Update of Public Sector Auditing Standards - AASOC
Date recorded:
At its meeting on February 16, 2017, the AASOC and AASB discussed issues related to the AASB project to update the Sections in the CPA Canada Handbook – Assurance dealing with the special circumstances that may apply to the audits of public sector entities. In particular, the AASB focused its discussion on a new guideline that is being developed to address one part of Section PS 5300. Issues discussed included whether: the guideline should address performance of the engagement or focus only on reporting; and the compliance opinion should be stand-alone or included within the auditor’s report on the financial statements.
Review the minutes on the AASOC's Web site.