Standards Interpretation—Actuarial Awareness for Auditors—Selection of the Accounting Discount Rate (under IFRS)—Update as at 30 September 2023

Nov-2023

Target Audience: All attest auditors

Effective date: Immediately

Prepared by: Audit Services

Description of Subject: Quarterly update of the Actuarial Awareness for Auditors—Selection of the Accounting Discount Rate (under IFRS). This update supersedes the previous quarterly update publication.

Impact on Audit Teams: This guidance is to assist audit teams with the audit of the determination by management of the accounting discount rate for a Canadian defined benefit pension plan that requires the calculation of the obligation using a discount rate that is determined by reference to high-quality corporate bonds (or high quality debt instruments).

This guidance is only relevant for teams auditing IFRS entities that have defined benefit post-employment benefit obligations.

Questions: Contact AEA