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Canadian Auditing Standards

Proposed Deferral of the IAASB’s Public Interest Entity Narrow-Scope Amendments

Summary

The Auditing and Assurance Standards Board (AASB) proposes, subject to comments received following exposure, not to adopt at this time the International Auditing and Assurance Standards Board’s (IAASB) proposed narrow-scope amendments to: 

  • the International Standards on Quality Management; and  
  • the International Standards on Auditing. 

The IAASB proposed these amendments as a result of the revisions to the definitions of Listed Entity and Public Interest Entity in the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (Including Independence Standards). 

Staff Contact(s)

Karen DeGiobbi, CPA, CA Director, Auditing and Assurance Standards Board

Phone number  +1 416 204 3337
Email address  [email protected]

Read the written feedback we received and stay up to date with this project.

Read the AASB’s response to the IAASB’s Track 2 Exposure Draft – “Proposed Narrow Scope Amendments to ISQMs, ISAs, and International Standard on Review Engagements 2400 (Revised), Engagements to Review Historical Financial Statements”.

Response Booklet - AASB Exposure Draft, Proposed Deferrral of the IAASB’s Public Interest Entity Narrow-scope Amendments
AASB Exposure Draft – Proposed Deferral of the IAASB’s Public Interest Entity Narrow-Scope Amendments

Background

The AASB proposes, subject to comments received following exposure, not to adopt at this time the International Auditing and Assurance Standards Board’s (IAASB) proposed narrow-scope amendments to: 

  • the International Standards on Quality Management; and  
  • the International Standards on Auditing. 

The IAASB proposed these amendments as a result of the revisions to the definitions of Listed Entity and Public Interest Entity in the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (Including Independence Standards).