In an attempt to save costs, routine tasks such as audit work related to bank reconciliations are being off shored to cheaper locations such as India. For instance, the Big 4 Firms in Canada, the United States, and the United Kingdom all have offshore centres in India. Read "Analysis: As more U.S. audit work moves to India, concerns arise," by Dena Aubin and Sumeet Chatterjee, at www.reuters.com/article/2012/10/16/ us-usa-audit-india-idUSBRE89F1GC20121016 .
REQUIRED
a. Provide a supported discussion on your views about "off shoring" of audit work. Include in your analysis a discussion about both the pros and cons of this approach considering the potential impact on the Canadian CPA profession and audit quality.