Questions directors should ask – the auditor

About the audit findings

Did you identify any significant issues during the audit?

Were there any errors, inconsistencies or concerns in the financial records or financial statements?

What were the main areas you focused on during the audit?

• Why were these areas important?

About information provided to the auditor

Did management provide all the information and records you requested?

About internal controls

Did you identify any weaknesses in the corporation's financial controls or governance processes?

What improvements would you recommend to strengthen the corporation's financial controls?

Are there any risks that the board should pay particular attention to?

About the audit opinion

What type of audit opinion have you issued?

If the audit opinion is qualified or contains concerns, what action should the board take?

Are the financial statements a fair and accurate representation of the corporation's financial position and performance?

Looking ahead

Are there any financial management, accounting or governance risks that directors should monitor in the future?

What improvements would you recommend to the corporation's financial reporting, record keeping or accounting systems?

Is there anything else that directors should know about the corporation's financial position or financial management?