Instead of completing the Quality Control Report, can we provide CPAB with the report we have drafted for filing with the PCAOB in the United States or another audit regulator?
The quality control report prepared for other bodies is not sufficient for CPAB purposes. CPAB wishes to understand how the firm controls quality with respect to each element of quality set out in the Canadian standards, and the Quality Control Report template reflects that structure. A quality control report already drafted for the purposes of other regulators would not be organized in the same way, nor would it necessarily cover all of the elements of quality. • The Intent to Participate form requires information about each of the firm’s practice offices and the Initial Registration form is expected to require the names of individuals authorized to sign audit reports on the financial statements of reporting issuers, and the names of reporting issuer audit clients. How current does this information have to be? CPAB expects that the information will be as current as possible and in any event current as of a date not more than 90 days prior to the date when it is submitted to CPAB. Fore
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