The Canadian Centre for Audit Quality (CCAQ) has analyzed public company audit committee disclosures for companies in the Toronto Stock Exchange 60 (TSX 60) Index. This publication highlights the various audit committee disclosures made in the annual Management Proxy Circulars (or Management Information Circulars) regarding how audit committees exercise their oversight responsibilities over the external auditor and overall audit quality, as well as how they communicate those oversight processes to investors and other stakeholders.
This publication covers the breadth and detail of disclosures by audit committees regarding their assessment of the performance of the external auditor, fee negotiations, and auditor independence, as well as whether the audit committee and broader board of directors possess the skill sets to address emerging issues, including artificial intelligence, sustainability trends, and cybersecurity threats. Additionally, this edition provides information on whistleblower protections among Canada’s top public companies and details regarding whether these companies have disclosed robust anti-money laundering or anti-terrorist financing regimes.
Please download the full report PDF below.