The EAQ initiative was a joint effort of Chartered Professional Accountants of Canada (CPA Canada) and the Canadian Public Accountability Board (CPAB) from April 2012 through April 2013. The mandate of the EAQ initiative was to gain stakeholder input on emerging issues with respect to enhancing audit quality globally, and the impact on Canada. The EAQ Steering Group provided direction and oversight to: The Role of the Audit Committee Working Group (ACWG) The Auditor Reporting Working Group (ARWG) The Auditor Independence Working Group (IWG) The EAQ Steering Group synthesized the analyses and conclusions from the discussion papers and conclusions of the three working groups, and arrived at final positions on these areas of focus: the role of audit committees in external auditor oversight the auditor reporting model auditor independence EAQ Steering Group Members Chair David A. Brown, C.M., Q.C. Counsel, Davies Ward Phillips & Vineberg LLP Toronto Members Phil Cowperthwaite, FCPA, FCA Partner, Cowperthwaite Mehta Toronto Janice Fukakusa, FCPA, FCA Chief Administrative Officer and Chief Financial Officer, Royal Bank of Canada Toronto Nick Le Pan Board Chair, Canadian Public Accountability Board Ottawa Alan MacGibbon, FCPA, FCA, CMC Global Managing Director, Deloitte Touche Tohmatsu Toronto William J. McFetridge, LLB, CPA, FCA Partner, Bull, Housser & Tupper LLP Vancouver Eileen Mercier, MBA, F.ICD Board Chair, Ontario Teachers’ Pension Plan Toronto Kathleen O’Neill, FCPA, FCA, ICD.D Independent Director Toronto David Smith, FCPA, FCA, ICD.D Chair, Audit & Actuarial Committee, Ontario Teachers’ Pension Plan Toronto Jim Sylph, FCPA, FCA, ICD Executive Director, Professional Standards and External Relations, International Federation of Accountants Toronto Observers Cameron McInnis, CPA, CA, CPA (Illinois) Canadian Securities Administrators Toronto Brian Hunt, FCPA, FCA Chief Executive Officer, Canadian Public Accountability Board Toronto Kevin Dancey, FCPA, FCA President and Chief Executive Officer, Chartered Professional Accountants of Canada Toronto This document was originally prepared by a legacy organization of CPA Canada.