Assurance

Selected publications from CPA Canada on a variety of topics

Related Publications

2022 Audit Committee Transparency Barometer

Nov 29, 2022

This report found several upticks in key disclosure trends including a year-over-year increase in cybersecurity disclosures, and for the first time the report tracks disclosures of audit committee oversight related to ESG.

Going Concerns: A 22-Year Review

Nov 17, 2022

This report covers 22 years of trends in going concern opinions – breaking down trends by company size, location, and industry. It also includes in-depth analyses of changes in going concern opinions, registration going concern opinions, and investment companies going concern opinions.

Audit Partner Pulse Survey, Fall 2022

Nov 14, 2022

This survey covers questions asked to audit partners at some of the country’s largest firms about what they are observing in the industries they audit in terms of economic health indicators, challenges and risks facing businesses within their sectors, and how those businesses are adjusting their strategies in the current environment.

Audit Committee: The Kitchen Sink of the Board

Nov 10, 2022

The role of the audit committee has changed significantly since the passage of the Sarbanes-Oxley Act of 2002,with many audit committees now overseeing a variety of emerging risks and balancing an ever-increasing workload. In seeking to understand more about audit committees’ evolving responsibilities, proxy disclosure strategies, and self-evaluation processes, the CAQ partnered with academic researchers who interviewed audit committee chairs or members from a variety of industries, company sizes, and maturity levels to learn how audit committees can better communicate their oversight responsibilities.

Twenty-Year Review of Audit & Non-Audit Fee Trends

Oct 01, 2022

In this report, you'll gain insight into audit and non-audit fee trends over a twenty-year period, with a closer look at developments in fees based on location, company size, and industry.

Spotlight: Observations from the Target Team’s 2021 Inspections

Aug 30, 2022

This Spotlight provides investors and other stakeholders a view into the target team’s work in 2021, including perspectives on the auditor’s responsibilities, observations, and good practices. The four focus areas for 2021 are fraud, interim reviews of SPACs, going concern and cash and cash equivalents.

Spotlight: Audit Committee Resource

Aug 11, 2022

Designed to serve as a timely reference for auditors, audit committee members, investors, and others, the Spotlight offers questions that audit committees of public companies might want to consider as part of their ongoing engagement and discussion with their auditors, including how the auditors are responding to the financial reporting and audit risks posed by the current economic environment.

Reporting Going Concern Matters in the Auditor’s Report

Jul 27, 2022

This non-authoritative Frequently Asked Questions publication addresses some of the common questions related to reporting going concern matters in the auditor’s report. Specifically, the publication focuses on the use of and interrelationship of the Material Uncertainty Related to Going Concern and Key Audit Matters sections, and the Emphasis of Matter paragraphs, in an auditor’s report prepared in accordance with the International Standards on Auditing.

ISA 315 First-Time Implementation Guide

Jul 27, 2022

The IAASB today released its First-Time Implementation Guide for ISA 315 (Revised 2019), Identifying and Assessing the Risks of Material Misstatement. The guide focuses on the more substantial changes that were made to International Standard on Auditing (ISA) 315 (Revised 2019) and will help stakeholders understand and apply the revised standard as intended. ISA 315 (Revised 2019) is effective for audits of financial statements for periods beginning on or after December 15, 2021. This publication does not amend or override ISA 315 (Revised 2019), the text of which alone is authoritative.

Audit Quality Inspection and Supervision Report

Jul 19, 2022

The FRC published its annual inspection and supervision results of the largest audit firms. Overall, 75% of audits inspected were good or required limited improvement (compared to 71% in 2021 and 67% in 2020). The number of audits considered good or requiring limited improvement has improved on the previous two years. Five of the largest firms had no audits requiring significant improvements.

A role for audit committees in oversight of climate change

Jul 19, 2022

There is increased attention being paid to climate change matters by a wide variety of stakeholders. The audit committee’s expertise in financial reporting makes it uniquely well-positioned to support the board in this area.

Audit Partner Pulse Survey, Q2 2022

Jun 29, 2022

The CAQ today released the results of a new survey series, Audit Partner Pulse Survey, aimed at gathering US public company audit partner observations on a range of topics, including the overall health of the economy, business transformation, quality of corporate disclosures and more. This survey of audit partners is the first of its kind, providing objective views by industry and sector.

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Related Publications

2022 Audit Committee Transparency Barometer

Going Concerns: A 22-Year Review

Audit Partner Pulse Survey, Fall 2022

Audit Committee: The Kitchen Sink of the Board

Twenty-Year Review of Audit & Non-Audit Fee Trends

Spotlight: Observations from the Target Team’s 2021 Inspections

Spotlight: Audit Committee Resource

Reporting Going Concern Matters in the Auditor’s Report

ISA 315 First-Time Implementation Guide

Audit Quality Inspection and Supervision Report

A role for audit committees in oversight of climate change

Audit Partner Pulse Survey, Q2 2022

Correction list for hyphenation