Standards for Assurance Engagements Task Force

Learn how practitioners on this task force are supporting the AASB in revising umbrella assurance standards.

The Auditing and Assurance Standards Board (AASB) created this task force in 2009 to provide expertise in helping to revise what are called “umbrella” assurance standards. These standards apply to all assurance engagements other than audits or reviews of historical financial information.

The task force:

  • monitored and provided timely input to the AASB regarding the International Auditing and Assurance Standards Board (IAASB)’s progress on its project to update the umbrella International Standard for Assurance Engagements (ISAE) 3000
  • identified changes to the ISAE that would be necessary to meet needs particular to the Canadian environment
  • obtained significant input from the Canadian Council of Legislative Auditors (CCOLA) whose members conduct many performance audits, which are a key type of assurance engagement called direct engagements

This task force was composed of seven members, five of whom were highly experienced in audits in the public sector and two of whom were senior practitioners from major public accounting firms.

After five years of meetings and discussions, an exposure draft of proposed Canadian Standard on Assurance Engagements (CSAE) 3000 Attestation Engagements Other than Audits or Reviews of Historical Financial Information and CSAE 3001 Direct Engagements was issued (summer 2014). The AASB approved the final CSAE 3000 and CSAE 3001 at its March 2015 meeting. These CSAE will be published in the CPA Canada Handbook – Assurance in summer 2015.

This project was quite complex and took a significant amount of time. The AASB very much appreciates the dedication shown by the task force members in seeing this project through to a successful conclusion and to their respective organizations for supporting their work as volunteers to further the progress of assurance standards.