DEREGULATION OF THE PRIVATE CORPORATION AUDIT IN CANADA: JUSTIFICATION, LOBBYING, AND OUTCOMES

We examine the deregulation of an audit requirement for a group of private Canadian companies. In particular, we study the circumstances surrounding this deregulation and the impact of the change in legislation on the subsequent purchase of audit services. The study was done through the examination of archival documents relating to the change to the legislation, together with a survey of Chief Financial Officers of companies that were affected by this change in legislation.