Call for participants: Roundtable discussion – Providing assurance over key performance indicators

Take part in a series of roundtable sessions targeted at discussing how to provide assurance over information outside of financial statements.

While investors may identify audited financial statements as the critical foundation used for financial analysis and decision making, it is believed that the financial statements themselves constitute less than 20 per cent of all information used in financial analysis. CPA Canada and staff of the Audit and Assurance Standards Board are seeking your input on assurance over information outside the financial statements.

Objective and scope of the sessions

The focus of the discussion will be on assurance over a company's key performance indicators, including:

  • non-GAAP financial measures
  • other financial measures (i.e. financial measures that are not GAAP or non-GAAP measures)
  • non-financial measures or operating measures

Participants will be asked for their views on the auditability of the recently released for comment Accounting Standards Board’s (AcSB) Framework on Reporting Performance Measures and the Canadian Securities Administrator (CSA) Rule (anticipated to be released for comment in September 2018).

Targeted participants

Ideal participants would be practitioners:

  • with experience in providing assurance over information outside of the financial statements (e.g. CSAE 3000/3001 engagements)
  • who audit clients more likely to request such services to be performed in the future

Practitioners are welcome to bring their clients to participate as well, should they see value in their attendance.

Participation is particularly encouraged for, but not limited to, practitioners who audit:

  • public companies (including issues on the Venture Exchange)
  • large private enterprises
  • not-for-profit organizations
  • pension plans

Commitment and timing

We would like to have feedback from the same set of practitioners throughout the roundtable sessions. Therefore we request that those who would like to participate be prepared to commit to attending both of the roundtable discussions noted below:

  • Roundtable #1: August 15, 2018
    • discuss and provide feedback on the auditability of the AcSB Framework
  • Roundtable #2: October 23, 2018*
    • discuss and provide feedback on the auditability of the CSA Rule
    • compare and contrast how the AcSB Framework and CSA Rule may or may not be complementary with each other (from an assurance standpoint)

*Date is tentative and subject to change depending on the timing of the release of the CSA Rule.

Preparation

Participants will be asked to review the framework/rule in advance of the session. A document outlining the plan for the session and detailed questions will be circulated in advance of the meeting.

Further information

Those interested in participating in the roundtable sessions are asked to provide the following information to Karen DeGiobbi:

  • name and audit firm/organization represented
  • area of practice (i.e. public companies, not-for-profits, etc.
  • industry of practice, if relevant
  • confirmation of availability to participate in Roundtables 1 and 2