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What Credit Unions Need to Know About the New Canadian Auditing Standards (CAS)


​​With the adoption of Canadian Auditing Standards (CAS) for credit unions with year ends on or after December 14, 2010, the auditor's report date will be the date that the Board of Directors approve the financial statements. Prior to CAS, the auditor's report was based on substantial completion of audit work which could be months prior to the Board approval.

What will this mean for your upcoming audit? Please refer to the following blog for additional information: Changes to the Auditor's Report Date May Affect Your Audit.

For more information on how accounting changes may impact your credit union, please feel free to contact myself or any member of MNP's Credit Union team.