54. Are the concepts in the review engagement standards consistent with the concepts in the new CASs?

Not entirely. When the Auditing and Assurance Standards Board adopted the International Standards on Auditing as Canadian Auditing Standards (CASs) for audits of financial statements, it made only minimal changes to the review engagement standards to ensure the consistency of concepts with the CASs. As a result, there are some inconsistencies that exist, for example relating to reporting on special purpose financial statements, and the use of Emphasis of Matter and Other Matter paragraphs. These inconsistencies will be eliminated over time.