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CPAB Response to IESBA Strategy and Work Plan

  • CPAB - Assurance Image

Jul 17, 2018

On July 17, 2018, the Cana­dian Pub­lic Ac­count­abil­ity Board (CPAB) posted its comment letter on the proposed strategy and work plan of the International Ethics Standards Board for Accountants (IESBA) for 2019 – 2023.

In addition to topics covered in the International Forum of Independent Audit Regulators (IFIAR) response, the CPAB highlighted the following items: (i) that it is supportive of the focus on board diversity, and recognize that this is managed through an independent nomination process.  It believes that diversity could be strengthened through the use of either rules or target goals for both board diversity and independence. (ii) It echoes the comments in the IFIAR letter highlighting the importance of the speed of standard setting. It also recommends the use of technology and innovation to increase the speed and effectiveness of consultation and decision making processes. And (iii) it encourages IESBA to consider a project to address practical issues encountered by group and component auditors in applying the independence standards in a group audit.

Re­view the comment letter on the CPAB's web­site.

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