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New Auditor Information – How Investors Can Benefit

New Auditor Information – How Investors Can Benefit

Wednesday, December 5 | 5:30 – 8:00 PM
Followed by a Catered Networking Reception

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As markets soar to new – and for some companies, unsustainable – heights, wouldn’t you like to have an insider’s understanding of how robust a company’s audit was, and where the auditor focused its attention?  Recent positive developments have emerged in the formerly opaque world of auditing, resulting in a trove of new investor information.  Analysts who master this information will gain important new insights about financial reporting strengths and weaknesses, as well as about whether the audit that the company’s audit committee provided for was likely to be up the task of ferreting out any material misstatements or weaknesses in controls.  Investors who use this information will finally have data on which to base their votes on auditor ratification and audit committee members, so that they may increase pressure on auditors to be their advocate rather than the company’s advocate

Learning Outcome Statements

  • Learn how to look behind the audit report to discover who really performed the audit.  Multi-national audit responsibilities might be shared among firms whose names are not in the opinion. Even within the signing firm, there can be major differences in the background and abilities of engagement partners, not to mention whether the audit firm itself may be new to the engagement, have long ties to the client, or is “just right.”  Learn how to assess these factors together to gain deeper insights about the quality of the audit.
  • Know what to expect from the “critical audit matters” arriving in the new expanded auditor’s report in 2019. These “critical audit matters” are designed to inform investors of issues that keep auditors up at night, so they should be insightful reading for all analysts and investors.
  • Consider how the new information might influence your choices in voting proxies next year.

Location

CFA Society New York
1540 Broadway – Suite 1010
45th St. Entrance

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