Everyone in the financial reporting ecosystem plays a critical role in the development of high-quality financial reporting.
The expectation gap between the public’s perception of the role of the auditor and the auditor’s responsibilities as it relates to fraud and going concern continues to generate significant discussion. While the auditor’s responsibility has been of particular focus, there are actions for all members of the financial reporting ecosystem to take in order to reduce the expectation gap and improve public confidence in financial reporting.
To better understand stakeholder expectations and how they might be addressed, the Auditing and Assurance Standards Board has started information-gathering efforts in collaboration with CPA Canada and various international organizations, such as the Association of Certified Chartered Accountants.
As part of these efforts, we have established easy-to-use quick polls and open forums on our new online community platform, Connect.FRASCanada.ca (Connect).
Key contact
Karen DeGiobbi
Principal, Auditing and Assurance Standards Board
416-204-3337
[email protected]