Auditor's Consent to the Use of a Report of the Auditor Included in an Offering Document (Amendments to Section 7150) [Completed]
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Effective date: |
Effective for an auditor’s consent to the use of a report of the auditor in an offering document issued on or after January 1, 2016. Earlier application will be permitted. |
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Included in the CPA Canada Handbook - Assurance: |
November 2015 |
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Last updated: |
March 2019 |
Overview
The proposed amendments to Section 7150, Auditor's Consent to the Use of a Report of the Auditor Included in an Offering Document, are being made primarily to address the requirements of stock exchanges (recognized by securities regulatory authorities in Canada) for the auditor’s consent to include certain statements. In addition, the AASB is proposing a number of amendments to correct an oversight in the previous drafting of Section 7150, and to improve the clarity of the Section.
Other developments
November 2015
On November 3, 2015, the AASB released the Basis for Conclusions, where it summarizes the process followed in developing amendments to this standard and the conclusions it reached.
March 2015
On March 27, 2015, AASB issued its Exposure Draft, Auditor's Consent to the Use of a Report of the Auditor Included in an Offering Document, which proposes limited amendments to Section 7150. Comments requested by May 1, 2015.