At its meeting on July 7, 2015, the AASB unanimously approved an Exposure Draft of Canadian Standard On Assurance Engagements (CSAE) 3530, Reports on Compliance with Agreements, Statutes and Regulations. The proposed new standard would replace Sections 5800, 5815, and 8600.

Review the Decision Summary on the AASB’s Web site.

At its meeting on July 7, 2015, the AASB discussed issues related to the adoption of ISA 720 (Revised). Possible Canadian amendments discussed related to: (i) the definition of what constitutes the annual report in a Canadian context; and (ii) the reporting requirements dealing with other information received after the date the financial statements are issued. The AASB did not conclude on the Canadian amendments and did not approve an ED. The AASB will continue to discuss these issues with a goal of approving an Exposure Draft during the late summer or early fall of 2015.

Review the Decision Summary on the AASB’s Web site.