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Learn more about the background of the Enhancing Audit Quality (EAQ) initiative, including why the initiative was formed and how it helped to improve audit quality.
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In response to the financial crisis in 2008-09, many stakeholders around the world considered changes to the financial system to promote stability and reduce risk. As auditors play a key role to provide assurance on sound financial reporting, several global initiatives arose to look at ways to improve audit quality.
As it was important for Canadian business leaders to develop views and solutions that would work best for Canada and influence the global discussion, Chartered Professional Accountants of Canada (CPA Canada) and the Canadian Public Accountability Board (CPAB) created the EAQ initiative. Our document Enhancing Audit Quality Backgrounder provides important insights about how and why the EAQ initiative launched.
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.