A cross-Canada search is underway for candidates to serve as chair of the Canadian Public Accountability Board. A related search to fill the other seven board member positions will be concluded once the search for the chair is complete.

The CPAB is a new independent organization established to oversee auditors of public companies. The Council of Governors also includes the Chairs of the B.C. and Quebec securities commissions, the Superintendent of Financial Institutions Canada and the President and CEO of The Canadian Institute of Chartered Accountants.

“We are looking for an outstanding individual who is known for his or her integrity and impeccable professional history,” said David Brown, chairman of the Ontario Securities Commission and the chair of the Council of Governors of the CPAB “Canada’s public and private sectors have joined together in light of recent events to recognize and address critical issues of confidence and sound practices in the areas of governance, auditing and accounting. The Chair of the CPAB will play a key role in this effort to enhance investor confidence in Canada.”

The mission of the CPAB is to contribute to public confidence in the integrity of financial reporting of Canadian public companies by promoting high quality, independent auditing. The board members of the CPAB will ensure appropriate transparency in the conduct of its activities and oversee the design, implementation and enforcement of a system of independent oversight and inspection of auditors of Canada’s public companies.

Ideal candidates will be well-informed about current financial reporting and corporate governance issues and be a credible trustee and advocate for the public.

The Council of Governors also announced that it has retained Korn/Ferry International to assist in the search. Korn/Ferry will leverage its strong nation-wide network and global expertise to attract the highest calibre candidates.

Full details regarding the chair and board member positions will be available on Korn/Ferry’s Web site.