moved for leave to introduce Bill C-448, an act to amend the Canada Business Corporations Act.
Mr. Speaker, I am pleased to introduce this private member's bill which seeks to amend the Canada Business Corporations Act to require the auditor to divulge to shareholders whether he or she is providing other, non-audit services to the same company.
This is an issue of increasing interest after the Enron scandal which was one of the factors in the collapse of Enron. We do not believe the auditor should provide non-audit services to the same company he or she is auditing. Bill C-448 would oblige the auditor to divulge in his or her annual report whether that was the practice.
(Motions deemed adopted, bill read the first time and printed)
(Bill C-42. On the Order: Government Orders:)
Second reading and reference to Standing Committee on Transport and Government Operations of Bill C-42, an act to amend certain acts of Canada, and to enact measures for implementing the Biological and Toxin Weapons Convention, in order to enhance public safety