Guide for Auditors of Registered Electoral District Associations Appointed under the Canada Elections Act

Guide for Auditors of Registered Electoral District Associations Appointed under the Canada Elections Act

Notes for practitioners:

• Subsequent to the publishing of this guide in January 2019, the reporting threshold in the Canada Elections Act has changed. No changes have been made to this edition of the guide.
• There are no changes in the Canada Elections Act regarding political financing since the last general election in 2019. The 8th edition of this guide is the latest version and is applicable for the 2021 federal election.

When auditing a registered electoral district association’s Financial Transactions Return, practitioners must comply with Canadian Auditing Standards (CAS). This second edition of the guide include changes in reporting due to the new auditor reporting standards, that are effective for periods ending on or after December 15, 2018.

The Guide for Auditors of Registered Electoral District Associations Appointed Under the Canada Elections Act provides practical guidance to assist in auditing the financial transactions return and includes a sample of the new independent auditor’s report.

The Guide is broken up into the following chapters:

Chapter 1 – Introduction

Chapter 2 – Preparation of the Financial Transitions Return

Chapter 3 – Audit of the Return

Exhibits:

• Example of Auditor’s Consent and Registration
• Sample Engagement Letter
• Sample Representation Letter
• Sample Note Describing the Financial Reporting Framework
• Sample Independent Auditors Report (Under the New Auditor’s Reporting Standards)
• Suggested Safeguards to Mitigate Self-Review Threats
• Considerations in Designing an Audit Program