Quality Control for Assurance Engagements
Details on two new generally accepted auditing standards. While it has yet to be conclusively proven that the well-publicized financial failures of the past few years were the result of audit failures,...
View ArticleMore Change Ahead
This year is shaping up to be a watershed year for standards. Practitioners can look forward to significant changes in a number of key areas. THE audit risk model has been the basis for audit planning...
View ArticleThe Clarity Project
En route to reducing uncertainty in auditing standards. IN January of 2006, the Auditing and Assurance Standards Board (AASB) issued an exposure draft with the lofty title of Improving the Clarity of...
View ArticleThe Auditor’s Report
Proposed Handbook revisions align auditor reports with ISA. IN July 2006, the Auditing and Assurance Standards Board (AASB) issued an exposure draft which will revise Handbook Section 5400, The...
View ArticleTime for a Single Regulator?
Signals indicate Canada may finally establish a common securities regulator. The time is also ripe for reform of accounting and auditing standard setting. Canada is the only major industrialized...
View ArticleCanada Adopts ISAs
Changes to Handbook sections will reflect new international standards and conventions. CICA’s Auditing and Assurance Standards Board (AASB) has announced that as part of the move to international...
View ArticleReview Engagements
Engagements to Review Historical Financial Statements. THE auditing and Assurance Standards Board (AASB) has decided to undertake a project on review engagements. The obvious question is: why now?...
View ArticleReview Engagements Under Review
Keeping up with the times and variations in practice. THE Auditing and Assurance Standards Board (AASB) continues its work to revise the standards for review engagements. The AASB believes that...
View ArticleA new spring for COSO
IN December 2011, the Committee of Sponsoring Organizations (COSO) of the Treadway Commission, one of the world’s best-known contributors to research on risk management and internal control, released...
View ArticleReview Engagement Standards 2013—Part I
Differences between the proposed amendments for Canadian and international standards. IN late June 2013, the Auditing and Assurance Standards Board (AASB) released its proposals for revisions to the...
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