CAS 500, Audit Evidence

Ef­fec­tive date:

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


This Cana­dian Au­dit­ing Stan­dard (CAS) explains what constitutes audit evidence in an audit of financial statements, and deals with the auditor's responsibility to design and perform audit procedures to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions on which to base the auditor's opinion.

This CAS is applicable to all the audit evidence obtained during the course of the audit. Other CASs deal with specific aspects of the audit (for example, CAS 315), the audit evidence to be obtained in relation to a particular topic (for example, CAS 570 ), specific procedures to obtain audit evidence (for example, CAS 520, Analytical Procedures), and the evaluation of whether sufficient appropriate audit evidence has been obtained (CAS 200 and CAS 330).

History of CAS 500




March 2023

A revised Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors (“JPS”), was issued as an appendix to Canadian Auditing Standard (CAS) 500. See Completed Project

The revised JPS is effective for communications between the auditor and the actuary initiated on or after March 31, 2023. Early application is permitted.

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

Amendments under consideration

Correction list for hyphenation

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