The Canadian Public Accountability Board (CPAB) has launched a public consultation on proposed changes to its current funding model.
Under the current model, CPAB invoices audit firms on a yearly basis, who in turn, bill their reporting issuer clients.
CPAB proposes to change the base on which the CPAB fee is determined from the “‘audit fees retained by the primary auditor’ as advised by the participating audit firm to ‘total audit fees billed to the RI’ as reported on SEDAR [System for Electronic Document Analysis and Retrieval]”.
The public consultation is open for comment until 28 July 2017, and the outline of the proposed changes is accessible here
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