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In Brief Podcast – The impact of the AASB’s Exposure Draft on Reporting on Controls at a Service Organization on Practitioners reporting in both Canada and the United States

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Feb 11, 2019

On February 11, 2019, the Auditing and Assurance Standards Board (AASB) released a podcast that provides an overview, in light of the recently released exposure draft, of key considerations for practitioners required to report on controls at a service organization under both Canadian and U.S. standards.

Practitioners required to report under both Canadian and U.S. standards need to understand how their approach to these engagements will change should the proposed standard become effective.

There are two key changes that practitioners should be aware of:

  • The AICPA introduced two new overarching standards required to be applied by practitioners, in addition to their standalone service organization standard.
  • There are some areas within proposed CSAE 3416 where the AASB concluded that additional requirements, beyond those in the AICPA equivalent standard, are necessary.

Listen to the podcast and review the transcript on the AASB's website.

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