Regulatory Alerts2019-10-03
Draft Regulation to Amend Regulation 52-108 Respecting Auditor Oversight
The Canadian Securities Administrators issued this draft regulation to establish new requirements for accessing significant component auditor working papers under Regulation 52-108. The amendment mandates that reporting issuers direct significant component auditors to provide the Canadian Public Accountability Board with inspection access and defines specific thresholds for identifying such auditors. It further imposes strict notification and usage restrictions on participating audit firms when CPAB issues notices regarding failed access agreements or inspection limitations.
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