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AASB Re-exposure Draft – Reporting on Compliance

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Apr 19, 2017

On April 19, 2017, the Auditing and Assurance Standards Board (AASB) has issued a Re-exposure Draft of two proposed new standards that would replace existing Sections dealing with special reports on an entity’s compliance with agreement, statutes and regulations. Stakeholders are encouraged to submit their comments by July 28, 2017.

The AASB proposes, subject to comments received following re-exposure, to issue Canadian Standards on Assurance Engagements (CSAE) 3530, Special Considerations — Attestation Engagements to Report on Compliance, and CSAE 3531, Special Considerations — Direct Engagements to Report on Compliance. These standards would replace:

  • SPECIAL REPORTS — INTRODUCTION, Section 5800;
  • SPECIAL REPORTS — AUDITOR’S REPORTS ON COMPLIANCE WITH AGREEMENTS, STATUTES AND REGULATIONS, Section 5815; and
  • REVIEWS OF COMPLIANCE WITH AGREEMENTS AND REGULATIONS, Section 8600.

The standards would also replace AUDITING FOR COMPLIANCE WITH LEGISLATIVE AND RELATED AUTHORITIES IN THE PUBLIC SECTOR, paragraphs PS 5300.11-.13, addressing engagements that require an auditor, depending on the audit mandate, to express an opinion on whether an entity complied with specified authorities or whether its transactions were carried out in compliance with specified authorities.

Review the Re-exposure Draft on the AASB's Web site.

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