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Revisions to ISA 315 – AASB

Date recorded:

At its meeting on December 2-3, 2019, the AASB approved the 2019 revisions to CAS 315, including the related conforming amendments to other standards. There were no changes made from a Canadian standpoint (i.e., there was no addition, modification, or deletion of a Canadian amendment) in finalizing the standard. Therefore, no re-exposure was necessary. The revised CAS 315 will be effective for audits of financial statements for periods beginning on or after December 15, 2021. Once the AASOC confirms that the AASB has followed due process with proper regard for the public interest, the AASB expects that the 2019 revisions to CAS 315 will be included in a CPA Canada Handbook – Assurance update in May 2020.

Review the executive summary on the AASB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.