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Assurance | Deloitte CFR

You can find more about assurance standards that are of interest to financial statement users by selecting the standard you are interested in from the following table or from the left navigation. The following is a list of selected standards that would be of interest to preparers and users of financial statements.

Title Description Effective Date
AuG-49, Reporting on Compliance with Specified Authorities for Transactions coming to the Notice of the Auditor during the Audit of Financial Statements This Guideline provides guidance to auditors of public sector entities on the form of the auditor's report when expressing an audit opinion on whether the transactions that have come to the auditor's notice during the audit of financial statements complied with specified authorities. Effective for reports dated on or after April 1, 2019, with earlier adoption permitted.
CPA Professional Conduct: Auditor independence — Harmonized Rule of Professional Conduct (Rule 204) Rule 204 sets out the Canadian profession’s standards, ensuring Chartered Professional Accountants (CPAs) maintain auditor independence during engagements they undertake or participate in. It sets the standards and requirements CPAs must maintain as part of their professional conduct. The most recent version of Rule 204 was issued on November 14, 2014 and is generally effective for the first reporting period commencing after December 15, 2014
COSO’s Updated ERM Framework: Enterprise Risk Management–Integrating with Strategy and Performance (2017) The COSO released its ERM Framework “Enterprise Risk Management–Integrating with Strategy and Performance”. The updated edition is designed to help organizations create, preserve, and realize value while improving their approach to managing risk.
CSOA 5000, Use of the Practitioner’s Communication or Name (formerly titled Association) This Canadian Standard on Association (CSOA) deals with the practitioner’s professional responsibilities when the practitioner has performed a service for the entity that is within the scope of the Handbook, and the practitioner: (a) Is requested by the entity to consent orally or in writing to the use of the practitioner’s communication or name in connection with accompanying information; (b) Is requested by the entity to consent orally or in writing to, or otherwise CSOA 5000 is effective for a practitioner’s consent provided on or after June 1, 2017.
CSAE 3530, Attestation Engagements to Report on Compliance CSAE 3530 deals with attestation engagements to report on management's explicit written statement of an entity's compliance with specified requirements. Effective for attestation engagements to report on management's statement of an entity's compliance when the practitioner's report is dated on or after April 1, 2019.
CSAE 3531, Direct Engagements to Report on Compliance CSAE 3531 deals with direct engagements to report on an entity's compliance with specified requirements Effective for direct engagements to report on an entity's compliance when the practitioner's report is dated on or after April 1, 2019.
Section 9110, Agreed-upon Procedures regarding Internal Control over Financial Reporting Section 9110 establishes standards and provides guidance on the public accountant's professional responsibilities in conducting an agreed-upon procedures engagement regarding internal control over financial reporting and on the form and content of the report that the public accountant issues in connection with such an engagement. Effective May 1, 2007
CAS 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Canadian Auditing Standards This Canadian Auditing Standard (CAS) deals with the independent auditor's overall responsibilities when conducting an audit of financial statements in accordance with CASs. Specifically, it sets out the overall objectives of the independent auditor, and explains the nature and scope of an audit designed to enable the independent auditor to meet those objectives. It also explains the scope, authority and structure of the CASs, and includes requirements establishing the general responsibilities of the independent auditor applicable in all audits, including the obligation to comply with the CASs. Effective for audits of financial statements for periods ending on or after December 14, 2010, except for subsequent amendments. Paragraph C20A is effective for audits of financial statements for periods ending on or after September 1, 2012.
CAS 210, Agreeing the Terms of Audit Engagements This Canadian Auditing Standard deals with the auditor's responsibilities in agreeing the terms of the audit engagement with management and, where appropriate, those charged with governance. Effective for audits of financial statements for periods ending on or after December 14, 2010.
CAS 220, Quality Control for an Audit of Financial Statements This Canadian Auditing Standard deals with the specific responsibilities of the auditor regarding quality control procedures for an audit of financial statements. It also addresses, where applicable, the responsibilities of the engagement quality control reviewer. It is to be read in conjunction with relevant ethical requirements. Effective for audits of financial statements for periods ending on or after December 14, 2010.
CAS 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements This Canadian Auditing Standard (CAS) deals with the auditor's responsibilities relating to fraud in an audit of financial statements. Misstatements in the financial statements can arise from either fraud or error. The distinguishing factor between fraud and error is whether the underlying action that results in the misstatement of the financial statements is intentional or unintentional. Although fraud is a broad legal concept, for purposes of the CASs, the auditor is concerned with fraud that causes a material misstatement in the financial statements. Two types of intentional misstatements are relevant to the auditor — misstatements resulting from fraudulent financial reporting and misstatements resulting from misappropriation of assets. Effective for audits of financial statements for periods ending on or after December 14, 2010, except for subsequent amendments. The amended paragraph 19 of CAS 240 is effective for periods ending on or after December 15, 2013.
CAS 250, Consideration of Laws and Regulations in an Audit of Financial Statements This Canadian Auditing Standard (CAS) deals with the auditor's responsibility to consider laws and regulations in an audit of financial statements. This CAS does not apply to other assurance engagements in which the auditor is specifically engaged to test and report separately on com-pliance with specific laws or regulations. Effective for audits of financial statements for periods ending on or after December 14, 2010
CAS 260, Communication with Those Charged with Governance CAS 260, "Communication with Those Charged with Governance", deals with the auditor's responsibility to communicate with those charged with governance in an audit of financial statements. Although CAS 260 applies irrespective of an entity's governance structure or size, particular considerations apply where all of those charged with governance are involved in managing an entity, and for listed entities. This CAS does not establish requirements regarding the auditor's communication with an entity's management or owners unless they are also charged with a governance role. The revised CAS 260 is effective for audits of financial statements for periods ending on or after December 15, 2018. Earlier application is permitted.
CAS 265, Communicating Deficiencies in Internal Control to Those Charged with Governance and Management This Canadian Auditing Standard (CAS) deals with the auditor's responsibility to communicate appropriately to those charged with governance and management deficiencies in internal control that the auditor has identified in an audit of financial statements. Effective for audits of financial statements for periods ending on or after December 14, 2010.
CAS 300, Planning an Audit of Financial Statements This Canadian Auditing Standard deals with the auditor's responsibility to plan an audit of financial statements. This CAS is written in the context of recurring audits. Additional considerations in an initial audit engagement are separately identified within the CAS. Effective for audits of financial statements for periods ending on or after December 14, 2010.
CAS 315, Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment CAS 315 deals with the auditor's responsibility to identify and assess the risks of material misstatement in the financial statements, through understanding the entity and its environment, including the entity's internal control. Effective for audits of financial statements for periods ending on or after December 15, 2013 except for subsequent amendments. Amended paragraphs 18 and 26 are effective for audits of financial statements for periods ending on or after December 15, 2018. Earlier application is permitted.
CAS 320, Materiality in Planning and Performing an Audit This Canadian Auditing Standard (CAS) deals with the auditor's responsibility to apply the concept of materiality in planning and performing an audit of financial statements. CAS 450 Evaluation of Misstatements Identified during the Audit, explains how materiality is applied in evaluating the effect of identified misstatements on the audit and of uncorrected misstatements, if any, on the financial statements. Effective for audits of financial statements for periods ending on or after December 14, 2010.
CAS 330, The Auditor’s Responses to Assessed Risks CAS 330, "The Auditor’s Responses to Assessed Risks", deals with the auditor's responsibility to design and implement responses to the risks of material misstatement identified and assessed by the auditor in accordance with CAS 315 (Revised), "Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment", in an audit of financial statements. Effective for audits of financial statements for periods ending on or after December 14, 2010 except for subsequent amendments. Amended paragraphs 20, 24 and 30 are effective for audits of financial statements for periods ending on or after December 15, 2018. Earlier application is permitted.
CAS 402, Audit Considerations Relating to an Entity using a Service Organization This Canadian Auditing Standard (CAS) deals with the user auditor's responsibility to obtain sufficient appropriate audit evidence when a user entity uses the services of one or more service organizations. Specifically, it expands on how the user auditor applies CAS 315, Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment, and CAS 330, The Auditor’s Responses to Assessed Risks, in obtaining an understanding of the user entity, including internal control relevant to the audit, sufficient to identify and assess the risks of material misstatement and in designing and performing further audit procedures responsive to those risks. Effective for audits of financial statements for periods ending on or after December 14, 2010.
CAS 450, Evaluation of Misstatements Identified during the Audit This Canadian Auditing Standard (CAS) deals with the auditor's responsibility to evaluate the effect of identified misstatements on the audit and of uncorrected misstatements, if any, on the financial statements. Effective for audits of financial statements for periods ending on or after December 14, 2010.

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