CSAE 3001, Direct Engagements
|
Effective date: |
Effective for direct engagements where the assurance report is dated on or after June 30, 2017. For engagements before this effective date, practitioners may continue to refer to the standards replaced by this section which are detailed below under the History of Section 3001. |
Overview
A direct engagement is an assurance engagement in which the practitioner evaluates the underlying subject matter against applicable criteria and aims to obtain sufficient appropriate evidence to express, in a written direct assurance report, a conclusion to intended users other than the responsible party, about the outcome of that evaluation.
Canadian Standard On Assurance Engagements (CSAE) 3001 sets out the requirements related to planning, performing and reporting on direct engagements.
CSAE 3000, Attestation Engagements Other than Audits or Reviews of Historical Financial Information, which was issued at the same time as CSAE 3001, deals with similar engagements that are attestation engagements. Differences in wording between CSAE 3000 and CSAE 3001 relate only to differences between the performance of an attestation engagement and the performance of a direct engagement.
History of CSAE 3001
|
Date |
Development |
Comments |
|
July 2015 |
Issued to the CPA Canada Handbook – Assurance, together with CSAE 3000, replacing:(i) Section 5025, Standards for Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information; (ii) Section 5030, Quality Control Procedures for Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information; (iii) Section 5049, Use of Specialists in Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information; and (iv) Section 5050, Using the Work of Internal Audit in Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information. |
Effective for direct engagements where the assurance report is dated on or after June 30, 2017. See Completed Project. |
|
May 2022 |
Relates to conforming amendments to Other Canadian Standards resulting from the approval of CSQM 1. Paragraphs 23-25, 35-40 and 73 have been amended. See Completed Project. |
The changes are effective for periods beginning on or after December 15, 2022. |
Note: The above summary does not include details of consequential amendments made as the result of other projects.
Amendments under consideration
- None
