CAS 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Canadian Auditing Standards

Ef­fec­tive date:

Effective for audits of financial statements for periods ending on or after December 14, 2010, except for subsequent amendments.




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.

The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. This is achieved by the expression of an opinion by the auditor on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework. An audit conducted in accordance with CASs and relevant ethical requirements enables the auditor to form that opinion.

The financial statements subject to audit are those of the entity, prepared by management of the entity with oversight from those charged with governance. The audit of the financial statements does not relieve management or those charged with governance of their responsibilities.

His­tory of CAS 200




September 2012

Paragraph C20A added to clarify the authority of Assurance and Related Services Guidelines relevant to the engagement.          

Paragraph C20A is effective for audits of financial statements for periods ending on or after September 1, 2012.

Note: The above sum­mary does not in­clude de­tails of con­se­quen­tial amend­ments made as the re­sult of other pro­jects.

Amendments under consideration

  • None

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