A summary of the message is as follows:

• Changes to Sections 5815 and 8600

In light of the possible confusion about the application of the existing Sections, the AASB have decided to revise the scope of Sections 5815 and 8600 to make it clear that they apply to all compliance reporting engagements. The change will also allow the practitioner to adapt the wording of the practitioner’s report as necessary when undertaking an attestation compliance reporting engagement. For example, the revised scope would make it clear that Section 5815 may be used when reporting in accordance with National Instrument 81-102. The AASB expects that these revisions will be reflected in the Handbook in October 2017.

• Compliance reporting engagements and CSAE 3000 or 3001

The existing Sections do not require the practitioner to comply with both the existing Sections and CSAE 3000 or 3001 when performing compliance reporting engagements. Rather practitioners should continue to use the existing Sections.

• Compliance reporting standards being replaced

In April 2017, The AASB issued a Re-Exposure Draft addressing reporting on compliance with agreements, statutes and regulations – which links the new reporting requirements to CSAE 3000 and 3001 and will introduce new standards namely, proposed CSAE 3530, Special Considerations – Attestation Engagements to Report on Compliance, and proposed CSAE 3531, Special Considerations – Direct Engagements to Report on Compliance. These standards would replace the existing Sections 5815 and 8600. The AASB proposed an effective date for the new standards of April 1, 2019. At that time, practitioners will begin performing compliance reporting engagements in accordance with either CSAEs 3000 and 3530 or CSAEs 3001 and 3531, as appropriate to the engagement circumstances.

Re­view the mes­sage from the Chair on the AASB's web­site.