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Section PS 6420, Knowledge of the Audit Entity in Planning Value-for-money Audits in the Public Sector [Superceded] This Section provides further guidance on obtaining the knowledge of the audit entity and its environment necessary to plan a value-for-money audit, but is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. This section withdrawn on issue of AuG-50, which is effective from its date of issue on August 1, 2020
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. CSQM 1 and CSQM 2 are effective for audits and reviews of financial statements for periods beginning on or after December 15, 2022 and for related services engagements beginning on or after on December 15, 2023.
CSQM 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements CSQM 1 replaces Canadian Standard on Quality Control (CSQC) 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance Engagements Effective for audits and reviews of financial statements for periods beginning on or after December 15, 2022 and for related services engagements beginning on or after on December 15, 2023.
CSQM 2, Engagement Quality Reviews CSQM 2 replaces material previously addressed in Canadian Standard on Quality Control (CSQC) 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance Engagements Effective for audits and reviews of financial statements for periods beginning on or after December 15, 2022 and for related services engagements beginning on or after on December 15, 2023.
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 December 14, 2017. The changes are effective on July 15, 2020. The changes are effective for periods beginning on or after December 15, 2022.
CSAE 3000, Attestation Engagements Other than Audits or Reviews of Historical Financial Information CSAE 3000 deals with attestation 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. Effective June 30, 2017. The changes are effective on July 15, 2020. The changes are effective for periods beginning on or after December 15, 2022.
CSAE 3001, Direct Engagements CSAE 3001 sets out the requirements related to planning, performing and reporting on direct engagements. Effective for direct engagements where the assurance report is dated on or after June 30, 2017. The changes are effective for periods beginning on or after December 15, 2022.
CSAE 3416, Reporting on Controls at a Service Organization This Canadian Standard on Assurance Engagements (CSAE) addresses audit engagements undertaken by a service auditor to report on controls at organizations that provide services to user entities when those controls are likely to be relevant to user entities' internal control over financial reporting. It complements CAS 402, Audit Considerations relating to an Entity using a Service Organization, in that reports prepared in accordance with this CSAE may provide appropriate evidence under CAS 402. Ef­fec­tive for service auditors' reports for periods ending on or after December 15, 2011 with earlier implementation permitted, except for subsequent amendments. Amend­ments to paragraphs 7A, 44, 52 and 53 as a result of the issue of CSAE 3000 are effective for attestation engagements where the assurance report is dated on or after June 30, 2017. The changes are effective for periods beginning on or after December 15, 2022.
CSRS 4200, Compilation Engagements CSRS 4200, Compilation Engagements, sets out the requirements for: engagement acceptance and continuance; performing the engagement; facts that become known after the compiled financial information has been issued; the compilation engagement report; and documentation. CSRS 4200 is effective for compiled financial information for periods ending on or after December 14, 2021. The change is effective for periods beginning on or after December 15, 2023.
CSRS 4460, Reports on Supplementary Matters Arising from an Audit or Review Engagement CSRS 4460 sets out the requirements related to the acceptance of the engagement, including circumstances when acceptance is prohibited, the performance of the engagement and the report, including its content. Effective for reports dated on or after April 1, 2016. The change is effective for engagements beginning on or after December 15, 2022

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