MNP Comment Letter - Reporting on Controls at a Service Organization Relevant to User Entities' Internal Control Over Financial Reporting Exposure Draft

Category: Assurance

MNP Comment Letter - Reporting on Controls at a Service Organization Relevant to User Entities' Internal Control Over Financial Reporting Exposure Draft

Excerpt

We support the AASB’s efforts to realign CSAE 3416 with CSAE 3000 and American Institute of Certified Public Accountants’ (AICPA) AT-C Section 320, while maintaining alignment with International Standard on Assurance Engagements (ISEA) 3402. The alignment will reduce reporting burdens for clients, including the resources and costs involved in issuing reports under standards relevant to different jurisdictions. Many of our clients operate or have service organizations in multiple jurisdictions, including both Canada and the United States. Realigning the standards between these jurisdictions will reduce confusion and allow our clients and practitioners to issue a single report for reporting on financial reporting controls at a service organization to conform with CSAE 3416 and AT-C Section 320.

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

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.