Regulatory Alerts2022-03-17
Amendments to Policy Statement to Regulation 52-108 respecting Auditor Oversight
The Canadian Securities Administrators issued amendments to Policy Statement 52-108 to clarify definitions and procedures regarding auditor oversight for group financial statements. The document defines component auditors and significant component auditors by establishing specific thresholds for audit hours, fees, and asset or revenue percentages. It further mandates that reporting issuers permit access to component auditor records for the Canadian Public Accountability Board and outlines notification requirements for access limitations or denials.
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