News Listings

The Board discussed its 2023-2024 Annual Plan, 2022-2023 Performance Assessment, Emerging Issues, and the IAASB’s projects on Audit Evidence, Going Concern, Sustainability, and more. Read the Decision Summary for full details. 

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The AASB is seeking your input and help in responding to the IAASB’s Proposed Strategy and Work Plan for 2024-2027. The survey is designed to gather your input on which projects should be prioritized by the IAASB. Read the work plan and provide your input via our survey by March 31, 2023.

The AASB and the Canadian Actuarial Standards Board jointly issued a revised JPS to enhance communications between actuaries and auditors. The JPS will be appended to CAS 500, Audit Evidence.

The AASB has developed guidance to address the impact on Canadian Auditing Standards and Canadian Standard on Review Engagements of certain narrow-scope amendments made to IAS 1, Presentation of Financial Statements.

The Board discussed developing a new Canadian Standard on Related Services on compilations of future-oriented financial information and approved a Canadian Project Proposal for sustainability assurance. It also discussed annual planning, the Strategic Plan 2022-2025, and more. Read the Decision Summary for full details.

Are you interested in hearing about the proposed changes to CAS 500, Audit Evidence? Watch the recorded webinar, hosted by CPA Canada, to learn about the subject from members of the AASB’s Audit Evidence Advisory Group.

The Board discussed issues related to the IAASB’s projects on Audits of LCEs, Fraud, Going Concern, Listed Entity/PIE, Sustainability, and more. The Board approved the final JPS with Actuaries and received a presentation from CPAB. Read the full decision summary for more details.

The Board discussed the IAASB’s project to revise ISA 500, Audit Evidence, revisions to IAS 1 to necessitate revisions to the CPA Canada Handbook – Assurance, and the emerging issues in the audit and assurance environment. The AASB also discussed establishing a Sustainability Assurance Committee, and more. Read the Decision Summary for full details. 

In 2022, an independent research study on KAM reporting was undertaken to gain further insights on the Canadian experience. Lessons learned from the research study can be found here.