A quick mid-month update. It is official. There is a new compilation standard. The AASB approved CSRS 4200 at their meetings held this week.
This news is so recent that I do not have the new standard or details on what was actually approved yesterday. All that I know from my contacts at CPA Canada and the AASB is that the standard has been approved and there are changes from what was in the Exposure Draft. What the changes are, I don’t know; only those who approved the new standard do know at this point.
The new CSRS is expected be in the Handbook in February but the effective date is not yet known. I expect there to be a lot of communication in the coming months so will disseminate and pass onto you in my monthly updates; I will also be building the changes into the courses that I instruct for many of you and your firms.
So all this to say… stay tuned. Changes are confirmed and coming but what they are still to be seen. So, in the meantime, happy Thanksgiving!!!!
Kirsten S. Albo, FCPA, FCA