MNP Comment Letter - Communication of Key Audit Matters in the Auditor's Report Exposure Draft

Category: Assurance

MNP Comment Letter - Communication of Key Audit Matters in the Auditor's Report Exposure Draft


We have reviewed the ED and have provided our response to the specific questions below. Overall, we support the Auditing and Assurance Standards Board’s (the “AASB”) project to adopt the Communication of Key Audit Matters (KAM) in the Auditor’s Report as stated in Canadian Auditing Standard (CAS) 700 Forming an Opinion and Reporting on Financial Statements for Aequitas NEO Exchange (NEO), Canadian Securities Exchange (CSE) and TSX Venture Exchange (TSXV). We agree that it is important to continue to align with the International Standards on Auditing, preserving quality of Canadian Auditing Standards as well as meeting the needs of the investors. However, we are concerned with the inclusion of listed and unlisted investment funds that are required to comply with NI 81-106.

Exposure Draft: Communication of Key Audit Matters in the Auditor's Repo

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Michelle Balmer

Michelle Balmer CPA, CA

Vice President, Assurance

Michelle Balmer, CPA, CA, is a Senior Assurance Services Partner with MNP. With 14 years of experience in public practice, Michelle helps a broad range of public and privately held companies in a variety of industries. She also works on special projects, including costing studies, benchmarking and best-practice studies, operational analyses, litigation support and due diligence.

As a key member of MNP's Assurance team, Michelle has played an instrumental role in assurance policy development, implementing accounting and assurance standards firm-wide and educating assurance practitioners regarding methodologies and new pronouncements. She also provides technical advice and consultation on accounting and assurance issues, as well as on rules of professional conduct issues, to all MNP practitioners.

Michelle was certified a Chartered Accountant (CA) after obtaining a Bachelor of Commerce degree from the University of Alberta. She has been actively involved with the Institute of Chartered Accountants of Alberta, including the Chartered Accountants School of Business, in an instructional and marketing capacity. An avid volunteer, she has assisted numerous groups such as the Easter Seals of Alberta, Paralympic Sports Association and Junior Achievement of Northern Alberta.