AASB Exposure Draft – Compilation Engagements

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Sep 04, 2018

On September 4, 2018, the Auditing and Assurance Standards Board (AASB) issued an Exposure Draft of a proposed new standard dealing with engagements to compile financial information that would replace the existing Section 9200, Compilation Engagements. Stakeholders are encouraged to submit their comments by November 30, 2018.

The AASB proposes to issue a new Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements. This standard would replace:

  • Section 9200, Compilation Engagements and
  • AuG-5, Compilation Engagements – Financial Statement Disclosures

The main features of the Exposure Draft include:

  • Addressing the public interest issues
  • The clarity format
  • Quality control

The AASB is proposing that CSRS 4200 be effective for compiled financial information for periods ending at least 12 months after the issuance of the final standard into the Handbook. The effective date is anticipated to be in the second half of the year 2020. Earlier application of CSRS 4200 would be permitted.

Review the Exposure Draft on the AASB's website.

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