Regulation 10-1 - Institute of Chartered Accountants of Ontario

REGULATIONS39. If an External Audit Practising Unit fails to:Amended November 27, 201439.1 continue to meet the standards for employment of Students;39.2 supply documentation or information within 30 days of a specific writtenrequest; or39.3 co-operate in any manner with an investigative procedure, the PracticeInspection Committee shall report the failure to the Director of PracticalExperience.Amended November 27, 2014Practice Inspection Committee40. The Practice Inspection Committee shall be comprised of seventeen (17)members, more or less, including a Chair, appointed by the Council. TheCommittee should be representative of the CPA Ontario’s membership bygeographic location and should be composed of:40.1 eight (8) members, more or less, from local firms;40.2 six (6) members, more or less, from national firms; and40.3 three (3) members, more or less, from regional firms.41. At least 75% of the members of the Practice Inspection Committee shall:41.1 be at the partner level (or equivalent);41.2 have been a Chartered Professional Accountant in good standing forgreater than 10 years; and41.3 hold a public accounting licence.42. Members of the Practice Inspection Committee shall be appointed for an initial oneyear term, and are eligible for reappointment for three additional three year terms.Thereafter, a Member is eligible for reappointment to the Committee only afterretiring from the Committee for at least a three year period.43. Notwithstanding section 50, the Chair of the Committee may serve up to twoadditional years as Chair, and is not thereafter eligible for reappointment asChair.44. Notwithstanding sections 50 and 51, any member, whose term of office wouldotherwise expire, shall remain a member of the Committee until such time as allpractice inspection decisions he or she is considering and any ancillary mattershave been concluded.45. The quorum for a meeting of the Practice Inspection Committee shall be amajority of its members.Regulation 10-110