AASB Consultations : Compilation Engagements and Agreed-Upon Procedures
NOTES & NEWS
AASB Consultations : Compilation Engagements and Agreed-Upon Procedures
The Auditing and Assurance Standards Board ’ s ( AASB ) Compilation Engagements Task Force ( CETF ) held a roundtable consultation in Vancouver on December 9 to seek comments regarding its preliminary thoughts on updating the current compilation engagements standard in the CPA Canada Handbook ( Assurance Section 9200 – Compilation Engagements ). The CETF was formed to consider a number of public interest issues with regard to the practice of compilation engagements . The feedback gathered from the 30 members who attended the roundtable session will be used to inform the AASB as it determines the way forward . The AASB held a second consultation session in Vancouver on December 9 — this one on “ Agreed-Upon Procedures Regarding Financial Information .” The Agreed-Upon Procedures Working Group ( AUP-WG ) of the International Auditing and Assurance Standards Board issued a discussion paper entitled “ Exploring the Demand for Agreed-Upon Procedures Engagements and Other Services , and the Implications for the IAASB ’ s International Standards ” in November 2016 , and the AASB subsequently issued a Canadian Invitation to Comment to solicit the input of Canadian stakeholders . Input gathered at the AUP-WG roundtable consultation will be used to help the AASB determine whether a project to revise CPA Canada Handbook Section 9100 ( Reports on the Results of Applying Specified Auditing Procedures to Financial Information Other than Financial Statements ) should be undertaken in the near term .
If you ’ d like to receive a copy of the CETF consultation paper or AUP-WG discussion paper , contact David Chiang , CPA , CA , CPABC ’ s VP of member services , at dchiang @ bccpa . ca or visit the Financial Reporting & Assurance Standards Canada website at frascanada . ca . To attend future consultation sessions , please check for upcoming events in the News & Views Knowledge Base at bccpa . ca / news-views-kb . Or join one of our many member forums , which are described on the bccpa . ca website under Members > Member Forums .
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22 CPABC in Focus • Jan / Feb 2017