Periodic comprehensive review of the external auditor: Tool for audit committees

Is it time for your audit committee to conduct a comprehensive review of the external auditor? Our tool provides guidance to help you perform an effective review and communicate a well-informed conclusion to the board.

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As recommended by the Enhancing Audit Quality (EAQ) initiative, audit committees should conduct a comprehensive review of external auditors at least every five years, to provide a deeper and broader analysis of external auditor performance than an annual assessment.

Periodic Comprehensive Review of the External Auditor — Tool for Audit Committees provides guidance on the preparation and content of the audit committee’s public report, so your audit committee can:

  • identify potential areas where the external audit firm can improve
  • identify potential areas where your audit committee can improve oversight
  • reach a final conclusion on whether the auditor should be reappointed or the audit should be put out for tender

This tool is also available in Microsoft Word format.

You will learn a step-by-step approach for using our tool, including:

  • determining the scope, timing and process of the comprehensive review
  • obtaining input from key personnel
  • obtaining audit firm input
  • assessing areas for audit committees to consider
  • concluding on the comprehensive review and communicating results to the board


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