Enhancing Audit Quality: Auditor reporting model (September 2012)

Learn about the Auditor Reporting Working Group (ARWG)’s exploration of various proposals to enhance audit quality by strengthening the auditor’s report.

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In August 2012, the Auditor Reporting Working Group (ARWG), one of three working groups comprising the Enhancing Audit Quality (EAQ) initiative, issued the discussion paper Enhancing Audit Quality: Canadian Perspectives — The Auditor Reporting Model.

The objectives of the paper were to:

  • develop a sound conceptual approach for a consistent analysis of different proposals
  • challenge the status quo while recognizing the key elements that make existing Canadian auditing strong
  • help inform and engage stakeholders in the global debate
  • present a balanced view of the ARWG’s findings

You will learn about:

  • the views of the ARWG on global proposals
  • the connection between the auditor’s report and audit quality
  • the development of a structured framework that addresses expectation and information gaps and other considerations for proposal evaluations
  • additional information needs in the areas of:
    • providing additional information through auditor commentary
    • going-concern assessment
    • the auditor’s responsibilities for other information included in audited financial statements
    • clarifications and transparency in the audit process
    • expanding auditor assurance information beyond the financial statements


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