JZ081 How many auditors (or practitioners) does it take to sign an Auditor's report?
There has been a change to the wording on the engagement report for audits with the introduction of the new Canadian Auditing Standards. The report is now referred to as the Independent Auditor's Report. Prior to this the engagement report was referred to as the Auditor's Report or Auditors' Report, depending if the wording was singular or plural.
In the new report, the term "auditor" covers both the singular and plural. In Part I of the CASs, the Glossary of Terms presents the following:
Auditor - "Auditor" is used to refer to the person or persons conducting the audit, usually the engagement partner or other members of the engagement team, or, as applicable, the firm. Where a CAS expressly intends that a requirement or responsibility be fulfilled by the engagement partner, the term "engagement partner" rather than "auditor" is used. "Engagement partner" and "firm" are to be read as referring to their public sector equivalents where relevant.
Firm - A sole practitioner, partnership or corporation or other entity of professional accountants.
So the answer to the question above is, of course, ONE Auditor!
It takes one Auditor to sign the Independent Auditor's Report because the term 'auditor' may represent either one firm, one sole practitioner, one partnership, or another entity of professional accountants.
Does this apply to Review (CSRE 2400) standards?
The same principle applies for Review engagements. The report will always be referred to as Independent Practitioner’s Review Engagement Report. "Practitioner" is defined similarly to "auditor" in the CAS Glossary of Terms.
Practitioner (in the context of CSRE 2400) – A professional accountant in public practice. The term includes the engagement partner or other members of the engagement team, or, as applicable, the firm. Where CSRE 2400 expressly intends that a requirement or responsibility be fulfilled by the engagement partner, the term "engagement partner" rather than "practitioner" is used. "Engagement partner" and "firm" are to be read as referring to their public sector equivalents where relevant.
