This new Audit and Assurance Alert addresses the auditor's responsibilities when responding to requests to consent to the use of their report. These requirements come into effect as of, and are applicable to, an auditor's consent provided on or after June 1, 2019.
- summarizes the considerations made in revising Section 7170, including how the CPA Canada Handbook – Assurance is structured to appropriately address standards on providing consent;
- summarizes what other Handbook sections address consent in connection with a given document;
- defines what is considered a "designated document" (e.g. audited financial statements, annual report, business acquisition report, MD&A, etc.);
- clarifies whether the auditor's consent applies to other documents included or referenced in a designated document; and
- clarifies whether the auditor's consent is required to be in writing.
Audit and Assurance Alert: Auditor's Consent in Connection with a Designated Document