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Canadian Auditing Standards

Group Audits

Summary

Many audits today are audits of group financial statements – also known as group audits – these types of engagements can be very challenging.

Staff Contact(s)

Birender Gill, CPA, CA Principal, Auditing and Assurance Standards Board

Phone number  +1 416 204 3298
Email address  [email protected]

Project Status

  • Information gathering

    Completed prior to 2016

  • Approving project

    The IAASB approved project proposal in December 2016

  • Engaging Communities

    Exposure Draft issued May 11, 2020

    Consultation activities took place between May and September 2020

  • Deliberating feedback

    IAASB has deliberated feedback received on the Exposure Draft

    AASB Response
  • Final pronouncement

    AASB approved the final standard in March 2022

    CAS 600 issued in Handbook in August 2022

AASB response to the IAASB Exposure Draft on Audits of Group Financial Statements

Our response letter highlights our support for the proposed changes, which clarify many of the issues raised by stakeholders regarding the extant ISA 600.

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Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.