Resources

This FAQ addresses investigating exceptions and the concept of performance materiality when using automated tools and techniques while executing auditing procedures. Read for full details.

Interested in learning more about the proposed changes to CAS 570 and ISA 570? Watch the recorded AASB and CPAB webinar, hosted by CPA Canada, to learn about going concern considerations in the current macroeconomic and geopolitical environments, and the recent Exposure Draft on CAS 570, Going Concern.

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 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.

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. 

The AASB joined CPAB in a webinar discussion on the auditor’s responsibilities related to fraud in an audit and considerations for the Canadian environment, and the IAASB’s proposed changes to ISA 240. Watch in English or French to hear about our views on this important topic! 

In collaboration with the ACCA, CPA Canada, and CA ANZ, the AASB issued a joint report – Closing the expectation gap in audit – The way forward on fraud and going concern: A multi-stakeholder approach. The report provides recommendations on how to narrow the expectation gap in the areas of fraud and going concern, based on feedback from virtual roundtables held across the globe. Read the report for full details.

Learn how the AASB developed and approved its Strategic Plan 2022-2025 – including conclusions reached on the significant comments received. 

Although the external audit is only one element within the broader financial reporting ecosystem, the auditor’s role in audits of financial statements continues to receive heightened public attention. We’re working to better understand the expectation gap between the perception of the auditor’s role and their responsibilities in a financial statement audit. Read this article to learn more about our outreach initiatives, and watch a video excerpt from our recent presentation on this topic!

Did you conclude that your company did not have material uncertainties associated with its ability to continue as a going concern? Would small changes to the assumptions you used change that assessment? Read this joint resource issued by the AcSB and AASB on accounting and auditing considerations relating to close call going concern assessments.