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.

AASB Exposure Draft – Reporting on Compliance with Specified Authorities for Transactions Coming to the Auditor’s Notice During the Audit of Financial Statements

  • AASB Image

Aug 01, 2017

On August 1, 2017, the Auditing and Assurance Standards Board (AASB) issued an Exposure Draft of a proposed new guideline that would replace an existing Standard. Stakeholders are encouraged to submit their comments by November 28, 2017.

The AASB proposes, subject to comments received following exposure, to issue Assurance and Related Services Guideline AuG-49, Reporting on Compliance with Specified Authorities for Transactions Coming to the Auditor’s Notice during the Audit of Financial Statements.

AuG-49 would replace AUDITING FOR COMPLIANCE WITH LEGISLATIVE AND RELATED AUTHORITIES IN THE PUBLIC SECTOR, paragraphs PS 5300.14-.16.

This Exposure Draft consists of:

  • Scope of proposed AuG-49
  • Separate section in the auditor’s report 
  • Wording of the opinion 
  • Modified opinions 
  • Alerting users about the auditor’s interpretations of requirements 
  • Form of report 

Although Guidelines typically become effective as at the date of issuance, the AASB proposes that AuG-49 would become effective for reports dated on or after April 1, 2019. This effective date aligns with the proposed effective date for CSAE 3530 and CSAE 3531. The AASB plans to withdraw Section PS 5300 once these new standards are effective.

Review the exposure draft on the AASB's Website.

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.