Audit committees can—and should—be key contributors to audit quality. Effective audit committees and auditors build confidence in the integrity of financial reporting.
The audit committee plays a critical role in creating the right environment for quality auditing. It is the audit committee's responsibility to create an environment that accommodates an open discussion in a culture of integrity, respect and transparency between management and auditors.
Audit committees are responsible for overseeing the work of the auditors. Among other things, they need to understand the audit strategy, be satisfied that it addresses the major audit risks, and make sure the auditors exercise appropriate professional skepticism. They also need to ensure that the auditor has an appropriately independent mindset from management and is truly objective. Ultimately, this will enable the audit committee to draw conclusions about the effectiveness of the audit.
2017 Audit Quality Symposium Key Messages.
CPAB releases 2016 Annual Report.
CPAB releases 2016 Annual Inspections Report.
CPAB held its first Financial Institutions Industry Forum on January 20, 2017 for audit committee chairs serving the boards of banks and insurance companies in Canada.
This report outlines our current findings regarding AQIs based on observations of participants in CPAB’s 2016 AQI Pilot Project. A summary is also available.
This summary highlights observations of participants in CPAB’s 2016 AQI Pilot Project. The full report is also available.
CPAB releases 2016 Big Four firm public inspections report.
CPAB 2016 Big Four Public Report: Highlights for Audit Committees.
A summary of the results of the 2016 CPAB Protocol Feedback Survey.
Part of CPAB’s Industry Insight series for audit committees, an overview of common areas of focus for an audit of a company operating in the oil & gas industry.
CPAB held its first Oil & Gas Industry Forum for audit committee chairs serving on the boards of publicly traded oil and gas companies in Canada.
CPAB releases 2015 Annual Inspections Report.
CPAB releases 2015 inspections report highlights for audit committees.
CPAB releases 2015 Annual Report.
Audit committee concerns related to IT risks and the role the external auditor and others could play in assisting the audit committee.
A discussion about two initiatives increasing transparency into the audit process - Enhanced Auditor Reporting and Audit Committee Reporting.
A discussion about two initiatives increasing transparency into the audit process - Audit Quality Indicators and Transparency Reporting.
CPAB’s 2015 Stakeholder Survey Summary of Results.
CPAB releases 2015 Big Four firm public inspections report.
CPAB 2015 Big Four Public Report: Highlights for Audit Committees.
Part of CPAB’s Industry Insight series for audit committees, an overview of common areas of focus for an audit of a company operating in the mining industry.
Part of CPAB’s Industry Insight series for audit committees, an overview of common areas of focus for an audit of a company operating in the banking industry.
Audit regulators and the profession continue to enhance the reliability of statutory auditing. But is external auditing losing its relevance?
This paper considers current trends in six key areas, with a particular focus in some areas on the global Big Four network firms.
CPAB speaks with audit committee chairs about observations and lessons learned on performing or planning to perform a comprehensive review.
Part of CPAB’s Industry Insight series for audit committees, an overview of common areas of focus for an audit of a company operating in the retail industry.
CPAB releases 2014 Annual Report.
CPAB releases 2014 all firm inspections report; overall results positive.
CPAB has produced a summary to its 2014 all firm inspections report called Highlights For Audit Committees with content of particular interest to audit committee members.
2014 Audit Quality Symposium Summary.
See how the 2014 Audit Quality Symposium participants voted on key questions relating to audit quality.
2014 Audit Quality Symposium Pre-Reads.
ICD Director Journal article explores the journey of audit committees from compliance to governance.
CPAB releases 2014 Big Four Public Report, audit quality improving.
CPAB Public Report on 2014 Inspections of the Quality of Audits Across Canada’s Big Four Accounting Firms: Highlights.
Critical information for assessing and responding to risk in foreign operations.
Join the conversation about audit quality matters and key activities to enhance audit quality.
weighs in on KPMG audit quality panel – ongoing challenges in a shifting global
CPAB teamed up with Veritas Investment Research to discuss the state of auditing in Canada and financial reporting risks.
This webinar reviews the guidance, tools and Protocol for audit committee oversight activities, emphasizing the director perspective, what this means for audit committees and their communications with auditors.
This publication outlines four key areas CPAB believes audit firms need to focus on to improve audit quality in a sustainable manner.
CPAB, CPA Canada and ICD weigh in on European audit reform
CPAB and CPA co-host webinar on guidance, tools and communications Protocol – and what it all means for auditors and their communications with the audit committee
2013 Annual Report