Auditor reporting guide: Reporting implications of Canadian Auditing Standards (CAS): 3rd edition

Published on: Feb 28, 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 Canadian Auditing Standards has been developed by the Task Force on Audit Reporting Implications of the New Canadian Auditing Standards. 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 new in the 3rd edition:

  • Chapter 5, Audits of Historical Financial Information Other than Financial Statements
    • Illustrations —The going concern basis of accounting has been changed to not be relevant in the assumptions to the illustrations in this chapter.
  • Chapter 8, Summary Financial Statements
    • Q&A 9 — Additional guidance has been added to assist practitioners in determining the reporting implications on the auditor's report when documents contain or accompany the summary financial statements.
  • Chapter 11, Going Concern
    • Q&As 1, 2 and 4 — Additional guidance has been added to assist practitioners in determining whether the going concern basis of accounting is a "fundamental principle" when reporting on a complete set of special purpose financial statements and when reporting on other historical financial information (i.e. not a complete set).
  • Chapter 14, Other Information
    • Q&A 1 — Additional guidance has been added for examples of documents that do not typically meet the definition of an "annual report." Additional guidance has been added to clarify the characteristics that make up the definition of an annual report.


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