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Overseeing the external auditor: A guide to performing a periodic comprehensive review

Published on: Jun 19, 2018

The Periodic Comprehensive Review of the External Auditor is uniquely Canadian. It’s our country’s response to the question of regulators around the world about how to best address potential familiarity and self-interest threats posed by the long tenure of an external auditor.

The number of comprehensive reviews conducted in Canada since 2013 likely falls well below the expectations of regulators and professional bodies. Why? From our experience, it appears many audit committees struggle to appreciate the value and are unsure how to best perform one.

In response, we’ve developed this guide to help audit committees explore the value of conducting a comprehensive review and understand the key phases necessary to effectively execute it. We also share our own insights gathered from experience, and provide tips and answers to frequently asked questions of audit committees.

Guide external auditor Image

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