Fraud – AASB
Date recorded:
At its meeting on March 7-8, 2022, the AASB provided input to the IAASB members from Canada on issues related to the IAASB’s project to revise ISA 240. Key issues discussed included: (i) identifying and assessing risks of material misstatement due to fraud; (ii) communication with those charged with governance; (iii) transparency in reporting on fraud; and (iv) developing non-authoritative guidance illustrating the relationship between and linkage of ISA 240 and other ISAs.
