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Purpose The purpose of this Guide is to provide practical guidance to auditors reporting on the Financial Transactions Return of a Registered Electoral District Association under the Canada Elections Act. The Guide sets out the eligibility requirements for the auditor and comments on a number of issues that the auditor is likely to face, including, but not limited to, auditor independence and objectivity, audits of opening balances, contributions received, and the GAAP requirements in respect of the Statement of Assets and Liabilities and the Statement of Revenues and Expenses. Samples of a consent letter, audit engagement letter and representation letter, as well as an auditor's report that is considered appropriate for this type of engagement, are also included in the Guide. The Guide has been updated to reflect Canadian Auditing Standards (CASs) effective for audits of financial statements and other historical financial information for periods ending on or after December 14, 2010. |
