Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
The Public Accounting Oversight Board recently reported that approximately 40% of audits will have deficiencies, up 26% from the year prior. The Canadian Public Accountability Board recently reported that 33% of their reviews had significant findings, versus 28% in 2021. In spite of the regulatory changes that have been made, it appears that there is still much work to be done in maintaining the integrity of financial audits. In this session the seminar instructor will propose that the root cause of many audit deficiencies reflect ethical rather than technical issues. The “three C’s” (conflicts of interest, competition, consulting) will be discussed using current case studies, with consideration on what changes might improve professional ethics and public audits in the future.
Key Takeaways
This course will cover the following:
- A history of the problems:
- Competition
- Consulting
- Conflicts of Interest
- Current cases:
- EY Audit of Wirecard
- PwC Australia Consulting – Government practice
- EY Project Everest
- Types and sources of auditor bias
- Reflective discussion
- What should be done to improve the integrity of public audits?
Who Will Benefit
This course will be of general interest for all CPAs but of specific interest for those who work in or with larger public accounting firms.
There has been a documented deterioration in the integrity of public audits. Ethical issues have contributed to this deterioration. CPAs should be aware of these ethical issues and develop strategies to mitigate these ethical risks, in order to improve the integrity of public audits in the future.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course is for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Ken Lewchuk is a Chartered Professional Accountant (British Columbia) and a Certified Public Accountant (Texas). He graduated with a MBA from the Edinburgh Business School and with an MA in Applied and Professional Ethics from the University of Leeds (Distinction). His career has spanned public accounting (PwC), technical accounting, corporate finance and internal audit for corporations in United States and Canada. He has taught technical accounting and finance classes to corporate employees in several countries, been a conference speaker, and a guest lecturer at Texas A&M University on the topic of business ethics.