Resources

Sample response to use in conjunction with the accompanying article, Best Practices in Responding to U.S. Audit Enquiries.

Canadian lawyers who represent businesses are often asked to respond to audit inquiries from their cross-border clients, and in particular, their U.S. clients. The frequency of U.S. audit inquiries is increasing with the globalization of business and accounting standards. However, the revised Joint Policy Statement on responding to audit inquiries deals only with Canadian lawyers’ responses to Canadian audit inquiries.

JPS Communication Protocols Flowchart

Joint Policy Statement Concerning Communications with Law Firms Regarding Claims and Possible Claims in Connection with the Preparation and Audit of Financial Statements

We have prepared these brief questions and answers to help clarify for the legal profession the most significant features of the updated Joint Policy Statement on Audit Inquiries and their practical impact. Please always refer to the Joint Policy Statement itself when determining your responsibilities in the context of an audit inquiry.

Joint policy statement concerning communications with Law firms regarding claims and possible claims in connection with the preparation and audit of financial statements

This article examines the implications of IFRS for lawyers and the Interim Guidance that will help lawyers comply with recent changes to Canadian and international accounting and auditing standards.

Communications with law firms under new accounting and auditing standards.

Memorandum to Lawyers with regard to the joint policy statement on the preparation and audit of financial statements of the Canadian Institute of Chartered Accountants and the Canadian Bar Association.

This Joint Policy Statement of January 1978 has been approved by The Canadian Bar Association i 1 and by the Auditing Standards Committee of The Canadian Institute of Chartered Accountants [currently the Auditing and Assurance Standards Board]