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Assurance | Deloitte CFR

You can find more about assurance standards that are of interest to financial statement users by selecting the standard you are interested in from the following table or from the left navigation. The following is a list of selected standards that would be of interest to preparers and users of financial statements.

Title Description Effective Date
Section 7150, Auditor’s Consent to the Use of a Report of the Auditor Included in an Offering Document Section 7150 deals with an auditor's responsibilities in responding to requests to consent to the use of a report of the auditor included in an offering document. The amendments to paragraph 21A are effective for annual periods beginning on or after January 1, 2016. Early application is permitted.
Section 7170, Auditor's Consent to the Use of the Auditor's Report in Connection with a Designated Document Section 7170 sets out the requirements relating to the auditor's responsibilities in responding to requests to consent to the use of the auditor's report on the audited financial statements of the acquired business that are to be included in a business acquisition report issued by the acquirer, the format and content of the auditor's consent. Effective for an auditor’s consent to the use of an auditor’s report in a business acquisition report issued on or after June 1, 2017. The amendments to Section 7170 are effective for an auditor’s consent issued on or after June 1, 2019.
Section 7200, Auditor Assistance to Underwriters and Others This Section provides guidance to an auditor who has been requested to issue a comfort letter or participate in a due diligence meeting relating to a securities offering The Recommendations in this Section, with the exception of paragraphs .078, .087 and .118, apply to comfort letters to underwriters and others dated on or after the first of the month noted beside each Recommendation and to due diligence meetings held on or after the first of the month noted beside each Recommendation. The Recommendations in paragraphs .078, .087 and .118 apply to comfort letters to underwriters and others dated on or after June 30, 2017
Section 7500, Auditor's Consent to the Use of the Auditor's Report in Connection with Designated Documents [Superseded] Section 7500 deals with the auditor's responsibilities, after the completion of the audit of the entity's financial statements, when the auditor agrees to consent to the use of the auditor's report in connection with a designated document. Section 7500 withdrawn when Section 7170 was issued. Section 7170 is effective for an auditor's consent issued on or after June 1, 2019.
Section 7600, Reports on the Application of Accounting Principles Section 7600 helps to ensure that reporting and incumbent accountants have access to the same information when management consults with accountants other than the incumbent accountant on the application of accounting principles to those transactions and products on which the incumbent accountant has already provided guidance. Applies to reports dated on or after May 1, 2004
Section 8100, General Review Standards Section 8100 deals with reviews by public accountants of annual and interim financial statements and other information, except when the auditor of an entity reviews its unaudited interim financial statements in the circumstances described in Section 7060, "Auditor Review of Interim Financial Statements". The Recommendations in this Section apply to review engagement reports issued on or after January 1, 1989, except that the Recommendation in paragraph 8100.26 applies to reports issued on or after October 1, 2003.
Section 8200, Public Accountant’s Review of Financial Statements Section 8200 provides guidance in addition to that set out in Section 8100, "General Review Standards", when a review engagement is undertaken to report on interim or annual financial statements. Section 8200 does not apply to engagements in which the public accountant compiles, but does not review, unaudited financial statements or future-oriented financial statements. The Recommendations in paragraphs 8200.60, 8200.63, 8200.66 and 8200.68 apply to review engagement reports issued on or after October 1, 2003. The Recommendation in paragraph 8200.24a is effective for documents containing financial statements for periods ending on or after December 14, 2010. This standard is being replaced by CSRE 2400. CSRE 2400 will be effective for reviews of financial statements for periods ending on or after December 14, 2017 and will be reflected in an April 2016 Handbook update. Early adoption of CSRE 2400 will not be permitted.
Section 8500, Reviews of Financial Information Other than Financial Statements Section 8500 provides guidance in addition to that set out in Section 8100, General Review Standards, when a review engagement is undertaken to report on financial information other than financial statements. Applies to review engagement reports issued on or after January 1, 1989.
Section 8600, Reviews of Compliance with Agreements and Regulations [Superseded] Section 8600 provides guidance in addition to that set out in Section 8100, General Review Standards, when a review engagement is undertaken to report on an enterprise's compliance with conditions established by provisions of an agreement or regulation. Applies to review engagement reports issued on or after January 1, 1989, except for subsequent amendments.
Section 9100, Reports on the Results of Applying Specified Auditing Procedures to Financial Information Other than Financial Statements Section 9100 provides guidance to a public accountant engaged to report on the results of applying specified auditing procedures to financial information other than financial statements when such procedures are not intended to enable the accountant to express an audit opinion or provide negative assurance on the financial information. Applies to reports dated on or after January 1, 1992
Section 9200, Compilation Engagements Section 9200 deals with services provided by public accountants for those who require assistance in compiling financial statements from information they have, but who do not require that the public accountant provide any assurance regarding such statements. Applies to Notice to Reader communications issued on or after January 1, 1988, except that the Recommendation in paragraph 9200.25 applies to Notice to Reader communications dated on or after July 1, 2007.
AuG-6, Examination of a Financial Forecast or Projection Included in a Prospectus or Other Public Offering Document AuG-6, "Examination of a Financial Forecast or Projection Included in a Prospectus or Other Public Offering Document", provides guidance for the public accountant who is asked to undertake an examination of a financial forecast or projection included in a prospectus or other public offering document filed with securities regulatory authorities. Effective on the first day of the month of its issue i.e., September 1, 1989
AuG-16, Compilation of a Financial Forecast or Projection AuG-16, "Compilation of a Financial Forecast or Projection", deals with services provided by public accountants for those who require assistance in compiling a financial forecast or projection, but who do not require that the public accountant provide assurance concerning such future-oriented financial information. Effective on the first day of the month of its issue i.e., February 1, 1993
Section PS 5000, Introduction to Assurance Recommendations that Apply only to the Public Sector This Section describes some of the special circumstances that may apply to the audits of public sector entities undertaken by legislative and other external auditors. Effective October 1, 1998
Section PS 5300, Auditing for Compliance with Legislative and Related Authorities in the Public Sector This Section makes Recommendations and provides guidance for auditors who, depending upon their audit mandates, are engaged or required to: (a) express an opinion on whether an entity complied with specified authorities or whether its transactions were carried out in compliance with specified authorities; (b) express an opinion on whether the transactions that have come to their notice in the course of discharging their other audit responsibilities were carried out in compliance with specified authorities; and (c) report instances of non-compliance with authorities observed in the course of discharging their audit responsibilities. Effective for compliance reports dated on or after the first month noted beside each Recommendation, with the exception of paragraph PS 5300.13 which is effective for compliance reports dated on or after June 30, 2017
Section PS 5400, Value-for-money Auditing in the Public Sector This Section recommends standards for auditors engaged in value-for-money auditing that relate to the professional qualities of the auditor, the conduct of his or her audit and the content of his or her audit report. Effective for value-for-money reports dated on or after April 1, 1999 except for subsequent amendments
Section PS 6410, Planning Value-for-money Audits in the Public Sector This Section discusses planning considerations related to the following elements of audit planning: (i) the audit mandate, (ii) knowledge of the entity, (iii) audit objectives and scope, (iv) criteria, (v) audit evidence and (vi) the audit plan. Not specified
Section PS 6420, Knowledge of the Audit Entity in Planning Value-for-money Audits in the Public Sector This Section provides further guidance on obtaining the knowledge of the audit entity and its environment necessary to plan a value-for-money audit, but is not intended to serve as a checklist or program for obtaining knowledge of the audit entity. Not specified
CSQC 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance Engagements This Canadian Standard on Quality Control (CSQC) deals with a firm's responsibilities for its system of quality control for audits and reviews of financial statements, and other assurance engagements. This CSQC is to be read in conjunction with relevant ethical requirements. Systems of quality control in compliance with this CSQC are required to be established by December 15, 2009. CSQC 1 is effective from that date, except for subsequent amendments. The revised requirements are effective for assurance engagements the subject matter of which covers periods ending on or after December 14, 2010.
CSRE 2400, Engagements to Review Historical Financial Statements This standard replaces the following existing review engagement standards for financial statements and other historical financial information: Section 8200, Public Accountant’s Review of Financial Statements, Section 8500, Reviews of Financial Information other than Financial Statements, AuG-20, Performance of a Review of Financial Statements in Accordance with Sections 8100 and 8200, and AuG-47, Dating the Review Engagement Report on Financial Statements. Effective for reviews of financial statements for periods ending on or after December 14, 2017. Early adoption of CSRE 2400 is not permitted.

Correction list for hyphenation

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