Review Proceedings and Expedited Hearings
CPAB’s review proceedings process provides the opportunity for an independent review of certain CPAB decisions.
Administrative review of CPAB’s decisions
Pursuant to Section 700 of the CPAB Rules, CPAB maintains a roster of independent review hearing officers who may preside over review proceedings. The review hearing officers and the roster Chair are appointed by CPAB’s Council of Governors[1] and are independent of CPAB.
After a firm, or an individual, petitions for a review proceeding, the Chair of the roster will appoint an independent panel of three review hearing officers to preside over the review proceeding. A bilingual panel will be appointed where, prior to the initial selection of the review panel, a party to the proceeding requests that it be conducted in French.
After the conclusion of the review proceeding, the decision and reasons of the review panel will be published on CPAB’s website in accordance with the circumstances set out in Rule 701.
Expedited hearings - CPAB may apply for interim powers
Notwithstanding that a petition for a review proceeding has been filed, in certain specified circumstances (see Rule 610) CPAB may seek interim relief to impose any of the requirements, restrictions or sanctions that are the subject of the review proceeding on an expedited basis, prior to the conclusion of the review proceeding. In such a case, the Chair of the roster will appoint a single hearing officer to hear CPAB’s expedited application. Prior to issuing the interim order, the hearing officer must consider any undue prejudice to the participating audit firm subject to the order, and must impair its rights as minimally as set out in Rule 611.
Roster of review hearing officers
There are eleven members on the roster of review hearing officers, and the Chair. Their expertise includes accounting, legal, and other professional experience from various Canadian jurisdictions:
- Chair of the roster of review hearing officers: Lawyer, Ontario.
- Review Hearing Officer 1: Accountant, Ontario.
- Review Hearing Officer 2: Lawyer, Ontario.
- Review Hearing Officer 3: Lawyer, Manitoba.
- Review Hearing Officer 4: Lawyer, Ontario.
- Review Hearing Officer 5: Accountant, Alberta.
- Review Hearing Officer 6: Engineer, Alberta.
- Review Hearing Officer 7: Accountant, Ontario.
- Review Hearing Officer 8: Accountant, Ontario (bilingual).
- Review Hearing Officer 9: Lawyer, British Columbia (bilingual).
- Review Hearing Officer 10: Accountant, British Columbia.
- Review Hearing Officer 11: Lawyer, British Columbia.
Petitioning for a review proceeding
A firm may petition for a review proceeding by filing Form A with the Hearings Coordinator.
During a review proceeding a firm may:
- Seek a review of CPAB’s proposal not to invite an applicant firm to become a participating audit firm (see Rule 209).
- Seek a review of CPAB's proposal to publish information regarding the participating audit firm (see Rule 416).
- Seek a review of CPAB’s proposal to impose enforcement actions on a participating audit firm (see Rule 603).
CPAB Rules 701 through 720 detail the powers of the review panel and the review hearing process. In accordance with the CPAB Rules, the review panel determines its own procedures and practices – see the Procedures and Practices.
- The Superintendent of Financial Institutions of Canada;
- The Chair of the Ontario Securities Commission (OSC);
- The Chair of the Autorité des marchés financiers of Quebec (AMF);
- The Chair of the Canadian Securities Administrators (CSA), unless that individual is already the Chair of the OSC or the AMF, in which case the CSA shall select the fourth governor;
- A fifth governor selected by the CSA; and
- A person who is a professional accountant and has audit oversight regulatory experience.