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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. |
Canadian-Specific Projects Internal Control over Financial Reporting
The AASB discussed key issues related to this project. Auditor Review of Interim Financial Statements ― Reporting
The AASB discussed key issues related to this project. Operations Planning
The AASB discussed issues related to developing updated operations plans for 2007-2008 and 2008-2009. Future CICA Handbook – Assurance
The AASB approved criteria that the AASB will apply in deciding whether various standards (other than those relating to financial statement audits) and guidelines would be carried forward into the new CICA Handbook – Assurance and, if so, in what form. The AASB also discussed other key issues related to the form and content of the future Handbook. Projects Related to the Adoption of International Standards on Auditing - The AASB discussed issues relating to the following IAASB projects:
- ISA 700, The Independent Auditor’s Report on General Purpose Financial Statements
- ISA 800, Special Considerations — Audits of Special Purpose Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
The AASB reviewed comments received on its Exposure Draft of proposed Canadian Auditing Standard 570, Going Concern. The AASB also reviewed and provided comments on a draft letter the AASB is sending to the IAASB in response to its Exposure Draft of ISA 570. |
