CPAB oversees auditors of Canadian reporting issuers — companies that have raised funds from the Canadian investing public and which, for that reason, must file financial statements with one or more provincial securities commissions. Under
Canadian Securities Administrators Rule 52-108, accounting firms that audit reporting issuers must participate in CPAB's oversight program.
CPAB contributes to public confidence in the integrity of financial reporting of public companies in Canada by effective regulation and by promoting quality, independent auditing. The primary way we assess the quality of audits is through the inspection of selected high-risk sections of audit files and six elements of quality control.
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