Regulatory Alerts2019-10-03
CSA Notice of Consultation: Draft Regulation to Amend Regulation 52-108 Respecting Auditor Oversight
The Canadian Securities Administrators propose amendments to Regulation 52-108 to address barriers preventing the Canadian Public Accountability Board from inspecting audit work performed by component auditors in foreign jurisdictions. The draft regulation requires reporting issuers to direct significant component auditors to enter into access agreements with CPAB, mandating that participating audit firms cease using non-compliant firms after a transition period. These measures aim to ensure CPAB can obtain necessary audit evidence while providing guidance on the interpretation and application of the new oversight requirements.
Share