Our 2022/2023 report highlights that when we focus on being great in all that we do, exceptional audit quality is a natural output. Quality goes well beyond compliance with technical accounting and auditing standards. At Deloitte, we view audit quality to encompass the quality of the audit experience, the insights we provide to our clients, the proprietary processes and controls we develop and employ and a world-class talent experience for our people.
Risk oversight is among the most important of the audit committee’s responsibilities. This edition of On the audit committee’s agenda discusses some areas that are most likely to be the subjects of audit committee risk oversight in 2023 including: financial reporting and disclosure; enterprise risk management; cybersecurity; and environmental and climate change.
The Deloitte Canada Transparency Report summarizes our approach to be consistent leaders in audit quality – a true Category of One! The report provides information on our legal structure, governance, ethics and independence principles, and quality control processes and procedures.
In this edition of CFO Insights, we discuss why, 20 years after SOX became law, some companies are now saddled with outdated controls that are costly, unnecessary, and ineffective. We will also explore the steps CFOs can take to modernize their SOX programs and, by doing so, mitigate risks of material misstatement, lower the costs of compliance, improve efficiency, and gain deeper insights.
SOX modernization goes beyond controls rationalization to also consider operating model optimization, program enhancements, and technology and automation opportunities. Depending on an organization’s specific facts and circumstances and where it is on its SOX journey, different aspects of each of these pillars may be implemented at different times to effectively drive modernization.
This Heads Up discusses certain recent activities undertaken by the PCAOB as a result of what a Board news release describes as the PCAOB’s “assessment of priorities that advance audit quality to protect the interest of investors.” Specifically, the newsletter highlights (1) the inaugural meetings of the PCAOB’s Investor Advisory Group and its Standards and Emerging Issues Advisory Group, (2) the PCAOB’s adoption of new requirements for the lead auditor’s use of other auditors, and (3) the PCAOB’s standard-setting and research agendas.
Quality is the foundation of our profession. What we do is important, and we endeavour to lead the conversation on audit quality and set the bar. To this end, our commitment to quality aims to deliver excellence at every level.
This first issue of the Deloitte Global Boardroom Program’s new series, The Audit Committee Frontier, seeks to answer the question: What are leading practices for Audit Committees with respect to climate?
This publication provides an overview of the new standard, in order to help organizations determine whether a compilation engagement under CSRS 4200 is appropriate for their purposes.
This Heads Up discusses recent activities related to group audits, including the PCAOB’s new rule related to the Holding Foreign Companies Accountable Act and other standard-setting activities.
On the Board's Agenda for July 2021, size and maturity are among several significant differentiating factors among companies. Small companies have far fewer resources and may therefore find it harder to be resilient when faced with regulatory, economic, and other challenges. In addition, small companies—particularly those in early stages of growth—may need ongoing infusions of capital. And they may also have less mature and robust systems and processes, including those relating to internal controls. If these and other characteristics of smaller, less mature companies differ from those of their larger, more mature counterparts, does this mean that their boards have different roles and responsibilities?
