During the COVID-19 pandemic, CPAB is committed to fulfilling its mandate and remains focused on audit quality and protecting the investing public. The health and safety of our employees is our main priority and we are all working remotely indefinitely. Thanks to our people’s flexibility and our sound IT infrastructure, CPAB’s operations continue. We are in ongoing discussions with participating audit firms, securities commissions, the profession and other regulators to understand the challenges facing auditors and providing our perspectives on key issues. For more information on CPAB’s operations, see below.

Inspections
 
Our 2020 inspections have begun. For the immediate future, CPAB will conduct all inspections remotely; we will not do any file reviews onsite.  We will continue to be flexible in conducting these inspections in a manner that balances the need to continue our oversight while being sensitive to the additional strains the pandemic is placing on audit firms and their people.
 
Quality management systems assessments at the four largest firms will proceed as planned.
 
Key audit quality matters
 
CPAB remains in continuous dialogue with participating audit firms and is providing our perspectives on key audit quality matters. Our most recent firm communication is available here and a list of other communications is available in the Resources sidebar on this page.
 
CPAB’s web portal for registered firms is also still accessible at this time. 
 
Stakeholder engagement
 
Our spring audit committee forums in Toronto and Montreal have been cancelled to reflect the current environment.  We will continue to assess our outreach activity and consider virtual approaches for future meetings and events.
 
For questions about our forums or other stakeholder engagement activities, please contact stakeholderengagement@cpab-ccrc.ca.
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