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Compilation Engagements – AASB

Date recorded:

At its meeting on October 7-8, 2019, the AASB approved Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements. CSRS 4200 will replace Section 9200, Compilation Engagements, and Assurance and Related Services Guideline (AuG) 5, Compilation Engagements – Financial Statement Disclosures. CSRS 4200 is effective for compiled financial information for periods ending on or after December 14, 2021.

The AASB concluded that the revisions to the standard were significantly different from the proposals in the Exposure Draft, “Compilation Engagements." The Board decided not to re-expose the changes as they do not significantly increase the practitioner’s work effort and responsibility. The Board concluded re-exposure would not reveal any new information of which it had not already been made aware. Re-exposure would also unnecessarily delay the implementation of the standard.

Once the Auditing and Assurance Standards Oversight Council confirms that the AASB followed due process with proper regard for the public interest, it is expected CSRS 4200 will be issued in the February 2020 CPA Canada Handbook – Assurance update.

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

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