The New Brunswick Securities Commission (NBSC) has published a notice seeking comment on proposed recognition for auditor oversight body, the Canadian Public Accountability Board (CPAB).
The NBSC issued a notice Tuesday indicating that the CPAB, which oversees the auditors of Canadian issuers, has applied for recognition as an auditor oversight body under the province’s securities legislation. It also published a draft recognition order along with the notice.
The draft order sets out the terms and conditions of its proposed recognition, including that it comply with Ontario’s CPAB Act; that it discloses to the NBSC all issues arising from each annual assessment by the Ontario Securities Commission (OSC) of its annual report; and that it provides the regulator with 30 days’ advance notice of any proposed material changes to any of the information in its application.
The proposed order expires on July 31, 2014. Comments are due by December 5.