AASB Decision Summary – June 12-13, 2023
Jun 12, 2023
On June 12, 2023, the Auditing and Assurance Standards Board (AASB) discussed issues related to auditor’s responsibilities relating to fraud in an audit of financial statements, audits of less complex entities (LCEs), IAASB’s project to develop International Standard on Sustainability Assurance (ISSA) 5000, the AASB strategic plan
Fraud: The AASB discussed issues related to the International Auditing and Assurance Standards Board’s (IAASB) proposed revisions to International Standard on Auditing (ISA) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements.
Listed Entity/Public Interest Entity Track-1: The AASB discussed issues related to the IAASB’s narrow-scope amendments project to revise the definitions of “listed entity” and “public interest entity,” including proposed revisions to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance.
Audits of Less Complex Entities (LCEs): The AASB discussed issues related to the IAASB’s project to develop an ISA for Audits of Financial Statements of Less Complex Entities (ISA for LCE).
Sustainability Assurance: The AASB discussed issues related to the IAASB’s project to develop International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.
Access the meeting summary on the FRAS Canada website.
Related Topics
- Amendments to the ISAs/CASs with respect to the IESBA’s revised Definitions of Listed Entities and PIEs [Completed]
- Audits of less complex entities – Phase II [ED]
- Fraud and Going Concern in an Audit of Financial Statements [Completed]
- IAASB: Proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements [ED]
