The critical roles of audit committees in overseeing the external auditor and in contributing to audit quality and integrity of financial reporting have been restrained by the failure of the Canadian Public Accountability Board (CPAB) to permit the disclosure of its inspection findings of external auditors to audit committees. Audit committees should have the legal right to receive CPAB’s inspection findings from their external audit firms in order effectively to oversee their external auditors and to evaluate the quality of the audit of their financial statements.

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