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NCJ Number: 65859 Find in a Library
Title: SPECIAL COMMITTEE TO EXAMINE THE ROLE OF THE AUDITOR
Journal: C A MAGAZINE, THE ADAMS REPORT  Dated:(APRIL 1978)  Pages:36-74
Author(s): ANON
Corporate Author: Canadian Institute of Chartered Accountants
Canada
Date Published: 1978
Page Count: 40
Sponsoring Agency: Canadian Institute of Chartered Accountants
Toronto, Ontario M4W 1G5, Canada
Format: Article
Language: French
Country: Canada
Annotation: THE ADAMS REPORT CONCERNING THE ROLE OF THE AUDITOR IN CANADA IS REPRINTED.
Abstract: A SPECIAL COMMITTEE UNDER THE LEADERSHIP OF JOHN W. ADAMS WAS APPOINTED BY THE COUNCIL OF GOVERNORS OF THE INSTITUTE OF CANADIAN CHARTERED ACCOUNTANTS (ICCA) WITH THE TASK OF SUGGESTING (1) GUIDELINES OF BEHAVIOR FOR CANADIAN ACCOUNTANTS AND (2) CONCRETE MEASURES TO BE TAKEN BY THE ICCA AND OTHER PROFESSIONAL ORGANIZATIONS TO IMPLEMENT THESE GUIDELINES. GENERAL RECOMMENDATIONS OF THE COMMITTEE WERE (1) THE ADOPTION OF A 3-YEAR PROGRAM IN WHICH TO IMPLEMENT THE COMMITTEE'S RECOMMENDATIONS AND (2) THE CREATION OF A SPECIAL COMMITTEE EVERY 5 YEARS WHICH WOULD REPEAT THE EXPLORATIO OF THE ADAMS COMMITTEE. WITH REGARD TO THE AUDITOR'S ROLE, RECOMMENDATIONS INCLUDE LEGAL CHANGES, CHANGES IN THE ICCA MANUAL, A PROFESSIONAL LIABILITY INSURANCE , AND CERTAIN IMMUNITIES FOR ACCOUNTANTS IN THE EXECUTION OF THEIR FUNCTION. THE COMMITTEE ALSO RECOMMENDED THAT ALL COMPANIES RESPONSIBLE FOR RENDERING ACCOUNTS BE AUDITED IN PUBLIC BY AN INDEPENDENT AUDITOR. THE REPORT EMPHASIZES THE NEED FOR A FORMULA PERMITTING AUDITORS TO DISCOVER NEW TYPES OF COMPANY IRREGULARITIES AND TO COMMUNICATE THEM TO THE MEMBERS OF THE PROFESSION. OTHER DETAILED RECOMMENDATIONS CONCERN ILLEGAL OR SUSPECT COMPANY TRANSACTIONS, THE AUDITOR'S REPORT, THE INDEPENDENCE OF AUDITORS, UNIFIED PROFESSIONAL NORMS, AND AUDITOR TRAINING. THE MANDATE OF THE COMMITTEE, A COMPARISON BETWEEN U.S. AND CANADIAN AUDITING CONDITIONS, AND OVER 60 REFERENCES ARE APPENDED. --IN FRENCH. (SAJ)
Index Term(s): Auditing standards; Canada; Commission reports; Fraud; Professional conduct and ethics; White collar crime
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http://www.ncjrs.gov/App/publications/abstract.aspx?ID=65859

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