AUDITING AND
ASSURANCE
STANDARDS BOARD
ANNUAL REPORT 2013-2014
TABLE OF CONTENTS
Overview1
Message from the Chair
2
Report on Performance
5
Appendix 1
Status of Ongoing Standards Projects
8
Appendix 2
Use of the AASB’s Resources
11
Memberships13
ii
AASB ANNUAL REPORT 2013-2014
Acronyms Used in this Report
AASB
Auditing and Assurance Standards Board
AASOC
Auditing and Assurance Standards Oversight Council
CAS
Canadian Auditing Standard
CPA
Chartered Professional Accountant
CPAB
Canadian Public Accountability Board
CSAE
Canadian Standard on Assurance Engagements
CSRE
Canadian Standard on Review Engagements
CSRS
Canadian Standard on Related Services
IAASB
International Auditing and Assurance Standards Board
ISA
International Standard on Auditing
ISAE
International Standard on Assurance Engagements
ISRE
International Standard on Review Engagements
PCAOB
Public Company Accounting Oversight Board
AASB ANNUAL REPORT 2013-2014
iii
OVERVIEW
This report discusses the activities and achievements of the Auditing and Assurance Standards
Board (AASB) for its operating year ended March 31, 2014. The performance indicators presented on
the following pages provide an overview of the AASB’s accomplishments in 2013-2014 and how it is
progressing in relation to its long-term goals and objectives.
The AASB receives its terms of reference from the Auditing and Assurance Standards Oversight
Council (AASOC). AASOC also appoints members to the AASB and publishes its own public report
annually in the fall. The AASB’s strategic plan sets out indicators for assessing the success of its work
during the year in meeting its goals and objectives.
Mission and Vision of the AASB
The AASB’s mission is to serve the public interest by setting high-quality standards and guidance that
enable the public accounting profession to provide effective auditing, other assurance and related
services.
The AASB’s vision statement is to ensure that Canada continues its strong capability for setting highquality standards for auditing, other assurance and related services that decision-makers value.
Auditing and other assurance and related services standards are only one of a number of factors that
affect the quality of service a practitioner provides. Other factors include:
• professional development and training;
• personal experience and competence;
• an accounting firm’s quality control procedures;
• effectiveness of practice inspections; and
• an environment where there is support from, and appropriate interactions among, practitioners
and other participants in the financial reporting supply chain.
Accordingly, achieving the AASB’s mission is subject to contributing factors outside the AASB’s
control. The AASB’s strategic plan focuses on goals and objectives that are within the AASB’s control
and contribute to achieving its mission.
The AASB has identified two long-term goals that it believes are critical to achieving its mission:
• set high-quality standards and guidance that meet the needs of Canadian stakeholders; and
• maintain a strong Canadian standard-setting capability to respond to the needs of Canadian
stakeholders for standards.
AASB ANNUAL REPORT 2013-2014
1
MESSAGE FROM THE CHAIR
I am pleased to present my final communication to you as Chair of the
Auditing and Assurance Standards Board (AASB). It has been an exciting and
stimulating year for the AASB, with a variety of topics being addressed, from
global issues relating to auditor reporting to local issues such as reporting to
third parties on supplementary matters.
Global Developments
Auditor Reporting
Over the past two years, auditor reporting has been the International Auditing
and Assurance Standards Board’s (IAASB) top priority. The IAASB’s goal in
undertaking this project is to enhance the relevance and usefulness of auditors’ reports and auditor
reporting more broadly.
A number of regulators, including the U.S. Public Company Accounting Oversight Board (PCAOB) and
the European Commission, as well as institutional investor groups have called for more meaningful
and transparent information in auditor’s reports.
In June 2013, the IAASB issued its Exposure Draft, “Reporting on Audited Financial Statements:
Proposed New and Revised International Standards on Auditing (ISAs).”
The AASB deliberated the IAASB’s proposals, provided valuable and timely feedback to the IAASB,
and issued its own Exposure Draft proposing no Canadian amendments to the IAASB’s proposals. A
webinar and face-to-face consultations with stakeholders across Canada provided useful input that
was incorporated into the AASB’s formal response to the IAASB.
Audit Quality
Audit quality remains a significant issue globally, as several stakeholders, including governments,
regulators and national standard setters, continue to debate methods to enhance the quality of audits.
The IAASB issued “A Framework for Audit Quality: Key Elements that Create an Environment for
Audit Quality” in February 2014, with the AASB providing feedback that influenced this document’s
development. This Framework is being used to develop practical tools to help improve audit quality.
For example, in Canada, CPA Canada, the Canadian Public Accountability Board (CPAB) and the
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AASB ANNUAL REPORT 2013-2014
Institute of Corporate Directors jointly developed the publication “Oversight of the External Auditor –
Tools for Audit Committees.” The publication refers to the IAASB framework, stating that it provides a
useful foundation for guidance from an audit committee perspective.
On the Home Front
Domestically, it has been a busy year for the AASB. The AASB approved four exposure drafts and
issued new Canadian Standard on Related Services (CSRS) 4460, Reports on Supplementary
Matters Arising from an Audit or a Review Engagement. These reports are sometimes called
“derivative reports”. This standard breaks new ground in Canada, as well as globally, and should result
in more consistently high-quality reports by practitioners on supplementary matters.
Another key project is the revision of the review engagement standards. Many diverse views were
expressed by stakeholders on important issues in response to the AASB’s Exposure Draft on
Canadian Standard on Review Engagements (CSRE) 2400, Engagements to Review Historical
Financial Statements. The AASB continues to carefully consider all the views expressed in order
to come to an appropriate conclusion on the nature and extent of revisions to be made to existing
standards.
The AASB also made considerable progress during the year in its work to revise standards related
to capital markets (the CPA Canada Handbook — Assurance’s 7000 series of Sections). Shortly after
year end, the AASB is expected to approve revisions to Section 7050, Auditor Review of Interim
Financial Statements, and an exposure draft of revisions to Section 7500, Auditor’s Consent to the Use
of the Auditor’s Report in Connection with Designated Documents.
Looking Ahead
Near the end of the year, the AASB decided to defer its self-imposed deadline of March 31, 2016
for having all standards in the CPA Canada Handbook – Assurance drafted in the clarity format and
containing a consistent approach to issues that are common to various types of standards.
This decision was made primarily for two reasons. As noted above, the revisions to the review
engagement standards have proven controversial and the AASB needs to take more time to
appropriately reach consensus on significant issues raised by stakeholders. Also, there are some
issues that are common to review engagement and compilations engagements, so the project to
revise Section 9200, Compilation Engagements, was delayed somewhat, but will start in the fall of
2014. In addition, the AASB decided that there is no urgent need to immediately convert Section 7200,
Auditor Assistance to Underwriters and Others, to the clarity format. That standard deals with matters
particular to auditors’ interaction with underwriters; the AASB is not aware of any significant issues
regarding Section 7200 that need to be addressed in the near term.
The AASB completed the first year of its strategic plan for 2013-2016. During the next year, the AASB
will start looking ahead to developing its 2017-2020 strategic plan. The resulting plan will take changes
in both global and domestic environments into account. The IAASB has already begun consulting on
its future direction and the AASB will provide input on that, based on views expressed by Canadian
stakeholders.
AASB ANNUAL REPORT 2013-2014
3
Final Thoughts
I would like to express my sincere appreciation to my fellow AASB members, as well as Glenn Rioux,
Greg Shields and all of the AASB staff, for their continuing effective and efficient support of the AASB.
My thanks also go to our Canadian stakeholders, who respond to exposure drafts and take the time to
participate in webinars and consultation sessions.
I have very much enjoyed my time on the AASB, including serving as its Chair for the last two years.
The AASB and task force members, all of whom are volunteers, have brought extraordinary energy,
dedication and knowledge to the standard-setting process. Interacting with them to resolve the
myriad of issues faced when setting standards was stimulating and very rewarding for me. I have
every confidence that my successor, Cathy MacGregor, will capably lead the AASB in meeting future
challenges.
I wish the AASB every success in its endeavors.
Mark Davies, CIA, CPA, CA
Chair
4
AASB ANNUAL REPORT 2013-2014
REPORT ON PERFORMANCE
This section outlines the AASB’s objectives and performance indicators set in its Strategic Plan 20132016 and its actual performance against these measures for the year ended March 31, 2014.
Goal A: Set high-quality standards and guidance that meet the needs of Canadian stakeholders
Objective
Performance Indicator
Status for year ended March 31, 2014
Standards for audits of financial
statements and other historical financial
information are based on International
Standards on Auditing (ISAs) issued by
the IAASB with limited amendments.
Follow the AASB’s established due
process for all IAASB ISA projects and
issue a final Canadian Auditing Standard
(CAS) within three months of issuance of
an ISA by the IAASB.
Objective achieved
• The AASB issued its exposure draft on
auditor reporting two months after the
IAASB issued its exposure draft.
• No final ISAs were issued during the
year by the IAASB.
Other standards are responsive to
specifically identified needs of Canadian
stakeholders.
Complete highest priority projects set
out in annual operating plans by planned
completion dates.
Most aspects of the objective were
achieved
• The AASB prepares a project progress
report for each meeting to track the
progress of all projects. The project
progress report identifies and tracks
the progress of 14 Canadian unique
projects, as well as any projects of
the IAASB, the progress of which is
dependent on IAASB timing.
• Of the 14 projects, eight were on
track or slightly behind (one quarter or
less) the targets that were set at the
beginning of the year. Five projects
were on hold or deferred. Only one
project (engagements to report
on compliance with agreements,
statues and regulations) was delayed
significantly, as the AASB identified
additional issues that needed to be
addressed.
The structure of the CPA Canada
Handbook – Assurance promotes
consistency of application of the
standards, reflects how they are used
in practice and supports their future
development.
Establish an operating plan such that the
new structure will be in place by March 31,
2016.
Most aspects of the objective achieved
• The AASB prepares a project progress
report for each meeting to track the
progress of all projects.
• Five projects are currently on hold – one
indefinitely (Section 7200), two due to
staffing constraints (Section 7600 and
future-oriented financial information)
and two pending the conclusion of other
projects (compilation engagements
and performance auditing standards).
The AASB believes that the remaining
projects will be completed or near to
completion by March 31, 2016.
AASB ANNUAL REPORT 2013-2014
5
Goal A: Set high-quality standards and guidance that meet the needs of Canadian stakeholders
Objective
Performance Indicator
Status for year ended March 31, 2014
The AASB assists in the development of
implementation guidance that promotes
the consistent and appropriate application
of standards.
Follow the AASB’s established policy.
Objective achieved
• Performed fatal flaw reviews of an
Auditing and Assurance Bulletin on
the function of a walk-through in
understanding internal control relevant
to the audit and the guide, “Reporting
Implications of new Auditing and
Accounting Standards” (10th, 11th and
12th editions).
Goal B: Maintain a strong Canadian standard-setting capability to respond to the needs of Canadian
stakeholders for standards
Objective
Performance Indicator
Status for year ended March 31, 2014
The AASB’s standard-setting due process
results in standards that are in the public
interest.
Receive AASOC’s confirmation that due
process was followed prior to issuing all
final standards.
Objective achieved
• AASOC confirmed that the AASB
followed due process in issuing the new
CSRS 4460, Reports on Supplementary
Matters Arising from an Audit or a
Review Engagement.
Stakeholders are informed about and have
sufficient opportunity to contribute to the
The website is updated according
standard- setting process.
to agreed process guidelines.
Document response periods – ordinarily
at least 90 days.
6
Objective achieved
• All deadlines for website updates met.
• Document response periods for
Canadian only exposure drafts were as
follows:
–– CSRE 2400 – 167 days
–– CSRS 4460 – 113 days
–– Section 7060 – 76 days (shorter
than 90 days because targeted
consultations with affected
stakeholders were planned)
• Exposure draft response period for
auditor reporting was 32 days in order to
meet IAASB deadlines.
AASB ANNUAL REPORT 2013-2014
Goal B: Maintain a strong Canadian standard-setting capability to respond to the needs of Canadian
stakeholders for standards
Objective
Performance Indicator
Status for year ended March 31, 2014
The AASB maintains Canada’s influence
at the IAASB.
Objective Achieved
Attend annual National Standard Setter
• The AASB Chair and Director, Auditing
meeting; volunteer to participate on one
and Assurance Standards, attended the
IAASB initiative coming out of the meeting.
National Standard Setter meeting
in May 2013.
Place Canadian resources on new IAASB
standards projects that are critical to the
Canadian environment, as measured by
the AASB.
• N/A – There were no new IAASB
projects during the year.
Provide an AASB response to all IAASB
documents for comment.
• Responded to the following IAASB
documents for comment by the
response deadline:
–– Framework for Audit Quality
–– Auditor Reporting
–– IAASB Future Strategy and Work
Program
• The IAASB does not formally rate the
Obtain “above average” assessment
contributions to its efforts made by
rating from the IAASB (for example,
national standards setters such as
Chair, selected members and IAASB
the AASB. However, positive informal
technical staff) annually, as to the AASB’s
feedback was received.
contribution to IAASB’s activities, including
responses to IAASB exposure drafts.
The AASB promotes the understanding
and acceptance of new standards by key
stakeholders.
Follow the AASB’s established
communications plan.
AASB Chair and/or AASB staff meets
at least once a year with each of the
following key stakeholders:
• Canadian Council of Legislative
Auditors;
• Canadian Securities Regulators;
• Canadian Public Accountability Board;
• Provincial institutes of chartered
accountants/ordre of chartered
professional accountants; and
• CPA Canada groups.
Objective achieved
• Communications were issued according
to the AASB’s communications plan.
• Meetings were held as planned
throughout the year with all key
stakeholder groups.
Overall assessment for 2013-2014: The majority of objectives for the year were achieved. Actual
progress made during the year largely met targets set at the start of the year. A few projects were
delayed to enable the AASB to appropriately deal with diverse input obtained from stakeholders. Also,
one project was significantly delayed as complex questions arose regarding the relationship between
umbrella assurance standards and subject-matter-specific standards, which need to be resolved
before proceeding with revising certain standards. With two years before the March 31, 2016 deadline,
the AASB is on track to complete at least 80% of its Handbook clarification and revision initiative. The
AASB continues to make good progress towards achieving its longer term goals.
AASB ANNUAL REPORT 2013-2014
7
APPENDIX 1
STATUS OF ONGOING STANDARDS PROJECTS
Adoption of International Standards on Auditing
Auditor Reporting
Regulators and users of audited financial statements have asked that more information be provided
in auditors’ reports about the auditor’s perspectives regarding significant matters in the financial
statements, as well as about the conduct of the audit.
This is the IAASB’s top priority project. As the AASB is committed to adopting ISAs, the AASB has
also given this project highest priority.
During the year, the IAASB issued its Exposure Draft, “Reporting on Audited Financial Statements:
Proposed New and Revised International Standards on Auditing (ISAs).” The AASB subsequently
issued its own Exposure Draft in September 2013 and held a webinar to inform participants of the
proposals. Registration and participation for this webinar were very high. The AASB also conducted
consultations similar to those held in 2012-13 to obtain additional input from Canadian stakeholders.
The AASB used this input in drafting its response to the IAASB’s Exposure Draft.
The IAASB aims to approve final Auditor Reporting ISAs in the fall of 2014. The AASB will then decide
on adopting these revised ISAs as CASs, including whatever amendments are needed, in accordance
with AASB’s criteria for such amendments.
Auditing Financial Statement Disclosures
Financial statement disclosures have become more detailed and complex as a result of evolving
financial reporting standards. Disclosures are a fundamental part of the financial statements, seen as
an increasingly important way for preparers to communicate deeper insights about the entity’s financial
position and financial performance than is possible through the primary financial statements alone.
The objective of the IAASB project is to gain a robust understanding of the views and perspectives on
issues relevant to auditing disclosures in a financial statement audit.
In March 2014, the IAASB approved an exposure draft of revisions to certain ISAs dealing with
disclosures in the audit of financial statements. The AASB provided input to the IAASB on key issues.
The AASB expects to issue its own exposure draft by early June 2014.
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AASB ANNUAL REPORT 2013-2014
Responsibilities Relating to Other Information
Revised ISA 720, The Auditor’s Responsibilities Relating to Other Information in Documents
Containing Audited Financial Statements, will specify appropriate responsibilities of the auditor relating
to a range of other information in documents containing audited financial information.
Responses by stakeholders to the IAASB’s Exposure Draft of proposed revised ISA 720 issued in
November 2013 proved to be quite diverse. Based on input received, the IAASB decided that significant
changes were needed and, in April 2014, issued an Exposure Draft re-exposing revisions to ISA 720.
Keeping pace with the IAASB, the AASB expects to issue its own exposure draft in May 2014.
Development of Canadian Standards on Other Assurance and Related
Services Engagements
Standards for Assurance Engagements
In September 2013, the IAASB approved International Standard on Assurance Engagements (ISAE)
3000, Assurance Engagements Other than Audits or Reviews of Historical Financial Information. It
provides much more detailed and comprehensive requirements and supporting guidance than the
extant ISAE.
During the IAASB’s project, the AASB raised significant issues with how the proposed ISAE would
deal with direct engagements. In the end, the IAASB decided that ISAE 3000 would deal with
attestation engagements (i.e., not specifically cover direct engagements). The AASB approved an
exposure draft in early 2014 proposing to adopt ISAE 3000 as Canadian Standard on Assurance
Engagements (CSAE) 3000, Attestation Engagements Other than Audits or Reviews of Historical
Financial Information. Also, because direct engagements are commonly performed in Canada,
especially by public sector auditors, the AASB developed and approved its exposure draft of CSAE
3001, Direct Engagements. These exposure drafts are expected to be released in the summer of 2014.
Standards for Review Engagements
In June 2013, the AASB issued an Exposure Draft of a proposed revised review engagement standard
based largely on the IAASB’s recently revised International Standard for Review Engagements (ISRE)
2400, Engagements to Review Financial Statements. A webinar was held and consultations conducted
in the fall to obtain input from Canadian stakeholders. Both were well attended. As well, several
written responses to the Exposure Draft were received. Stakeholders had widely varying views on the
proposals and the AASB is carefully considering these responses in how best to proceed.
Capital Market Standards (7000 series of Sections)
The AASB issued an Exposure Draft of proposed Section 7060, Auditor Review of Interim Financial
Statements, which will replace Section 7050 (with the same name). The AASB deferred indefinitely
the project to revise Section 7200, Auditor Assistance to Underwriters and Others, and discussed
issues related to the revision of Section 7500, Auditor’s Consent to the Use of the Auditor’s Report
in Connection with Designated Documents.
AASB ANNUAL REPORT 2013-2014
9
Communications with Law Firms
The AASB commenced work on a project to revise the “Joint Policy Statement Concerning
Communications with Law Firms Regarding Claims and Possible Claims in Connection with the
Preparation and Audit of Financial Statements” appended to Canadian Auditing Standard (CAS) 501,
Audit Evidence — Specific Considerations for Selected Items. The AASB expects to issue an exposure
draft of a revised Joint Policy Statement in the summer of 2014.
Reports on Supplementary Matters
In recent years, practitioners have received an increasing number of requests from various regulatory
bodies for reports on information about the entities being audited. These reports deal with matters
about which the practitioner may become aware while completing an audit or review engagement,
but that go beyond the scope of that audit. There were also requests from government funding
agencies for practitioners to report separately on detailed schedules of information underlying
financial statement items without doing any further audit work on these schedules. From time to time,
practitioners have asked what standard should be applied when responding to these requests.
In August 2013, the AASB issued an Exposure Draft of Canadian Standard on Related Services
(CSRS) 4460, Reports on Supplementary Matters Arising from an Audit or a Review Engagement.
Webinars and consultations were conducted to inform stakeholders of the key aspects of the proposed
standard and to obtain their input. In March 2014, the AASB unanimously approved the final standard.
Association
The AASB continued its work to revise Section 5020, Association. There are many issues to be dealt
with in this project because of its complex interrelationship with many other ongoing standards. The
project is progressing as planned. The AASB expects to issue an exposure draft in the autumn of
2014.
Special Reports — Assurance on Compliance with Agreements, Statutes
and Regulations
Practitioners are often asked to provide assurance on an entity’s compliance with statutes, regulations
and agreements. In 2011, the AASB approved a project to draft in the clarity format and revise, if
necessary, Sections 5800, Special Reports — Introduction, 5815, Special Reports — Audit Reports
on Compliance with Agreements, Statutes and Regulations, and 8600, Reviews of Compliance with
Agreements and Regulations. The project was put on hold for approximately two years until umbrella
standards for assurance engagements were developed. During 2013-2014, the AASB debated issues
regarding the revision of these standards, including the relationship between subject-matter-specific
standards such as these and the umbrella assurance standards (i.e., CSAE 3000 and CSAE 3001).
The AASB will continue to discuss these issues with a goal of issuing an exposure draft in the autumn
of 2014.
Agreed-Upon Procedures
In January 2014, the AASB approved a project proposal to revise and redraft Section 9100, Reports
on the Results of Applying Specified Auditing Procedures to Financial Information Other than Financial
Statements. Throughout the next year, the AASB will discuss issues related to this project.
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AASB ANNUAL REPORT 2013-2014
APPENDIX 2
USE OF THE AASB’S RESOURCES
AASB Performance Activities 2013-2014 (hours)
AASOC support
3%
Auditing
standards
9%
Administration
23%
Planning and
processes
1%
Other standards
33%
Liaison
10%
Structure of
CPA Canada
Handbook
– Assurance
Maintain
strong Canadian
standard-setting
capability
6%
13%
Implementation
guidance
2%
AASB ANNUAL REPORT 2013-2014
11
Staff Resources (hours)
Activity
2013-14
%
2012-13
%
9
19
Set high-quality standards and guidance
Auditing standards
Other standards
34
31
Other, including Handbook structure and implementation guidance
15
10
58
60
6
8
Administration, planning and processes
23
22
Liaison
10
8
3
2
100
100
Maintain a strong Canadian standard-setting capability
AASOC support
Staff resources devoted to auditing standards decreased this year. A significant amount of time was
spent in the prior year dealing with matters related to future changes in auditor reporting standards.
The Exposure Draft was issued in September 2013. While staff dedicated significant time to this
important project, the time required was less than in 2012-13. Because fewer staff resources were
dedicated to the Auditor Reporting project, more time was available for other standards projects and
other standards and guidance, including those projects noted in Appendix 1.
Financial Resources
Costs
2013-14
Actual
$000
2013-14
Budget
$000
2012-13
Actual
$000
1,403
1,493
1,403
Meetings and travel
263
277
196
Translation
160
257
220
Occupancy
87
87
82
Consulting
25
5
0
Administration
21
36
25
1,959
2,155
1,926
Human resources
AASB Total
Meetings and travel costs were under budget because actual locations of international meetings
were different than what was expected when the budget was set. Differences in the timing of various
domestic meetings and related project work also contribute to the variance.
Translation costs were much lower than both budget and the prior year actual. This is partly a timing
issue – some lengthy standards that were expected to be finalized mid-way through the year were not
finalized until closer to the end of the year and, therefore, the full costs of translation were not incurred
by the year end.
Consulting costs were over budget as the budget did not anticipate hiring a consultant during the year
to assist on a specific project.
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AASB ANNUAL REPORT 2013-2014
MEMBERSHIPS
Standing (back row), L-R: Chi Ho Ng, Alan Reynolds, Eric Turner, Marian McMahon, Dave Rasmussen, Marcel Couture,
Anna Moreton, Fred Pries, Jim McCarter; Standing (middle row), L-R: Jacqui Kuypers, Svetlana Berger, Lisa Blackburn,
Michael Frankel; Sitting (front row), L-R: Greg Shields, Mark Davies, Cathy MacGregor
Auditing and Assurance Standards Board
Mark Davies, CIA, CPA, CA
CHAIR
KPMG LLP
Toronto
Cathy MacGregor, CA
VICE-CHAIR
Grant Thornton LLP
Halifax
Alodie Brew, CPA, CA
PwC LLP
Toronto
Michael Frankel, FCPA auditeur, FCA
Richter S.E.N.C.R.L.
Montreal
Darrell Jensen, CPA, CA
Ernst & Young LLP
Toronto
Andrew Macartney, CPA, CA
Deloitte LLP
Toronto
Jim McCarter, CPA, CA
Marcel Couture, CPA auditeur, CA
Toronto
Vérificateur général du Québec
Québec
AASB ANNUAL REPORT 2013-2014
13
Marian McMahon, CPA, CA
Office of the Auditor General of Canada
Ottawa
Anna Moreton, CA
Wolrige Mahon LLP
Vancouver
Fred Pries, PhD, CPA, CA
University of Guelph
Guelph
Dave Rasmussen, CPA, CA
Non-Voting Members
Glenn Rioux, MM, CPA, CA
Vice-President, Standards
Toronto
Greg Shields, CPA, CA
Director, Auditing and Assurance Standards
Toronto
John Wiersema, FCPA, FCA
Orleans
BDO Canada LLP
Toronto
Staff Support
Alan Reynolds, MBA
Auditing and Assurance Standards
Toronto
Surrey
Jacqui Kuypers, CPA, CA
Auditing and Assurance Standards Staff
Director
Greg Shields, CPA, CA
Principals
Svetlana Berger, CPA, CA
Lisa Blackburn, CPA, CA
Juli-ann Gorgi, CPA, CA
Jacqui Kuypers, CPA, CA
Chi Ho Ng, CPA, CA, CPA (IL)
Eric Turner, CPA, CA
Administrative Assistant
Ritu Parhar
Audit Reporting Implications of the New CASs Task Force
Gord Briggs, CPA, CA
Gregg Ruthman, CPA, CA
Julie Corden, CPA, CA
Jean-Francois Trepanier, CPA auditeur, CA
Sophie Gaudreault, CPA, CA
Observer
Ernst & Young LLP
Toronto
Deloitte LLP
Toronto
PwC LLP
Toronto
Claudia Leonardi, CPA auditrice, CA
KPMG LLP
Montreal
Dave Rasmussen, CPA, CA
BDO Canada LLP
Toronto
14
Office of the Auditor General of Canada
Ottawa
Raymond Chabot Grant Thornton LLP
Montreal
Mark Pinch, CPA, CA
Ontario Securities Commission
Toronto
Staff Support
Eric Turner, CPA, CA
Auditing and Assurance Standards
Toronto
AASB ANNUAL REPORT 2013-2014
International Auditing and Assurance Standards Board
Voting Member
John Wiersema, FCPA, FCA
Orleans
Technical Advisor
Greg Shields, CPA, CA
Director, Auditing and Assurance Standards
Toronto
Joint Policy Statement with CBA Task Force
Darrell Jensen, CPA, CA
Ernst & Young LLP
Toronto
Anna Moreton, CA
Wolrige Mahon LLP
Vancouver
Michael Strain, CPA, CA
CIBC
Toronto
Observer
Bill McFetridge, LLB, FCA
Bull, Housser & Tupper LLP
Vancouver
Non-Voting Member
Glenn Rioux, MM, CPA, CA
Vice-President, Standards
Toronto
Staff Support
Svetlana Berger, CPA, CA
Auditing and Assurance Standards
Toronto
Reporting on Supplementary Matters Task Force
Travis Leppky, CA, CISA
Suzanne Tucker, CMA
Agnes Dykstra, CPA, CA
Observer
BDO Canada LLP
Winnipeg
PwC LLP
Toronto
Deposit Insurance Corporation of Ontario
Toronto
Laural Ross, CPA, CA, CIA
Anne-Marie Ethier, CPA, CA
Deloitte LLP
Ottawa
Office of the Superintendent of Financial Institutions
Ottawa
Staff Support
Maurice LaPlante, CPA, CA
Office of the Auditor General of Canada
Ottawa
Jacqui Kuypers, CPA, CA
Auditing and Assurance Standards
Toronto
Ian McConnan, FCA
Edmonton
Jean Francois Trepanier, CPA auditeur, CA
Raymond Chabot Grant Thornton LLP
Montreal
AASB ANNUAL REPORT 2013-2014
15
Review Engagements Task Force
Gordon Cummings, CA, CPA (IL)
D&H Group LLP
Vancouver
Colleen Cashion, CA
Calgary
Mina Farinacci, CPA auditrice, CA
BDO Canada LLP
Montreal
Kelly Khalilieh, CPA, CA
Ernst & Young LLP
Toronto
Gordon Moore, FCA
Observers
David Kennedy, BMath, CPA, CA
Institute of Chartered Accountants of Ontario
Toronto
Annie Smargiassi, CPA auditrice, CA
Ordre des CPA du Québec
Montreal
Staff Support
Svetlana Berger, CPA, CA
Auditing and Assurance Standards
Toronto
Halifax
Securities Regulation Advisory Group
Jim Saloman, FCPA, FCA
Laura Moschitto, CPA, CA
Reinhard Dotzlaw, FCPA, FCA
Janet Stockton, CPA, CA
Laney Doyle, CPA, CA
Observer
PwC LLP
Toronto
KPMG LLP
Toronto
Ernst & Young LLP
Toronto
Johanna Field, CPA, CA
Grant Thornton LLP
Toronto
Jeremy Jagt, CPA, CA, CPA (IL)
Grant Thornton LLP
Mississauga
KPMG LLP
Toronto
BDO Canada LLP
Toronto
Cheryl McGillivray, CA
Alberta Securities Commission
Calgary
Staff Support
Chi Ho Ng, CPA, CA, CPA (IL)
Auditing and Assurance Standards
Toronto
Andrew Macartney, CPA, CA
Deloitte LLP
Toronto
16
AASB ANNUAL REPORT 2013-2014
Standards for Assurance Engagements Task Force
Richard Flageole, FCPA, FCA
Orleans
France Alain, CPA auditrice, CA
Vérificateur général du Québec
Québec
Janet Allan, FCPA, FCA
Wendy Loschiuk, MBA
Office of the Auditor General of Canada
Ottawa
Gary Peall, CPA, CA
Office of the Provincial Auditor
Toronto
KPMG LLP
St. Catharines
Staff Support
Alistair Bryden, CA
Auditing and Assurance Standards
Toronto
PwC LLP
Calgary
Greg Shields, CPA, CA
Jeff Dumont, CA
Northern Alberta Institute of Technology
Edmonton
AASB ANNUAL REPORT 2013-2014
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Auditing and Assurance Standards Board
277 Wellington Street West
Toronto, Ontario M5V 3H2
Canada
Email: fras-nifc-canada@cpacanada.ca
www.frascanada.ca