CPAB Considers New Funding Model
May 30, 2017
In May 2017, the Canadian Public Accountability Board (CPAB) announced that it is considering changing its current fee model to one based on audit fees publicly reported on SEDAR. As Canada’s audit regulator, CPAB derives their operating budget form Canadian reporting issuers.
Each year, they invoice the participating audit firm which, in turn, bills their reporting issuer clients. In reviewing the model they questioned whether it is equitable across all reporting issuers. They concluded that it is not in today’s complex global audit environment.
They are currently conducting a public consultation period for stakeholder input. They are open to constructive suggestions and welcome comments until July 28, comments will be posted on their website.
Review the announcement on the CPAB's website.