News Listings

The Board discussed its draft response to the IAASB’s Exposure Draft, “Proposed Narrow Scope Amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance”. Read the Decision Summary for full details.

The Board discussed its draft response to the IAASB’s Exposure Draft, “Proposed Narrow Scope Amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance.” It also discussed issues related to Audit Evidence, Fraud, Going Concern, Sustainability, and more. Read the full Decision Summary for details.

The AASB has provided an update on its progress to finding a solution for practitioners in applying Canadian Auditing Standards to audits of less complex entities. Read the Report for full details.

Share your views on the AASB Exposure Draft – Proposed Narrow-scope Amendments to CAS 700, Forming an Opinion and Reporting on Financial Statements, and CAS 260, Communication with Those Charged with Governance. Submit your comments by September 16, 2022. For full details, visit the Document for Comment page.

The Board discussed the process for engaging interested and affected parties on standard setting projects, revisited its 2022-2023 Annual Plan, approved the exposure draft related to Listed Entity/Public Interest Entity, and more. Read the Decision Summary for full details.

The IAASB has issued several resources to assist practitioners in the first-time implementation of new and revised quality management standards. These include guides for ISQM 1, ISQM 2 and ISA 220 (Revised), and a definition of an engagement team fact sheet. Refer to the IAASB’s focus area web page for these and other resources.

Learn more about the IAASB’s new and revised quality management standards with two on-demand video panel discussions. The International Federation of Accountants created the video panel discussion to support implementation by small and medium-sized practices. The discussions aim to help practitioners design their systems of quality management as Canada adopts the International standards.

The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of narrow scope amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance. Comments are due to the IAASB on October 4, 2022. The AASB is expected to issue its related exposure draft on August 9, 2022.

Share your views on the joint Exposure Draft – Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors, issued by the AASB and the Canadian Actuarial Standards Board. Submit your comments by September 19, 2022!

Read our In Brief for an overview of the Exposure Draft, Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors. You can share your feedback on this joint Exposure Draft by the AASB and the Canadian Actuarial Standards Board by September 19, 2022.