CPAB was created in 2003 by the Canadian Securities Administrators, the Office of the Superintendent of Financial Institutions (Canada) and the Canadian Institute of Chartered Accountants as part of a series of reforms designed to improve investor confidence. CPAB's Council of Governors has the primary oversight role and is responsible, in particular, for appointing CPAB's Board of Directors and selecting the Board Chair and Vice Chair.
The Board of Directors has overall responsibility for supervising the management of CPAB's activities and affairs, and has established a Risk and Audit Committee and a Human Resources and Governance Committee as standing committees to support this oversight.
The Risk and Audit Committee assists the Board of Directors in fulfilling its obligations and oversight responsibilities related to financial budgeting and reporting, the system of corporate controls and the external audit. It also provides guidance and oversees CPAB’s activities and affairs related to risk management, including the identification and monitoring of key risks and the development of appropriate risk mitigation strategies.
The Human Resources and Governance Committee reviews and makes recommendations to the Board of Directors on matters of human resources, corporate governance, Board composition and succession, the formation and membership of committees, the objectives, performance and compensation of CPAB’s CEO and other officers, and the content and application of CPAB’s Codes of Ethics. It oversees the annual performance review of the Board of Directors, the Chair, and of any committees. It also provides guidance and oversight of CPAB’s talent management strategies.
CPAB has developed
Board and Committee Charters and
Codes of Ethics for Staff and Consultants and the Board of Directors to guide its operations. An independently operated
Whistleblower Hotline has been established to enable the anonymous reporting of matters relating to CPAB, its employees, the firms CPAB inspects, or Canadian reporting issuers.
Read our Statement of Accountability and Governance Practices.
Read our Articles of Continuance.