Future-Oriented Financial Information (Possible Amendments to AuG-6 and AuG-16) [Research]

Next Steps:

The AASB expects to issue an Exposure Draft in September 2024

Last up­dated:

May 2023


This project will determine what authoritative guidance, if any, is needed in the CPA Canada Handbook to address assurance matters pertaining to future-oriented financial information.

Currently this information is addressed in two Assurance and Related Services Guidelines:

Key issues that will be addressed include: (i) whether there is still a need for the Handbook to contain authoritative guidance on future-oriented financial information; (ii) if authoritative guidance is needed, whether that guidance should be in the form of a standard or one or more guidelines; (iii) the effect of the absence of an accounting standard relating explicitly to this information; and (iv) the effect of developments since AuG-6 and AuG-16 were originally issued (for example, Canadian securities regulations no longer require the examination by an independent accountant of future-oriented financial information included in a public offering document).


Other developments

May 2023

In May 2023, the AASB up­dated the pro­ject to in­di­cate that the AASB ex­pects to is­sue an Ex­po­sure Draft in September 2024.

March 2023

In March 2023, the AASB updated the project to indicate that the AASB expects to issue an Exposure Draft in October 2023.

September 2020

On September 21, 2020, the AASB released a survey for practitioners that assist entities in preparing future-oriented financial information (FOFI). FOFI includes budgets, forecasts or projections. Complete the survey by October 23, 2020.

June 2020

On June 1, 2020, the AASB added a notice to both AuG-6 and AuG-16 regarding the AcSB’s decision to remove Part V from the CPA Canada Handbook – Accounting and to retain the content of Section 4250 as non-authoritative guidance for future-oriented financial information in the CPA Canada Standards and Guidance Collection.

January 2012

In January 2012, the AASB approved a project proposal to develop a new Canadian standard or other authoritative guidance for engagements dealing with prospective financial information. The standard or guidance (if any) will update or replace Assurance and Related Services Guidelines AuG-6 and AuG-16.


Related Interpretations

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