The CPAB plan will focus on introducing changes that will improve the consistency of audits across the country. Credit: PanuShot/Shutterstock.

The Canadian Public Accountability Board (CPAB), an independent audit regulator, has secured approval from its Board of Directors for a new three-year strategic plan.

This plan is titled Strategic Plan 2025-2027 – Protecting Investors: Audit Regulation in a Changing Environment.

It sets out the forthcoming actions in CPAB’s commitment to bolstering investor protection and introducing changes that will enhance audits’ consistency across Canada.

Through 2025-2027, CPAB will focus on four strategic objectives including, evolving audit oversight in a changing environment, and putting investors first – raising the bar for audit ethics, culture and governance.

It will also focus on fostering an environment that supports better audit quality at smaller firms, as well as work to enhance its regulatory toolkit – improving transparency and strengthening consequences.

CPAB CEO Carol Paradine said: “CPAB’s 2025-2027 strategic plan continues a journey of protecting investors in a changing environment.

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“New technologies, fostering an environment that supports innovation and entrepreneurialism, and the need to evolve our regulatory toolkit to keep pace with these changes are key drivers behind our strategic objectives.

“CPAB’s staff and board are committed to doing our part to foster a strong, resilient audit profession. Through our 2025-2027 strategic plan, we will continue our aim to strengthen investor protection and implement changes that improve the consistency of audits performed in accordance with Canadian and international standards.”