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This summary of decisions of the Auditing and Assurance Standards Board (AASB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by the AASB. Decisions to publish exposure draft and Handbook material are final only after a formal ballot process.
For more detailed information about AASB projects, please refer to the project summaries under Projects. |
Projects Related to the Adoption of International Standards on Auditing The AASB reviewed and discussed comments received on the Exposure Drafts of proposed Canadian Auditing Standards 200, Overall Objective of the Independent Auditor, and the Conduct of an Audit in Accordance with Canadian Auditing Standards, and 500, Considering the Relevance and Reliability of Audit Evidence, and the AASB’s draft responses to the IAASB Exposure Drafts revising ISAs 200 and 500. The AASB reviewed an Exposure Draft of a proposed Canadian Auditing Standard (CAS) that would replace current Canadian Handbook Sections, based on an IAASB Exposure Draft that proposes to redraft in clarity format but not otherwise revise, ISA 700, The Independent Auditor’s Report on General Purpose Financial Statements. The Exposure Draft will be submitted to the AASB for approval by written ballot. The AASB reviewed an Exposure Draft of a proposed Canadian Auditing Standard (CAS) that would replace current Canadian Handbook Sections, based on an IAASB Exposure Draft that proposes to redraft in clarity format and significantly revise ISA 706, Emphasis of Matter Paragraphs and Other Matter(s) Paragraphs in the Independent Auditor’s Report. The Exposure Draft will be submitted to the AASB for approval by written ballot. |
