The Guide to Canadian Independence Standard ("Guide") updates the Guide to New Canadian Independence Standard released in 2003.
The Guide has been updated for wording modifications that have been made to the Independence Rule since it was introduced in 2003, and provides additional guidance in a number of areas that are subject to frequent calls to practice advisors.
A few topics have been added to the Guide:
- Compilation engagements;
- Communication requirements; and
- Impact of adoption of International Standards on Auditing as Canadian Auditing Standards
Disclaimer
This Guide to Canadian Independence Standard ("Guide") has been prepared to assist members and firms in understanding and applying the independence standard. It is neither a definitive analysis of the standard nor a substitute for a careful reading of Rule 204 “Independence” and the accompanying Council Interpretation. Members must read the standard to determine how it will apply to their own specific circumstances. In doing so, discussion with a professional colleague or a representative of a provincial institute may be of assistance and is encouraged.
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