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CA Magazine, 2008-06, Vol.141 (5), p.22

Copyright CANADIAN INSTITUTE OF CHARTERED ACCOUNTANTS Jun/Jul 2008 ;ISSN: 0317-6878 ;CODEN: CAMADJ

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  • Title:
    From there TO HERE
  • Author: Middlemiss, Jim
  • Subjects: Accountability ; Accounting firms ; Auditing ; Auditing standards ; Audits ; Compliance ; Failure ; Financial reporting ; Financial statements ; Government agencies ; Quality control
  • Is Part Of: CA Magazine, 2008-06, Vol.141 (5), p.22
  • Description: The financial scandals at such firms as Enron, WorldCom and Nortel hit the accounting profession like a thunderbolt out of the blue and precipitated the incorporation of the Canadian Public Accountability Board (CPAB) in 2003. The organization was designed to contribute to public confidence in the integrity of financial reporting of public companies in Canada by promoting high-quality, independent auditing. Five years on, Keith Boocock, CEO of the independent auditor oversight board, says there is still a lot of room for improvement in the audits that his organization reviews. The key things are failure to document and failure to consult with partners on complex accounting matters. CPAB sees its role as one of moving the profession forward and helping accounting firms that audit public companies improve their compliance with quality-control standards. Investors are not overly impressed. If you look at the work of CPAB, it shows a number of audits that are not necessarily done to specification.
  • Publisher: Toronto: CANADIAN INSTITUTE OF CHARTERED ACCOUNTANTS
  • Language: English
  • Identifier: ISSN: 0317-6878
    CODEN: CAMADJ
  • Source: AUTh Library subscriptions: ProQuest Central
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