New Auditor Reporting - AASB
At its meeting on June 27, 2016, the AASB discussed different approaches for reflecting the new auditor reporting standards in the Handbook, including during the transition period prior to their effective date. The AASB deliberated whether to allow earlier application of the standards in Canada and possible application dates. The AASB plans to issue a Message from the Chair to update stakeholders on the key decisions reached and expects to approve the final standards at its next meeting in September 2016.
Review the executive summary on the AASB's Web site.