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CAS 210, Agreeing the Terms of Audit Engagements

Ef­fec­tive date:

Effective for audits of financial statements for periods ending on or after December 14, 2010

[Canadian Auditing Standard (CAS) 210, Agreeing the Terms of Audit Engagements, should be read in conjunction with CAS 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Canadian Auditing Standards.]

Overview

This Canadian Auditing Standard (CAS) deals with the auditor's responsibilities in agreeing the terms of the audit engagement with management and, where appropriate, those charged with governance.

The objective of the auditor is to accept or continue an audit engagement only when the basis upon which it is to be performed has been agreed, through: (a) establishing whether the preconditions for an audit are present; and (b) confirming that there is a common understanding between the auditor and management and, where appropriate, those charged with governance of the terms of the audit engagement. With respect to (a), preconditions for an audit involve the use by management of an acceptable financial reporting framework in the preparation of the financial statements and the agreement of management and, where appropriate, those charged with governance to the premise on which an audit is conducted.

His­tory of CAS 210

There have been no amend­ments to CAS 210 since its date of is­sue.

Note: Our his­tory sum­mary does not take into ac­count con­se­quen­tial amend­ments made as the re­sult of other pro­jects.

Amend­ments un­der con­sid­er­a­tion

  • None

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.