This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

CPAB 2016 Big Four Public Report and Highlights for Audit Committees

  • CPAB - Assurance Image

Nov 28, 2016

On November 28, 2016, the Canadian Public Accountability Board (CPAB) released its 2016 public report on the inspections of Canada’s Big Four public accounting firms and Highlights for Audit Committees, which includes common findings and recommendations to improve audit quality.

The CPAB's 2016 inspections findings indicates that, despite an overall decrease in significant inspection findings compared to last year, audit quality continues to be inconsistent.

In 2016, CPAB inspected 87 engagements files, 11 of those had significant findings. Last year, CPAB reported five key inspection themes. Ninety-six percent of their total findings related to these areas again in 2016: significant accounting estimates, executing audit fundamentals, professional judgment and skepticism, internal controls and understanding business processes relevant to financial reporting.

Review the Public Report and the Highlights for Audit Committees on the CPAB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.