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Revisions to ISA 315 – AASB

Date recorded:

At its meeting on September 9-10, 2019, the AASB provided input to the IAASB members from Canada on issues related to proposed ISA 315 (Revised). The Board discussed: (i) changes to the proposed requirements for understanding components of internal control; (ii) the proposed effective date; and (iii) re-exposure considerations of the final revised ISA 315. The IAASB expects to approve ISA 315 (Revised) in September 2019 and issue it in November 2019. The AASB plans to approve the Canadian equivalent standard shortly thereafter.

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.