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