Reporting revolution! Significant changes to the auditor’s report are getting closer.

The AASB plans international standards for auditor reporting in 2017.

The Auditing and Assurance Standards Board (AASB)’s recent developments are bringing closer the reality of significant changes to the auditor’s report (form and content).

Eric Turner, CPA, CA (Director, Auditing and Assurance Standards, CPA Canada) goes on to say that “The recently issued AASB’s chair’s message says it all: Canada intends to move forward with adopting the international standards and now’s the time for stakeholders in financial reporting to bring up any concerns and challenges they foresee around implementation and timelines.”

The AASB has carefully examined the changes the International Auditing and Assurance Standards Board (IAASB) made and believes that Canadian’s concerns have been substantively addressed.

Read more from the CPA’s Audit Quality Blog:

https://www.cpacanada.ca/en/connecting-and-news/blogs/audit-quality-blog/2015/May/reporting-revolution-auditor-report-changes?utm_source=May7_Audit_EBlast&utm_medium=Email&utm_campaign=Reporting_revolution_auditblog_ENG

The AASB has invited comments to be provided by October 30, 2015.
What are your comments to the AASB?
Do you have any thoughts that you would like to share with our members?