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Positive investor response to auditor reporting proposals

  • CPA Canada Image

Nov 19, 2015

On November 19, 2015, the Chartered Professional Accountants of Canada (CPA Canada) shared some insights from investors (primarily portfolio managers and buy side financial analysts) about key accounting and auditing matters of concern.

CPA Canada in collaboration with Veritas Investment Research and the Canadian Public Accountability Board, brought over 30 investors (primarily portfolio managers and buy side financial analysts) to discuss key accounting and auditing matters of concern.

A survey conducted onsite revealed current investor perceptions of the proposed new auditor report and roll-out. Here are the percentages of investors who either moderately agreed or strongly agreed to the following statements:

  • I rely on publicly issued financial statements when making investment decisions (82 per cent)
  • the concept of Key Audit Matters will help improve communication between management and investors (89 per cent)
  • the proposed staged implementation of the new auditor reporting standards in Canada is appropriate (75 per cent)
  • it is very important that Canadian and United States audit reporting standards converge (82 per cent)

Read the full blog entry on the CPA Canada's Web site.

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