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Learn about the conclusions and final positions of Chartered Professional Accountants of Canada (CPA Canada) and the Canadian Public Accountability Board (CPAB) on their collaborative and comprehensive Enhancing Audit Quality (EAQ) initiative.
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In response to the fallout of the financial crisis, CPA Canada and CPAB collaborated on the comprehensive EAQ initiative to gain stakeholder input on emerging issues with respect to enhancing audit quality globally, and the impact on Canada.
Three working groups conducted extensive consultation with diverse groups of stakeholders and developed consultation papers.
The EAQ Steering Group synthesized the analyses and conclusions from the three groups’ discussion papers and conclusions, and arrived at final positions on these areas of focus:
Enhancing Audit Quality: Canadian Perspectives, Conclusions and Recommendations, the final report of the EAQ initiative, focuses on the contentious issues that achieved little global consensus and provides the reasoning behind how conclusions were reached. The report also summarizes many other conclusions that were not disputed.
It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers.
March 18, 2020
The federal government’s actions and fiscal support to address the widespread and devastating economic fallout of the COVID-19 pandemic are welcomed by Chartered Professional Accountants of Canada (CPA Canada).
Listen to this special edition Practitioner’s Pulse webinar where we answer some frequently asked questions around practice management issues and some key financial reporting and auditing implications of COVID-19.