There were 290 Canadian auditor departures in 2018, a 10% increase from the 264 in 2017. While the majority of departures continue to be from dismissals (80%), the percentage of resignations is the highest it has been in four years … Continue reading
Category Archives: Canada (SEDAR)
A Look Back at 2018
As 2018 comes to an end, let’s look back at some of our top posts and topics we’ve covered this year. Quarterly Updates The following posts are updated each quarter: IPOs: Auditor Market Share and Stats Auditor Changes Annual Updates … Continue reading
An Eleven Year Review of Canadian Audit Fees and Non-Audit Fees
In this analysis, we examined trends in Audit Fees and Non-Audit fees (calculated as sum of audit-related fees, tax fees and all other fees) disclosed by Canadian issuers that filed with SEDAR1. For Canadian companies, the compensation of the external … Continue reading
Auditor Changes in Canada: 2017
Auditor departures for public companies in Canada continue to decline, with 264 departures in 2017 compared with 284 in 2016 (2015: 318). Dismissals continue to comprise the bulk of auditor departures, with 231 (88%) dismissals and 33 (13%) resignations. National … Continue reading
Canadian Controls – What is Disclosed and What is Not?
Let’s pretend for a second that Sarbanes-Oxley Act of 2002 (SOX) does not exist; auditing requirements for controls are absent and legislation surrounding disclosures is significantly reduced. Would companies voluntarily report controls information? If so, how detailed would that information … Continue reading
Auditor Changes in Canada: 2016
Last year, there were 284 auditor departures (down from 318 in 2015) with the majority of auditor changes attributed to dismissals (85%) and the remaining 15% to resignations. The table below presents wins and losses for the Big Four and top … Continue reading
Auditor Changes in Canada: 2015
Audit fees for companies in Canada topped $1.6 billion in 2014, and the competition for those fees can be fierce. Last year, there were 318 total auditor departures, of which 81% were dismissals and 19% were auditor resignations. The estimated percentage of … Continue reading