Assurance

Selected publications from CPA Canada on a variety of topics

Related Publications

FASB Votes to Issue Exposure Draft on Enhancing the Disaggregation of Expenses in the Footnotes to Public Business Entities’ Income Statements

May 01, 2023

This Heads Up discusses the FASB’s decision to issue a proposed ASU that would require public business entities to further disaggregate certain expenses in their financial statement footnotes. The proposed ASU is expected to be released late in the second quarter of 2023 or early in the third quarter of 2023.

Professional Competence and Skepticism Are Essential to Quality Audits

Apr 24, 2023

The Spotlight reminds auditors of the importance of critically assessing the firm’s capabilities, obtaining proper understanding of the company they are auditing, and performing work with due professional care and professional skepticism. These matters are particularly important in circumstances where changes to economic conditions or other factors affect the company.

New PCAOB Staff Report Provides Insights on SPAC and De-SPAC Audits

Apr 14, 2023

On 19 April 2023, PCAOB released a new staff report which sheds light on an area where PCAOB inspectors have observed relatively high rates of audit deficiencies: special purpose acquisition companies (SPACs).

Audit Quality Reports Analysis: A Year in Review

Mar 21, 2023

This report covers over 100 unique qualitative disclosures and quantitative audit quality metrics in an analysis of the CAQ’s eight Governing Board firms’ most recent audit quality reports. The combination of qualitative information and quantitative metrics included in audit quality reports can provide transparency into the firm-level processes that accounting firms employ to promote and enhance audit quality.

Navigating geopolitical risk: building resilience requires collaboration in a challenging world

Feb 17, 2023

The aim of this thought leadership report is to provide internal audit professionals with ideas, approaches, and practical tips to help support their organizations in navigating geopolitical uncertainty. Geopolitical uncertainty has for several years been ranked by Chief Audit Executives as one of the top risks facing organizations, as evidenced in our annual Risk in Focus survey. However, despite its growing prominence and severity, geopolitical uncertainty is still the risk that, according to our research, internal audit spends the least time auditing.

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.

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Assurance

Related Publications

FASB Votes to Issue Exposure Draft on Enhancing the Disaggregation of Expenses in the Footnotes to Public Business Entities’ Income Statements

Professional Competence and Skepticism Are Essential to Quality Audits

New PCAOB Staff Report Provides Insights on SPAC and De-SPAC Audits

Audit Quality Reports Analysis: A Year in Review

Navigating geopolitical risk: building resilience requires collaboration in a challenging world

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

Correction list for hyphenation