Standard-setters viewpoints

Explore selected publications from standards-setters on a variety of topics related to financial reporting and assurance

Related Publications

Staff Update and Preview of 2022 Inspection Observations

Jul 24, 2023

This report presents aggregate observations from the PCAOB’s inspections of certain public company audits conducted by 157 audit firms in 2022. PCAOB staff expects approximately 40% of the audits reviewed will have one or more deficiencies that will be included in Part I.A of the individual audit firm’s inspection report, up from 34% in 2021 and 29% in 2020.

CPAB audit risk alert – Use of artificial intelligence applications in the audit

Jul 05, 2023

Over the past year there has been a significant advancement in the general availability of applications incorporating artificial intelligence, many of which could be used by auditors and management of Canadian reporting issuers. While the potential of these technological advancements to improve the effectiveness and efficiency of the audit is significant, it also creates risks that must be effectively managed. Before audit firms and audit engagement teams use these applications, it is essential that audit firms adopt appropriate safeguards to manage any risks to audit quality in the same fashion that these risks are managed with automated tools and techniques currently used in audits.

Spotlight: Audit Committee Resource

Jun 30, 2023

As part of their responsibilities, it is important that audit committees engage in effective two-way communication with auditors and ask relevant questions throughout the audit. The Spotlight groups questions that audit committees may want to consider regarding the auditor’s work on the following topics: Risk of fraud, risk assessment and internal controls, auditing and accounting risks, digital assets, merger and acquisition activities , use of the work of other auditors, talent and its impact on audit quality, independence, critical audit matters and cybersecurity.

Inspection Observations Related to Public Company Audits Involving Crypto Assets

Jun 13, 2023

The PCAOB released a new staff report, based primarily on observations gathered during 2021 and 2022 inspections. The staff report says that the use of crypto assets presents unique audit risks to public companies and broker-dealers and requires an appropriate risk assessment and audit response by audit firms.

Enhancing Greenhouse Gas (GHG) Reporting

May 24, 2023

This guidance provides finance and accounting professionals with a roadmap to engage with others across their business to prepare for GHG emissions reporting requirements aligned to financial reporting processes.

Correction list for hyphenation

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Centre for Financial Reporting

Centre for Financial Reporting

Deloitte User?

Centre for Financial Reporting

Standard-setters viewpoints

Related Publications

Staff Update and Preview of 2022 Inspection Observations

CPAB audit risk alert – Use of artificial intelligence applications in the audit

Spotlight: Audit Committee Resource

Inspection Observations Related to Public Company Audits Involving Crypto Assets

Enhancing Greenhouse Gas (GHG) Reporting

Correction list for hyphenation