Our Role
Who We Are
This webpage provides an overview of CPAB’s role and responsibilities. It is intended for general information only and is not an exhaustive description of all aspects of CPAB’s activities or mandate.
Protecting Canada's Investing Public
The Canadian Public Accountability Board (CPAB) is Canada's independent, public company audit regulator.
CPAB contributes to public confidence in the integrity of financial reporting through its oversight of audits performed by registered public accounting firms. CPAB is committed to transparency through the publication of individual firm public inspection reports and promotes audit quality through proactive regulation, dialogue with domestic and international stakeholders, and practicable insights to inform capital market participants.
Read our 2025-2027 Strategic Plan, Protecting Investors: Audit Regulation in an Evolving Environment.
For more information about CPAB and its role, please read the CPAB Backgrounder.
CPAB’s Focus and Scope
Governance and Authority
CPAB’s governing document, the Canadian Securities Administrators’ National Instrument - 52-108 Auditor Oversight, requires auditors of reporting issuers to be registered with CPAB as CPAB participants, and requires Canadian reporting issuers to issue financial statements audited only by CPAB participating firms.
For more information on CPAB’s governance practices and Rules, visit this webpage.
Select Examples of What We Do and Do Not Do
What We Do (Our Responsibilities)
✅ Evaluate the system of quality management of audit firms
✅ Inspect selected high-risk sections of audits of the annual financial statements of reporting issuers
✅ Monitor risks and changes that impact the state of audit quality and audit regulation
✅ Improve transparency and enhance public disclosures around CPAB's regulatory assessments
✅ Share audit practices, insights, and guidance with stakeholders through outreach, audit quality roundtables, publications, and comment letters
✅ Collaborate and coordinate with other regulators and standard setters, both nationally and internationally, to support effective oversight
What We Do Not Do
❌ Oversee audits other than those of public company financial statements—for example, audits of private companies, most pension plans, many public sector investment funds, and most debt offerings
❌ Set accounting or auditing standards
❌ License or deliver the education of CPAs
❌ Ensure reporting issuers' compliance with the provincial securities acts and national instruments
CPAB Vision
CPAB is a leading audit regulator that reinforces public confidence in Canada’s capital markets.
CPAB Mission
CPAB promotes audit quality through proactive regulatory oversight, facilitating dialogue with domestic and international stakeholders, and publishing practicable insights to inform capital market participants.
CPAB Core Values
Committed to serving the public
Team driven and inclusive
Innovative
Courageous
Corporate Responsibility & Community
Inspired by our core values to serve the public, be team driven and inclusive, innovate, and be courageous, CPAB is proud to support our communities where we live and work.
Community Matters:
CPAB cares about the health and well-being of our communities across the country. Our team members engage personally and professionally in a variety of activities that make our communities better places to live and CPAB is committed to supporting our people's passions, locally and nationally.
Through the Community Matters program, CPAB and our employees proudly contribute to community organizations across Canada that reflect our shared values and complement our mission. Our approach is driven by a spirit of collaboration and innovation and a desire to improve the circumstances of those in need.
CPAB’s support includes financial contributions and the volunteer efforts of our people. We provide employees with two paid days every year to volunteer their time to an organization of their choice and match their financial donations up to $200 annually.
Accessibility Plan:
In accordance with the Ontario with Disabilities ACT (ODA, 2001) and the Accessibility for Ontarians with Disabilities Act, 2005, (hereinafter referred as the AODA), CPAB has developed a multi-year (2023-2028) accessibility plan to improve equal access to employment, services, and activities at our organization.
CPAB strives to meet the needs of its employees and stakeholders by proactively identifying and removing any potential accessibility barriers for people with disabilities. The following plan outlines the steps that are being taken to meet those requirements.
The outlined plan is reviewed and updated at least once every five years.
Feedback about delivering services to people with disabilities is welcomed, as it may identify areas that require change and assist in continuous service improvement. Such feedback may be shared by telephone, in person by appointment, in writing, email, fax, text, or other means. CPAB will make best efforts to provide a response in the same format in which the feedback was received. For more information on how to provide feedback, please see the contact details within CPAB’s Multi-Year Accessibility Plan (2023-2028).
Contact Us
If you have questions about CPAB’s mandate or mission, you can contact us through one of the methods found on this webpage.