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Foreign Jurisdictions

On the matter of access to audit work performed outside of Canada, CPAB continues to experience barriers as we conduct our inspections.
 

On the matter of access to audit work performed outside of Canada, CPAB continues to experience barriers as we conduct our inspections. Investors should be concerned when foreign laws and regulations impede or reduce the level of auditor oversight that they have come to expect in Canada. Certain countries, including China, continue to prevent CPAB from inspecting the audit work of Canadian public companies conducted in their jurisdictions.

We’ve made good progress working with Canadian securities regulators to amend legislation to improve this level of access, and most audit firms cooperate where we need access to working papers outside of Canada. While discussions are ongoing, we have yet to obtain access in China.

RESOURCES


> International Matters
13/01/2022
Access to Foreign Jurisdictions (2022)
> International Matters
13/01/2022
Guidance regarding CPAB’s process for requirements in NI 52-108 related to access to working papers of significant component auditors in foreign jurisdictions
> International Matters
30/03/2021
Access to Foreign Jurisdictions (2021)

THE CANADIAN PUBLIC ACCOUNTABILITY BOARD

The Canadian Public Accountability Board (CPAB) is Canada’s independent, public accounting firm regulator. Charged with overseeing audits performed by registered public accounting firms, CPAB contributes to public confidence in the integrity of financial reporting and is committed to protecting Canada’s investing public. CPAB promotes audit quality through proactive regulation, dialogue with domestic and international stakeholders, and practicable insights to inform capital market participants. CPAB has offices in Montreal, Toronto and Vancouver.

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