Farewell to the One Page Auditor’s Report!

Overview In April 2017, certain new and amended Canadian Auditing Standards (CAS) were approved by the Auditing and Assurance Standards Board (AASB). One of the significant revisions pertains to changes in the content of the Independent Auditor’s Report, mainly as a result of the revised CAS 700 Forming an Opinion and Reporting on Financial Statements and the new CAS 701 Communicating Key Audit Matters in the Independent Auditor’s Report. In Canada, these new auditor reporting standards are effective for audits of financial statements for periods ending on or after December 15, 2018. For example, if the reporting entity’s fiscal period ends on December 31, 2018, then the entity must comply with these new standards. With the introduction of the new […]

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