Assurance

Selected publications from CPA Canada on a variety of topics

Related Publications

Considerations of ESG-related matters in an audit of financial statements

Dec 01, 2021

Environmental, social, and governance (ESG) has become an area of increasing focus. The demand by investors, regulators, and other users (stakeholders) for information about the effects of ESG-related matters on entities and their financial reporting has grown dramatically.

Joint report on Fraud, Going Concern and the Expectation Gap in Audit

Nov 30, 2021

The audit expectation gap – what financial statement users expect from the auditor and the audit versus the reality of what an audit is – continues to be an issue of growing importance for many stakeholders around the world.

2020 IAASB Handbook of international quality control, auditing, review, other assurance, and related services pronouncements

Sep 30, 2021

The IAASB has released the 2020 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements.

Nasdaq’s new board diversity rules—the shape of things to come?

Aug 20, 2021

On August 6, the Securities and Exchange Commission approved Nasdaq’s new board diversity rules. After the rules are phased in, most operating companies listed on the Nasdaq Stock Market will be required to: publish annual board-level diversity characteristics using a standardized template and ensure that the information is searchable; and have (or explain why they do not have) at least one director who self-identifies as female and at least one director who self-identifies as an underrepresented minority (i.e., Black or African American, Hispanic or Latinx, Asian, Native American or Alaska Native, Native Hawaiian or Pacific Islander, or two or more races or ethnicities) or LGBTQ+.

The Auditor’s Response to the Risks of Material Misstatement arising from estimates made in applying IFRS 17 Insurance Contracts

Aug 12, 2021

This new paper is designed to provide guidance primarily to those charged with governance on their oversight role of the external auditors and in assessing the effectiveness of the external auditor’s response.

Audited Financial Statements and Climate Related Risk Considerations

Aug 09, 2021

The Center for Audit Quality has released Audited Financial Statements and Climate-Related Risk Considerations, a report that addresses how companies and auditors need to apply US accounting and auditing standards to reporting climate-related risks. It also considers how investors can find climate-related information ahead of regulatory changes.

Market Trends 2020/21: Cybersecurity-Related Disclosures

Aug 02, 2021

This practice note identifies cybersecurity risk disclosures that offer detailed discussions on the potential reputational, financial, or operational harm resulting from cybersecurity breaches as well as the potential litigation or regulatory costs, policies, and procedures in addressing cybersecurity risks. It concludes with practical advice on how to prepare and enhance the required disclosures on cybersecurity risks and incidents.

Sustainability assurance alert: Third-party assurance over sustainability information

Jul 31, 2021

Read this alert to learn about a CPA’s role in third-party assurance over sustainability information.

Greater Transparency and Accountability in the Public Sector

Jul 31, 2021

CEOs are optimistic about the year ahead, expecting strong growth fueled by innovation and pent-up consumer demand. Key to achieving their growth goals will be an intense focus on sustaining the momentum of their digital transformations, as well as optimizing new workplace models to attract and retain a world-class workforce. All things tech and talent will dominate the CEO agenda throughout 2021 and beyond.

Illegal Acts: The External Auditor’s Responsibilities

Jul 31, 2021

This publication highlights the external auditor’s responsibilities with respect to illegal acts under PCAOB auditing standards and how the auditor’s responsibility to identify and detect a material financial statement misstatement due to fraud differs from the auditor’s responsibilities related to illegal acts.

Navigating the Reporting Landscape: An introduction to sustainability-related reporting for finance professionals

Jul 31, 2021

The guide offers a brief introduction to the changing corporate reporting landscape. It summarizes recent key developments in sustainability reporting including EU developments and the sustainability initiative of the IFRS Foundation Trustees. It shows how sustainability reporting is impacting the role of the accountant and shaping the future of corporate reporting. It also highlights how this area is likely to evolve going forward, offering signposting to further sources of information.

Enterprise Risk Management for Cloud Computing

Jul 30, 2021

The use of the COSO Enterprise Risk Management – Integrating with Strategy and Performance framework enables cloud computing to be integrated with the organization’s ERM function. The cloud computing governance approach provides a holistic view of cloud computing throughout the organization. Governance and communication and reporting dovetails with the cloud strategy, performance, and monitoring and revision. This is undertaken with a view that the implementation of cloud computing will coalesce the CSP’s cloud computing governance processes with those of the organization.

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Related Publications

Considerations of ESG-related matters in an audit of financial statements

Joint report on Fraud, Going Concern and the Expectation Gap in Audit

2020 IAASB Handbook of international quality control, auditing, review, other assurance, and related services pronouncements

Nasdaq’s new board diversity rules—the shape of things to come?

The Auditor’s Response to the Risks of Material Misstatement arising from estimates made in applying IFRS 17 Insurance Contracts

Audited Financial Statements and Climate Related Risk Considerations

Market Trends 2020/21: Cybersecurity-Related Disclosures

Sustainability assurance alert: Third-party assurance over sustainability information

Greater Transparency and Accountability in the Public Sector

Illegal Acts: The External Auditor’s Responsibilities

Navigating the Reporting Landscape: An introduction to sustainability-related reporting for finance professionals

Enterprise Risk Management for Cloud Computing

Correction list for hyphenation