Regulatory Alerts2022-01-13
Regulation to Amend Regulation 52-108 Respecting Auditor Oversight
This regulation amends Regulation 52-108 respecting Auditor Oversight by adding new provisions concerning "Significant Component Auditor’s Working Papers." It defines significant component auditors and mandates reporting issuers to permit them to provide the Canadian Public Accountability Board (CPAB) with access to their audit records upon request. The regulation also establishes requirements for participating audit firms and reporting issuers upon receiving CPAB notices regarding access limitations or failures to enter into access agreements, including restrictions on using non-compliant component auditors for future engagements.
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