IAASB’s Working Group project proposal to revise ISA 240 on Fraud as well as issues related to ISA 600 on Group Audits. Read the summary for more details!

The Board discussed issues related to the proposed conforming amendments to Other Canadian Standards (OCSs) set out in its Exposure Draft, “Quality Management – Conforming Amendments to Other Canadian Standards”. The AASB reviewed a draft response letter to the International Auditing and Assurance Standards Board’s Exposure Draft on Audits of Less Complex Entities. Read the Decision Summary for full details. 

The AASB discussed issues related to Technology, Future-oriented Financial Information, Quality Management, the evolution of assurance, CUSP, AASB processes, and the IESBA’s “public interest entity” definition. Read the Summary for more.

The AASB discussed issues related to the IAASB’s projects on Group Audits and Auditor Reporting. The Board also received an update on its Future-oriented Financial Information project. Read the Summary for full details.

The AASB discussed issues related to the IAASB’s project on audit evidence and fraud. The Board also reviewed a draft Canadian discussion paper on audits of less complex entities.

The AASB discussed issues related to the IAASB’s project on Group Audits and the anticipated exposure draft of a separate standard for audits of less complex entities. The Board approved its 2021-2022 Annual Plan and 2022-2025 Strategic Plan. 

The AASB discussed the anticipated IAASB exposure draft of a proposed standard for Audits of Less Complex Entities and the way forward in Canada. The Board also reviewed a first draft of its 2021-2022 Annual Plan and discussed input received from stakeholders on its Draft 2022-2025 Strategic Plan.

The AASB reviewed its performance assessments for the 2020-2021 Annual Plan and 2016-2021 Strategic Plan and continued discussions on a proposed exposure draft addressing conforming amendments to other Canadian standards as a result of CSQM 1. The Board also approved a project proposal to replace AuG-16, Compilation of a Financial Forecast or Projection with a Canadian Standard on Related Services.