Regulatory Alerts2022-03-17
Regulation to amend Regulation 52-108 respecting Auditor Oversight
The Autorité des marchés financiers, with approval from the Minister of Finance, issued this Regulation to amend Regulation 52-108 respecting Auditor Oversight. The amendments introduce new requirements for reporting issuers and participating audit firms regarding significant component auditors, defining them and mandating that reporting issuers permit these auditors to provide the Canadian Public Accountability Board (CPAB) with access to their audit work records. It further establishes procedures for handling instances where significant component auditors fail to provide CPAB access or enter into required agreements, including restrictions on their future engagement.
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