Updated in the last 3 months - Assurance

Assurance

Projects updated in the last three months:

Title Description Last step Date Added
Amendments to the ISAs/CASs with respect to the IESBA’s revised Definitions of Listed Entities and PIEs [ED] The IAASB discussed and approved a project proposal to undertake a narrow scope maintenance of standards project on listed entities and PIEs. This project sets out the IAASB’s actions to respond to recent revisions to the IESBA Code as a result of their project on the Definitions of Listed Entity and PIE. Research Nov 30, 2022
Audit Evidence [ED] The objectives of the project are to: (a) explore issues relevant to audit evidence, including those arising from technology, professional skepticism and the growing number of sources of information available to auditors; and (b) identify and implement actions to address these issues, which may include revisions to ISA 500 or other actions, such as non-authoritative guidance Exposure draft Nov 30, 2022
Audits of less complex entities – Phase II [ED] This project addresses the challenge of applying the CASs to audits of LCEs, including whether to pursue a separate standard for audits of LCEs in Canada. Exposure draft Jan 31, 2023
Fraud and Going Concern in an Audit of Financial Statements [Research] The objective of this project is to gather perspectives from a broad range of stakeholders across the financial reporting ecosystem about the role of the auditor in relation to fraud and going concern in an audit of financial statements Research Nov 30, 2022
IAASB: Development of an Overarching Standard for Assurance on Sustainability Reporting [Research] The IAASB approved the project proposal for the development of an overarching standard for assurance on sustainability reporting Research Nov 30, 2022
Reports on the Application of Accounting Principles (Possible Amendments to Section 7600) [Completed] Opinion shopping services, as described in Section 7600, "Reports on the Application of Accounting Principles", are only rarely performed in practice today. Preliminary research suggests that entities (particularly public companies) do not ask their auditors for guidance when making accounting or financial statement disclosure decisions. Instead, entities are engaging practitioners other than their auditors to provide advice on the appropriate application of complex aspects of a financial reporting framework. Completed Dec 31, 2022
Revisions to the Joint Policy Statement (JPS) Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors [Completed] This project proposes to revise the Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors Exposure draft Jan 31, 2023

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