MNP Comment Letter - Engagements to Review Historical Financial Statements Re-exposure Draft

Category: Assurance

MNP Comment Letter - Engagements to Review Historical Financial Statements Re-exposure Draft


Paragraph A82 indicates that the selection of materiality for interim financial statements will be more difficult because of the different contexts in which users may read the statements. The current wording of Paragraph A82 would be of assistance to practitioners performing reviews of special purpose interim financial statements. However, if general purpose interim statements are being reviewed, paragraph A82 may be seen to conflict with the general guidance on determining materiality, where paragraph A74 states that unless financial statements are for a specific purpose, the “effect of misstatements on specific users, whose information needs may vary widely, is not ordinarily considered.”

MNP Response letter to CSRE 2400 

Contact a member of MNP's Financial Reporting Team

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.