Let's talk audits

New CPA Canada guidance tools improve communication with auditors.

Starting candid discussions about audit quality just got easier. New guidance documents and tools produced by CPA Canada, the Institute of Corporate Directors and the Canadian Public Accountability Board (CPAB) will help audit committees improve communication with external auditors, augment their understanding of risk and control issues, better align the audit process with principal business and financial reporting risks, and improve financial reporting. The overview and two companion tools will help audit committees conduct annual assessments as well as comprehensive reviews of their external audit firms.

The CPAB has also developed a protocol, effective March 1, 2014, to increase the amount of audit inspection information available to audit committees.

To find out more, go to cpacanada.ca/enhancingauditquality.

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Highlights

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