This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Audits of Less Complex Entities – AASB

Date recorded:

At its meeting on July 15, 2021, the AASB discussed a draft Canadian discussion paper,” Exploring Standard-setting Options for Audits of Less Complex Entities.” This discussion paper will seek input from stakeholders on possible options to explore in Canada to address the challenge of applying the CASs to audits of less complex entities.

This discussion paper also seeks views on:

  1. the concept of a separate standard for the audit of less complex entities; and
  2. the IAASB’s Exposure Draft, “Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities.”

The AASB expects to approve the Canadian discussion paper in August 2021, for issuance in September 2021.

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.