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If you are a Canadian private enterprise, an advisor to one, or a user of private enterprises’ financial reports, then sign up for an upcoming webinar! Learn about proposed amendments to the accounting for retractable or mandatorily redeemable shares, and other financial instruments. Join in on December 3, 2018 (English) or December 14, 2018 (French).

October 16, 2018. Tune in to this webinar on November 16, 2018 (English) or November 22, 2018 (French) to learn about the key features of PSAB’s Invitation to Comment, “Employment Benefits: Non-traditional Pension Plans.”

Are you interested in exploring ways to enhance trust and credibility in information beyond traditional financial statements? CPA Canada and staff of the Audit and Assurance Standards Board are seeking auditors, audit committee members and preparers of financial information to participate in a research initiative on this topic. Sign up today!

Listen to this 60-minute IAASB webinar to understand how the proposed revisions to ISA 315 (Revised) aim to enhance the auditor’s procedures in identifying and assessing the risks of material misstatement, ultimately improving audit quality. Webinar available in English only.

We are pleased to announce that Lisa French, CTO, International Integrated Reporting Council; Benjamin Yeoh, Sr. Portfolio Manager, RBC, Global Asset Management; and Trent W. Klein, Director — Finance, TELUS Corp, were appointed to IASB’s Management Commentary Consultative Group. The Group was established to advise the IASB as it develops proposals for updating its guidance on management commentary in financial reports.

The AASB unanimously approved an exposure draft of a proposed new standard on compilation engagements to replace Section 9200, Compilation Engagements. Set to be issued September 4, 2018, comments will be due November 30, 2018. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay tuned for more!

Approved! Exposure Draft of a Proposed Revised Standard on Identifying and Assessing the Risks of Material Misstatement

The AASB unanimously approved a Canadian exposure draft of revised CAS 315. The exposure draft is based on the IAASB’s exposure draft of proposed changes to ISA 315, with no proposed Canadian amendments. Set to be issued September 7, 2018, comments will be due November 2, 2018. To support you in providing feedback, we are doing extensive outreach and will be issuing numerous plain language resources. Stay tuned for more!

The International Auditing and Assurance Standards Board (IAASB) issued an Exposure Draft proposing changes to ISA 315 that could drive more consistent and effective identification and assessment of the risks of material misstatement. Stakeholders are invited to comment by November 2, 2018.

At its November 9-10, 2017 meeting, AASOC approved revised Terms of Reference, which were updated following a joint review of the activities of AASOC and AcSOC. The Terms of Reference of both Councils are now more closely aligned and reflect current oversight procedures.

The choice of discount rate could have significant effects on the benefit obligation reported. Read this article to learn about the debate on which discount rate would best reflect the time value of money in determining the benefit obligation.