Assurance

Selected publications from CPA Canada on a variety of topics

Related Publications

Accounting for and auditing of digital assets

Sep 01, 2020

The objective of this practice aid is to develop nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively. This guidance is intended for financial statement preparers and auditors with a fundamental knowledge of blockchain technology. For the purposes of this practice aid, digital assets are defined broadly as digital records that are made using cryptography for verification and security purposes, on a distributed ledger (referred to as a blockchain). The distributed ledger keeps a record of all transactions on a blockchain network. Digital assets, as defined herein, may be characterized by their ability to be used for a variety of purposes, including as a medium of exchange, as a representation to provide or access goods or services, or as a financing vehicle, such as a security, among other uses.

Blockchain and Internal Control: The COSO Perspective

Jul 31, 2020

As blockchain becomes more mainstream, it is appropriate to focus on how this technology intersects with an entity’s internal control. With careful implementation and integration of blockchain, the distinctive capabilities of blockchain can be leveraged to create more robust controls for organizations. Further, blockchain-enhanced tools have the potential to promote operational efficiency and effectiveness, improve reliability and responsiveness of financial and other reporting, and improve compliance with laws and regulations. At the same time, blockchain creates new risks and the need for new controls. The Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Internal Control — Integrated Framework provides an effective and efficient approach that can be leveraged to design and implement controls to address the unique risks associated with blockchain.

Understanding the auditing requirements for accounting estimates and the use of specialists: Considerations for auditors and management

Jun 30, 2020

The Center for Audit Quality (CAQ) and Financial Executives International (FEI) have teamed up to provide auditors and management an overview of these most recently adopted and amended requirements and considerations related to how they may impact their respective responsibilities for providing investors and our capital markets with high-quality, reliable financial information.

The Data-Driven Audit: How Automation and AI are Changing the Audit and the Role of the Auditor

Jun 30, 2020

For many auditors, using automation and analytics is a first step in their digital journey towards an AI-enabled audit. Much like the digital advancements that preceded it, AI will perform repetitive tasks, provide greater insights and improve efficiencies and quality, allowing auditors to better use their skills, knowledge and professional judgment. As digital progress continues, the questions increase. What role will an auditor play in a world dominated by AI? How will the audit of the future change? What are the limitations of AI?

Audit and assurance alert: Revised CAS 315, risks of material misstatement

May 31, 2020

Learn about changes to the auditor’s responsibilities related to revised CAS 315, Identifying and Assessing the Risks of Material Misstatement.

2020 North American pulse of internal audit

Apr 30, 2020

The 2020 North American Pulse of Internal Audit “Bridging Critical Gaps” goes back to its roots. Internal audit leaders will find a renewed and deeper focus on audit plan allocations, risk levels, staffing, reporting lines, and audit function maturity. Read this publication to get a comprehensive picture of key risks, the health of organizational governance, and the state of the internal audit profession.

What auditors need to know about attestation engagements and direct engagements

Feb 29, 2020

Find out the answers to frequently asked questions related to the application of CSAE 3000 and CSAE 3001.

Viewpoints (Auditing crypto-assets): Relevance and reliability of information from a blockchain

Jan 31, 2020

Learn about factors an auditor may consider concerning the relevance and reliability of information obtained from a public blockchain to be used as audit evidence.

Viewpoints (Auditing crypto-assets): Are tests of controls needed regarding the ownership assertion?

Jan 31, 2020

Learn about factors an auditor may consider when determining how to obtain sufficient appropriate audit evidence to support the ownership assertion for financial statements that contain material crypto-asset balances.

Auditor reporting guide: Reporting implications of Canadian Auditing Standards (4th edition)

Dec 23, 2019

Take advantage of our reporting guide, which aims to promote consistency in the form and content of practitioners' reports by providing guidance with respect to commonly occurring reporting circumstances.

Audit Quality: Practice aid for audit committees

Dec 19, 2019

The Financial Reporting Council (FRC) has issued an update of its Practice Aid to assist audit committees in evaluating audit quality in their assessment of the effectiveness of the external audit process.

Audit quality in a multidisciplinary firm: What the evidence shows

Sep 25, 2019

Developed in partnership with Chartered Accountants Australia and New Zealand (CA ANZ) and the Association of Chartered Certified Accountants (ACCA), this report looks at the evidence surrounding the multidisciplinary model and its relationship with audit quality. It draws from leading academic literature, policy and expert views, and an in-depth study of how regulators worldwide manage risk.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.

Select language:

Centre for Financial Reporting

Centre for Financial Reporting

Deloitte User?

Centre for Financial Reporting

Assurance

Related Publications

Accounting for and auditing of digital assets

Blockchain and Internal Control: The COSO Perspective

Understanding the auditing requirements for accounting estimates and the use of specialists: Considerations for auditors and management

The Data-Driven Audit: How Automation and AI are Changing the Audit and the Role of the Auditor

Audit and assurance alert: Revised CAS 315, risks of material misstatement

2020 North American pulse of internal audit

What auditors need to know about attestation engagements and direct engagements

Viewpoints (Auditing crypto-assets): Relevance and reliability of information from a blockchain

Viewpoints (Auditing crypto-assets): Are tests of controls needed regarding the ownership assertion?

Auditor reporting guide: Reporting implications of Canadian Auditing Standards (4th edition)

Audit Quality: Practice aid for audit committees

Audit quality in a multidisciplinary firm: What the evidence shows

Correction list for hyphenation