Difference between CSAE 3416 and AT-C Section 320

  • Sampling :

Sampling Requirements are not included in AT-C Section 320 only if requirements in AT –C Section 105 and 205 are sufficient. Requirements which are derived from Canadian Auditing Standard (CAS) 530, 13 are still included in paragraph 34 of CSAE 3416 as no specific requirement related to sampling is stated by CSAE 3416.       

  • Written representations:

Certain representations from the extant standards which are no longer      included in AT-C-section 320 and also not addressed by CSAE 3000 are retained by Paragraph 41 of CSAE 3416.       

  • Extant terminology differences:

When compared with AT-C Section 320, certain terminology differences are still included by CSAE 3416, consistent with those in extent CSAE 3416. For example, Management’s Statement replaced management assertion.       

  • Using the work of internal audit function:

All requirements who dealt with use of internal audit are removed by AT-C Section 320. The basis of which is that all requirement in AT-C Section 105 and 205 are sufficient. Several requirements of CSAE 3000 dealing with internal audit were previously included in extant CSAE 3416. Depending on the above, extant requirements dealing with the use of internal audit are retained by paragraphs 39-40 of CSAE 3416. 

  • Identified or suspected instances of non-compliance with laws and regulations:

The service auditor, aware of any identified incidents of non- compliance with laws and regulations to determine the effect on the engagement.14 is required by AT-C Section 320. An auditor who determines the effect of both suspected and identified instances of non-compliance is required by CAS 25015. A similar addition which dealt with written representations from management was made to paragraph 41(b)(i) of CSAE 3416.