CPA Canada’s Pivot magazine recently asked whether auditors can “close the great expectation gap for good.” The article takes the form of a moderated discussion between five experts.  As the lead-in puts it: “The expectation gap is a huge and thorny issue in the audit profession—so much so that even the definition is up for…

The recent post on reporting about key audit matters caused me to start reflecting on the value of audit more broadly… In that earlier post, I quoted a Swiss Deloitte publication as follows: “A more relevant report may improve the user’s interest in the auditor’s report and their understanding of the audit, adding to the…

I’ve seldom mentioned audit matters on this blog – it’s not the area that primarily concerns or interests me… It’s worth spending a few moments though on pending changes to the current environment. Most imminently, Canadian Auditing Standard (CAS) 700 Forming an opinion and reporting on financial statements brings in an array of changes applying…