MNP Comment Letter - Reporting on Audited Financial Statements Exposure Draft Canadian

Category: Assurance

MNP Comment Letter - Reporting on Audited Financial Statements Exposure Draft Canadian



Overall we do not agree with the requirements of the proposed new International Standards on Auditing. Our responses to the comments requested by the IAASB, which follow below, detail our disagreements with the proposed changes. We agree that there is a need to respond to the calls from users of audited financial statements for the provision of more relevant information to assist in making financial decisions in today’s global business environment and we are therefore supportive of the AASB and IAASB initiatives to improve auditor reporting. However, such changes need to keep the Canadian market and needs in mind.

MNP Exposure - Draft Reporting on Audited Financial Statements Canadian

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.