The Canadian Public Accountability Board submitted comments on the International Auditing and Assurance Standards Board and International Ethics Standards Board for Accountants joint stakeholder survey for their 2028 to 2031 strategies and work plans, highlighting the issues it sees as most important in the Canadian context. It supported continued focus on relevance, responsiveness and global consistency, but said stronger coordination across audit, ethics, accounting and regulatory standard setters is needed. CPAB identified five key trends for the next strategy period: digital transformation, more agile standard setting, greater use of non professional accountants in audit firms, alternative ownership structures and the growth of non assurance services. It also singled out audit materiality and firm culture and governance for focused work. Drawing on its oversight work, CPAB said auditors do not always apply current principle based standards consistently in highly automated and technology driven audits and urged timely guidance on technology enabled environments, clearer expectations for evidence produced through automated tools, and possible oversight, certification or similar mechanisms for audit technology. It called for close IAASB and IESBA coordination on firm culture, governance, alternative ownership models and non assurance services so that ethics and independence requirements align with International Standards on Quality Management (ISQM) 1, asked the IESBA to review non assurance services and related fee provisions, and said ISA 320 on materiality is outdated because firms use different benchmarks and percentages in practice. On standard setting, it supported more use of non authoritative guidance, narrowly scoped projects, scalable requirements and timely post implementation reviews, while warning that greater agility should not weaken due process, clarity or public interest protections.
Canadian Public Accountability Board2026-05-12
Canadian Public Accountability Board urges IAASB and IESBA to prioritize technology guidance materiality and firm governance in 2028 to 2031 plans
The Canadian Public Accountability Board commented on the IAASB’s and IESBA’s 2028–2031 strategies, urging stronger coordination among audit, ethics, accounting and regulatory standard setters and highlighting Canadian priorities. It cited digital transformation, agile standard setting, changing firm structures and growth of non assurance services as key trends, and called for clearer guidance on technology enabled audits, a review of non assurance services and related fees, and an update of ISA 320 on materiality. CPAB supported more non authoritative guidance and scalable requirements, while warning that greater agility must not weaken due process or public interest protections.