Regulatory Alerts2023-06-09
Policy Statement to Regulation 52-108 Respecting Auditor Oversight
Securities regulatory authorities issued this policy statement to clarify the requirements of Regulation 52-108, which mandates that reporting issuers engage auditors participating in the Canadian Public Accountability Board (CPAB) oversight program. The document details specific notice obligations for audit firms regarding CPAB-imposed remedial actions and defines key terms such as significant component auditor and CPAB access agreements. It further outlines procedural requirements for electronic transmission via SEDAR+ and establishes criteria for determining when component auditors must provide CPAB with access to audit records.
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