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Improving the Auditor’s Report – Polling Questions, with feedback option
Polling Question / Additional Feedback
Please provide us with any additional feedback you may have in regards to your response to the Polling Question
  1. The auditor’s report should include an explicit conclusion on the appropriateness of management’s use of the going concern assumption.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Readers will misinterpret any conclusion or statement in the auditor’s report relating to going concern.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Assuming that the IAASB requires auditor’s reports to include statements and conclusions relating to going concern, these requirements should apply to all entities.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Auditor Commentary should draw attention to a financial statement note (see example 1 in illustrative auditor’s report).
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Auditor commentary should summarize key matters in management’s disclosures (see example 2 in illustrative report).
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Auditor commentary should describe certain audit procedures relating to financial statement disclosures and include a conclusion from the auditor (see example 3 in illustrative report).
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Auditor commentary should include information about the audit strategy (see example 4 in illustrative report).
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. The concept of auditor commentary is an appropriate response to the call for auditors to provide more information to users through the auditor’s report.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Assuming that the IAASB requires auditor’s reports to include auditor commentary, these requirements should apply to all entities in Canada.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. The auditor’s report should include an explicit statement regarding whether, based on reading the other information, the auditor has identified material inconsistencies between the other information and the audited financial statements.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. Assuming that the IAASB requires auditor’s reports to include a statement regarding other information, these requirements should apply to all entities in Canada.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. The IAASB’s suggested form and structure of the auditor’s report give the appropriate emphasis to matters of most importance to users.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your answer:
  1. There should be different reporting requirements depending on the type of entity.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your response:
  1. Assuming the IAASB’s suggested improvements are made, they should apply for all listed companies, including small market cap companies.
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
Your response:
  1. It is critical for Canadian cross-listed entities that Canadian auditor reporting requirements not be significantly different from PCAOB auditor reporting requirements
  2. Strongly agree
  3. Agree
  4. Neither agree nor disagree
  5. Disagree
  6. Strongly disagree
  7. Don’t know
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