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Audit Quality Report 2026

Message from our leaders

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Alycia Calvert
EY Canada Chair and Chief Executive Officer

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Zahid Fazal
EY Canada Managing Partner, Assurance


At EY Canada, we’re bringing our bold vision for the future of audit to life now, with quality at the centre.

What does that look like in practice? We:

  • Continue transforming the EY audit with our multi-year US$1B investment in technology and talent — an initiative that’s redefining how we perform audits, develop our people and serve our clients. We’re already using AI and advanced data analytics in our audits, and expanding our use of AI and agentic AI, as well as other cutting-edge technologies to enhance audit quality, drive efficiencies and provide better insights.

  • Invest in our people through expanded career experiences, building broader skillsets and deepening their business acumen. Through these opportunities, we’re developing well-rounded auditors with the capabilities and perspectives to offer clients fresh thinking and leading practices.

  • Approach our work with a continuous improvement mindset, which we call the EY Way. This moves us forward as we continue to innovate and perform work earlier in the audit, while providing a distinctive experience for our clients and our people. We bring to bear the skills and experience of our people and technology to perform a modernized, streamlined, risk-based audit that provides timely sector insights.

  • Address the dynamic risks faced by the companies that we audit, and we continue to engage with stakeholders to address topics such as technology transformation, the evolving fraud landscape, cybersecurity, sustainability, culture and the attractiveness of the profession.

    The EY audit promotes confidence in financial reporting and, in turn, the capital markets. With audit quality, independence, accountability and integrity as our foundation, we’ll continue to evolve how we work and shape the future of the EY audit. We are anticipating the needs of tomorrow and leading the way with confidence.

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Audit quality is our foundation, empowering teams with advanced tools and a culture of innovation. This purposeful work represents one more way we help build confidence in Canadian businesses and capital markets.


Highlights of key drivers of audit quality

EY Data for FY25





Zahid Fazal profile headshot
Our dedication to quality is reflected in our decisions, training and collaboration, guiding us as independent auditors to consistently provide high-quality, objective and ethical audits for EY in Canada and around the world.

We define audit quality as:

  • Being independent and objective, and acting with integrity and professional skepticism.
  • Complying with professional standards, including exercising due professional care.
  • Deploying multidisciplinary teams with appropriate skills and experience.
  • Identifying risks at the companies we audit and designing appropriate audit responses.
  • Bringing a continuous improvement mindset, coupled with effective supervision and review, to pace our work and address issues early.
  • Using innovative technology, including AI and data analytics, to deepen our understanding of a business and obtain better-quality audit evidence.
  • Having honest, robust and timely communications with the audit committee and management.

The result: independent audit opinions that promote trust and confidence in the capital markets.

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Our transformation journey

We are on a transformation journey to drive sustained audit quality and enhance the experience of our clients and our people.


We are transforming the audit by:

At EY, we support teams – full stop

Across our organization, our Quality Network proactively improves audit quality by coaching and training audit teams, reviewing working papers, advising teams on audit methodology, as well as executing risk management and quality control procedures. The network also offers customized coaching based on specific risk areas, including risks associated with Internal Control over Financial Reporting (ICFR). 

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Understanding our results is critical to fulfilling our role in building trust

We know that monitoring the effectiveness of our actions and performing robust root cause analyses of positive and negative audit performance are key components of our system of quality management. The results provide valuable information about how we can continuously improve audit quality.

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Audit Quality 2026 book with cover of Our commitment to audit quality

Download EY Canada’s Audit Quality Report


This report should be read in conjunction with our 2025 EY Canada Transparency Report, which provides additional information about our firm structure, system of quality management and independence practices.


Our latest thinking

Our commitment to Audit Quality – 2025

EY Canada is committed to audit quality. As independent auditors we perform high-quality audits that promote trust and confidence in capital markets.

Transparency Report 2025

EY Canada Transparency Report 2025 | Commitment to audit quality

Unlocking the potential of agentic AI: definitions, risks and guardrails

Explore agentic AI’s potential, how it differs from traditional systems, and why strong governance is key to managing its unique risks and capabilities.

The path forward: governing AI with insight and integrity

Learn how responsible AI governance helps Canadian boards build trust and gain a competitive edge. Discover key boardroom strategies today.

Digital Audit in Financial Services

Explore how financial services organizations can leverage digital audit tools to improve clarity, performance, and agility. Read more.

What Canadian audit committees should prioritize in 2025

EY Canada highlights key considerations for audit committees during the 2025 year-end audit cycle and beyond.



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