Auditor reporting guide: Reporting implications of Canadian Auditing Standards (4th edition)

Published on: Dec 23, 2019

The purpose of this publication is to promote consistency in the form and content of practitioners' reports by providing guidance with respect to commonly occurring circumstances. This guide does not amend or override auditing or review standards, the texts of which alone are authoritative, nor does it necessarily address all audit reporting changes resulting from the Canadian Auditing Standards (CAS).

Reporting Implications of the Canadian Auditing Standards has been developed by the Reporting Implications of Assurance Standards Task Force. The material in this guide represents the views of the task force.

Guide format:

  • a series of issues presented in Q&A format
  • illustrative reports

These are designed to help you understand and apply requirements and supporting guidance issued by the Auditing and Assurance Standards Board (AASB) relating to reporting.

What's changed in the 4th edition of the guide?

  • A new chapter, Chapter 13: Key Audit Matters (KAMs) has been added to the guide to assist the auditor when CAS 701, Communicating Key Audit Matters in the Independent Auditor's Report applies.
  • The Q&As summarize how key audit matters are to be communicated in the auditor's report and the reporting implications on key audit matters when the auditor is found to be in different reporting situations.
  • New Q&As have been added to the following chapters:
    • Chapter 2: Addressing and Dating of the Report — Q&A 1 —Who is the appropriate addressee of the report?
    • Chapter 12: Group Audits — Q&A 4 — If the auditor is both the group auditor and the component auditor for all components in the group, is the group auditor responsibility paragraph included?
    • Chapter 14: Other Information — Q&A 8 — What are the reporting implications when the opinion is qualified due to a scope limitation?
  •  A new illustration has been added to Chapter 14: Other Information — Illustration 4 — A not-for-profit entity other than a listed entity, with a qualified opinion when the auditor has obtained all of the other information prior to the date of the auditor's report and there is a limitation of scope related to the completeness of revenue.


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