At its meeting on October 19, 2020, the AASB received a presentation from the International Auditing and Assurance Standards Board’s (IAASB) Chair, Tom Seidenstein, and its Technical Director, Willie Botha. Their presentation was about the IAASB’s work to address issues identified by respondents to the IAASB’s Discussion Paper. The Board also discussed Canadian actions the AASB may consider taking to ensure the CASs are fit for purpose in an audit of the less-complex elements of an entity’s operations and financial statements.

Review the Executive Summary on the AASB's Web site.

At its meeting on October 19, 2020, the AASB reviewed a draft response to the IAASB’s “Auditor Reporting Post-Implementation Review Stakeholder Survey” for national standard setters. The response was informed by outreach the Board conducted in the late summer and early fall 2020 with practitioners, preparers, and those charged with governance.

Review the Executive Summary on the AASB's Web site.