It's not the role of federal legislation to set professional ethical standards. That's a role that's been assigned by provincial statute to provincial and territorial regulatory bodies and professional associations.
It's a good attempt to do it, and it's important to recognize that auditors have to be independent of the corporation, but you're putting criteria in there that are captured in a larger independence standard. The downside is that over time, those criteria may change. It will become more rigorous, and the legislation will be out of date. But if you refer it to the professional bodies, a professional body's responsibility is to ensure that it is current, and they're the people who are mandated to be doing that.