This Exposure Draft consists of:

• an explanation of why change is needed;
• key public interest considerations;
• proposed changes;
• a link to the IAASB’s Exposure Draft, including its Explanatory Memorandum;
• a description of the AASB’s process for adopting ISAs;
• a discussion of proposed significant Canadian amendments; and
• a proposed effective date.

Review the press release and the Exposure Draft on the AASB's website.

Review the press release and the Exposure Draft on the AASB's website.

Review the following on the AASB's website:

• Basis for Conclusions
• Resources to help you get ready
• Video – Compilation Engagements: A new standard

Review the Basis for Conclusions on the AASB's website.

The AASB did not propose any Canadian amendments in ED-CAS 315, as no situations met the amendment criteria as stated in Appendix 1 to the CPA Canada Handbook – Assurance. Also, there were no public interest considerations identified particular to Canada that would require a Canadian amendment. The Board reviewed the changes made from the Exposure Draft to the final standard and concluded the changes would not require a Canadian amendment. Therefore, CAS 315 contains no amendments to the ISA wording.

Reviews the Basis of Conclusions on the AASB’s website.

Review the list on the CPAB's Web Site.

All participating audit firms must enhance their commitment to continuous improvement at every level of their organization and embed a culture of quality to deliver consistent, high quality audits.

Review the report on the CPAB's website.

There has been a brighter spotlight on fraud recently in the wake of high-profile corporate failures. A focus internationally has been on how far an auditor’s responsibility extends in detecting fraud in an audit of the financial statements.

Review the overview on the CPAB's website.

In the wake of international business failures, regulators and standard setters around the world are exploring whether enough is being done to publicly disclose material uncertainties around going concern.

Review the project overview on the CPAB's website.

EER encapsulates many different forms of reporting including, but not limited to, integrated reporting, sustainability reporting and other reporting by entities about financial and non-financial matters, including environmental, social and governance matters, related to an entity’s activities.

The purpose of the IAASB’s Public Consultation on Proposed Guidance, Extended External Reporting Assurance is to promote consistent high-quality application of ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information so as to:

• Strengthen the influence of EER assurance engagements on the quality of EER reports;
• Enhance user trust in the resulting assurance reports; and
• Engender greater confidence in the credibility of, trust in and reliance upon EER reports by their intended users.

The draft non-authoritative guidance addresses Special Considerations in Performing Assurance Engagements on Extended External Reporting.

Review the press release and guidance on the IAASB's webiste.