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
CAS 810, Engagements to Report on Summary Financial Statements CAS 810, "Engagements to Report on Summary Financial Statements", deals with the auditor's responsibilities relating to an engagement to report on summary financial statements derived from financial statements audited in accordance with CASs by that same auditor. For this purpose, CAS 810 defines summary financial statements as “Historical financial information that is derived from financial statements but that contains less detail than the financial statements, while still providing a structured representation consistent with that provided by the financial statements of the entity's economic resources or obligations at a point in time or the changes therein for a period of time. Different jurisdictions may use different terminology to describe such historical financial information.” The revised CAS 810 is effective for audits of financial statements for periods ending on or after December 15, 2018. Earlier application is permitted.
Section 5020, Association Association is a term generally used within the profession to indicate a public accountant's involvement with an enterprise or with information issued by that enterprise. Association can arise in three ways: (i) when a public accountant associates himself or herself by some action on his or her part with information issued by an enterprise; (ii) when an enterprise or some other party has indicated (either in writing or orally) without the public accountant's knowledge or consent that the public accountant was involved with information issued by an enterprise; (iii) when a third party assumes that a public accountant is involved with information issued by an enterprise. A public accountant has no control over third party assumptions about his or her involvement with information or how others represent his or her involvement with information. A public accountant can, however, control how he or she associates himself or herself with information. The purpose of Section 5020 is to describe how a public accountant associates himself or herself with information, the professional responsibilities that stem from such association and the procedures that a public accountant can take to limit the inappropriate use of his or her name. The phrase "use of his or her name" includes a reference to the public accountant by virtue of role (auditor, reviewer, etc.) as well as to the use of the public accountant's name. Applies to documents issued on or after December 14, 2010.
Section 5800, Special Reports — Introduction [Superseded] Section 5800 and Section 5815, "Auditor’s Reports on Compliance with Agreements, Statutes and Regulations", do not deal with reports on financial statements. They are applicable when expressing an audit opinion on compliance with agreements, statutes and regulations. Applies to reports issued on or after August 1, 1979
Section 5815, Auditor’s Reports on Compliance with Agreements, Statutes and Regulations [Superseded] Section 5815 provides guidance to an auditor engaged to provide an audit opinion as to a client's compliance with criteria established by provisions of agreements, statutes or regulations. Applies to reports issued on or after January 1, 1992, except for subsequent amendments.
Section 5925, An Audit of Internal Control over Financial Reporting that is Integrated with an Audit of Financial Statements This Section establishes standards and provides guidance regarding the auditor's professional responsibilities when engaged to perform an audit of the effectiveness of internal control over financial reporting ("the audit of internal control over financial reporting") that is integrated with an audit of the financial statements. Effective for audits of internal control over financial reporting that are integrated with audits of financial statements for periods beginning on or after January 1, 2008 except for subsequent amendment. The change is effective for periods beginning on or after December 15, 2022
Section 7060, Auditor Review of Interim Financial Statements Section 7060 sets out requirements related to the terms of engagement, the consideration of materiality, the auditor's inquiries and responses to matters identified, the expression of a conclusion on the interim financial statements and the documentation. Effective for reviews of interim financial statements for interim periods of fiscal years beginning on or after December 15, 2014. The change is effective for reviews of interim financial statements for interim periods of fiscal years beginning on or after December 15, 2022
Section 7150, Auditor’s Consent to the Use of a Report of the Auditor Included in an Offering Document Section 7150 deals with an auditor's responsibilities in responding to requests to consent to the use of a report of the auditor included in an offering document. The amendments to paragraph 21A are effective for annual periods beginning on or after January 1, 2016. Early application is permitted. The change is effective for an auditor's consent to the use of a report of the auditor in an offering document for periods beginning on or after December 15, 2022.
Section 7170, Auditor's Consent to the Use of the Auditor's Report in Connection with a Designated Document Section 7170 sets out the requirements relating to the auditor's responsibilities in responding to requests to consent to the use of the auditor's report on the audited financial statements of the acquired business that are to be included in a business acquisition report issued by the acquirer, the format and content of the auditor's consent. Effective for an auditor’s consent to the use of an auditor’s report in a business acquisition report issued on or after June 1, 2017. The amendments to Section 7170 are effective for an auditor’s consent issued on or after June 1, 2019. The change effective for an auditor's consent to the use of a report of the auditor in connection with a designated document for periods beginning on or after December 15, 2022.
Section 7200, Auditor Assistance to Underwriters and Others This Section provides guidance to an auditor who has been requested to issue a comfort letter or participate in a due diligence meeting relating to a securities offering The Recommendations in this Section, with the exception of paragraphs .078, .087 and .118, apply to comfort letters to underwriters and others dated on or after the first of the month noted beside each Recommendation and to due diligence meetings held on or after the first of the month noted beside each Recommendation. The Recommendations in paragraphs .078, .087 and .118 apply to comfort letters to underwriters and others dated on or after June 30, 2017. The change is effective for engagements to provide assistance to underwriters and others beginning on or after December 15, 2022.
Section 7500, Auditor's Consent to the Use of the Auditor's Report in Connection with Designated Documents [Superseded] Section 7500 deals with the auditor's responsibilities, after the completion of the audit of the entity's financial statements, when the auditor agrees to consent to the use of the auditor's report in connection with a designated document. Section 7500 withdrawn when Section 7170 was issued. Section 7170 is effective for an auditor's consent issued on or after June 1, 2019.
Section 7600, Reports on the Application of Accounting Principles Section 7600 helps to ensure that reporting and incumbent accountants have access to the same information when management consults with accountants other than the incumbent accountant on the application of accounting principles to those transactions and products on which the incumbent accountant has already provided guidance. Applies to reports dated on or after May 1, 2004. The change is effective for engagements beginning on or after December 15, 2022
Section 8600, Reviews of Compliance with Agreements and Regulations [Superseded] Section 8600 provides guidance in addition to that set out in Section 8100, General Review Standards, when a review engagement is undertaken to report on an enterprise's compliance with conditions established by provisions of an agreement or regulation. Applies to review engagement reports issued on or after January 1, 1989, except for subsequent amendments.
Section 9100, Reports on the Results of Applying Specified Auditing Procedures to Financial Information Other than Financial Statements [Superseded] Section 9100 provides guidance to a public accountant engaged to report on the results of applying specified auditing procedures to financial information other than financial statements when such procedures are not intended to enable the accountant to express an audit opinion or provide negative assurance on the financial information. Section 9100 is withdrawn. CSRS 4400 is effective for agreed-upon procedures engagements for which the terms of engagement are agreed on or after January 1, 2022.
Section 9200, Compilation Engagements [Superseded] Section 9200 deals with services provided by public accountants for those who require assistance in compiling financial statements from information they have, but who do not require that the public accountant provide any assurance regarding such statements. CSRS 4200 will be effective for compiled financial information for periods ending on or after December 14, 2021.
AuG-6, Examination of a Financial Forecast or Projection Included in a Prospectus or Other Public Offering Document AuG-6, "Examination of a Financial Forecast or Projection Included in a Prospectus or Other Public Offering Document", provides guidance for the public accountant who is asked to undertake an examination of a financial forecast or projection included in a prospectus or other public offering document filed with securities regulatory authorities. Effective on the first day of the month of its issue i.e., September 1, 1989. The changes are effective for engagements beginning on or after December 15, 2022.
AuG-16, Compilation of a Financial Forecast or Projection AuG-16, "Compilation of a Financial Forecast or Projection", deals with services provided by public accountants for those who require assistance in compiling a financial forecast or projection, but who do not require that the public accountant provide assurance concerning such future-oriented financial information. Effective on the first day of the month of its issue i.e., February 1, 1993
Section PS 5000, Introduction to Assurance Recommendations that Apply only to the Public Sector [Superseded] This Section describes some of the special circumstances that may apply to the audits of public sector entities undertaken by legislative and other external auditors. This section withdrawn on issue of AuG-50, which is effective from its date of issue on August 1, 2020
Section PS 5300, Auditing for Compliance with Legislative and Related Authorities in the Public Sector [Superceded] This Section makes Recommendations and provides guidance for auditors who, depending upon their audit mandates, are engaged or required to: (a) express an opinion on whether an entity complied with specified authorities or whether its transactions were carried out in compliance with specified authorities; (b) express an opinion on whether the transactions that have come to their notice in the course of discharging their other audit responsibilities were carried out in compliance with specified authorities; and (c) report instances of non-compliance with authorities observed in the course of discharging their audit responsibilities. Section PS 5300 withdrawn on issue of AuG-49, which is effective for reports dated on or after April 1, 2019, with early adoption permitted.
Section PS 5400, Value-for-money Auditing in the Public Sector [Superseded] This Section recommends standards for auditors engaged in value-for-money auditing that relate to the professional qualities of the auditor, the conduct of his or her audit and the content of his or her audit report. Effective for value-for-money reports dated on or after April 1, 1999 except for subsequent amendments
Section PS 6410, Planning Value-for-money Audits in the Public Sector [Superceded] This Section discusses planning considerations related to the following elements of audit planning: (i) the audit mandate, (ii) knowledge of the entity, (iii) audit objectives and scope, (iv) criteria, (v) audit evidence and (vi) the audit plan. This section withdrawn on issue of AuG-50, which is effective from its date of issue on August 1, 2020

Correction list for hyphenation

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