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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 approved Exposure Drafts of proposed Canadian Auditing Standards (CASs) that would either revise and replace current Canadian Handbook Sections, or result in new standards, based on the equivalent ISAs. These Exposure Drafts fall into two categories:
- The first category includes Exposure Drafts that are based on IAASB Exposure Drafts that propose to redraft in clarity format, but not otherwise revise, the following ISAs:
| — | ISA 230, Audit Documentation | | — | ISA 560, Subsequent Events | | — | ISA 610, The Auditor’s Consideration of the Internal Audit Function | | — | ISA 720, The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements |
- The second category includes Exposure Drafts that are based on IAASB Exposure Drafts that propose to both redraft in the clarity format, and significantly revise the following ISAs:
| — | ISA 540, Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures | | — | ISA 580, Written Representations |
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