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Independent Standard-Setting Boards
The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.
The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.
The International Ethics Standards Board for Accountants sets high-quality, internationally appropriate ethics standards for professional accountants, including auditor independence requirements.
The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.
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Audit & Assurance
Accounting firms offer a wide range of professional services to their clients, including audit, review, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards or national requirements that have been based on international ones. High-quality international standards increase the comparability, consistency, clarity, credibility, and transparency of financial information. And, high-quality financial information, in turn, increases the stability of the global financial infrastructure. Read More
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Audit & Assurance Alert
September 30, 2014 - CPA Canada
The what, why, and how to CAS 600 complying with requirements in group audits involving components in emerging markets
This article looks at how accountants who perform audits gain a wealth of information about their clients, information that they can use to the benefit of businesses and themselves. Also available in French.
This article examines the case for pared-down audit standardssometimes called audit-litefor smaller entities. Also available in French.
This article says that ensuring your clients are the ones you really want takes time and effort, but in the end, its a win-win for everyone. Also available in French.
How to Minimize Risks Posed by Micro-Entity Audits
June 1, 2013 - CPA Canada
This article explains that to prevent fraud, auditors should be aware of the risk factors that come with micro-entity audits. Also available in French.
This article explains that threats of inherent bias in making judgments can be overcome if processes include appropriate safeguards. Also available in French.
This article explains that there are many inherent barriers to making good judgments, but they can be overcome with some effort and proper safeguards. Also available in French.