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AASB approves Assurance and Related Services Guideline (AuG) 49

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Jun 29, 2018

On June 29, 2018, the Auditing and Assurance Standards Board (AASB) unanimously approved new 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.

The Board also approved related consequential amendments to Canadian Standard on Related Services (CSRS) 4460, Reports on Supplementary Matters Arising from an Audit or a Review Engagement.

The Board concluded that changes made in finalizing the guideline were not significantly different from the proposals in the Exposure Draft and determined that re-exposure is not needed. The new guideline will be effective for reports dated on or after April 1, 2019, with early application permitted. The guideline is expected to be included in a Handbook update in September 2018.

For further details refer to the related project on the AASB’s website.

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