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 Revisions in the Short Term to Standards for Assurance Engagements
The AASB discussed possible short-term revisions to certain assurance standards to address matters relating to the dating of the practitioner’s report. These matters will be discussed further at a future meeting. Assurance Engagement Standard re Assurance on a Greenhouse Gas Statement
The AASB reviewed and approved its request for Canadian stakeholders to provide input on the IAASB’s Consultation Paper regarding the development of ISAE 3410, Assurance on a Greenhouse Gas Statement. Auditor Review of Interim Financial Statements, Section 7050
Existing paragraph 7050.62 deals in part with an auditor’s report on a summarized balance sheet and refers to Assurance and Related Services Guideline AuG-25 “Auditor’s Report on Summarized Financial Statements.” The AASB reviewed and approved amendments to this paragraph to replace the reference to AuG-25 with a reference to Canadian Auditing Standard (CAS) 810, Engagements to Report on Summary Financial Statements, and to make the wording consistent with relevant guidance in CAS 810. The AASB concluded that it was appropriate to make this conforming change without public exposure. Guidance on Auditing Complex Financial Instruments
The AASB reviewed and approved its request for Canadian stakeholders to provide input on the IAASB’s Consultation Paper regarding the development of guidance on auditing complex financial instruments. |