CAS 700: Forming an Opinion and Reporting on Financial Statements
Requirements for forming an opinion and the form and content of the auditor's report.
Why CAS 700 matters
The audit report is the deliverable. Mismatches between the report, the financial statements, and the disclosures cause filing delays.
Framework: Canadian Auditing Standards (CAS)
CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Primary source: FRAS Canada
Frequently asked
What is CAS 700?
Requirements for forming an opinion and the form and content of the auditor's report.
Why does CAS 700 matter for an audit?
The audit report is the deliverable. Mismatches between the report, the financial statements, and the disclosures cause filing delays.
Which framework does CAS 700 belong to?
CAS 700 falls under Canadian Auditing Standards (CAS). CAS are the auditing standards adopted by the Auditing and Assurance Standards Board (AASB) of CPA Canada. They are Canadian adoptions of the IAASB's International Standards on Auditing (ISAs) and govern every audit of financial statements performed in Canada.
Related standards — Canadian Auditing Standards (CAS)
- CAS 200 — Overall Objectives of the Independent Auditor
- CAS 210 — Agreeing the Terms of Audit Engagements
- CAS 220 — Quality Management for an Audit of Financial Statements
- CAS 230 — Audit Documentation
- CAS 240 — The Auditor's Responsibilities Relating to Fraud
- CAS 250 — Consideration of Laws and Regulations
See how Auditus checks CAS 700
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including CAS 700.