CPA Canada and FEI Canada: How management contributes to audit quality

CPA Canada and FEI Canada partnered to conduct a study to assess management's understanding of the importance of its role as a contributor to the quality of the annual financial statement audit.

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CPA Canada, a national strategic partner of FEI Canada, collaborated with FEI Canada’s research arm, the Canadian Financial Executives Research Foundation to conduct a study to assess management’s understanding of its important role in contributing to the quality of the annual financial statement audit.

How Management Contributes to Audit Quality summarizes the insights and best practices that can help mitigate concerns and frustrations identified with the audit process, gathered from an online survey of 155 senior financial executives, as well as a roundtable discussion and one-on-one interviews with CPA Canada and FEI Canada members from across the country. Participants represented a broad range of industry sectors, organization sizes and ownership structures.

You will learn about:

  • management's internal processes for the audit
  • how management can contribute to audit quality in these areas:
    • audit processes
    • planning with the auditor
    • improving communication with the auditor
  • how data analytics can enhance audit quality