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Transparency into the Audit – Audit Quality Indicators and Transparency Reporting

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Mar 31, 2016

On March 31, 2016, the Canadian Public Accountability Board (CPAB) released a publication where it discusses the two initiatives increasing transparency into the audit process - Audit Quality Indicators and Transparency Reporting.

Traditionally the financial audit process has been opaque, operating in a black box environment with only a pass or fail judgement rendered by the auditor on an annual basis.

However, there has been a growing realization that increasing transparency into the audit process would be of benefit to audit committees, investors and other stakeholders.

A number of initiatives are underway internationally in order to increase transparency into the audit process. This publication outlines two initiatives: audit quality indicators (AQls) and transparency reporting.

Review the publication on the CPAB's Web site.

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