moved for leave to introduce Bill 479, an act to amend the Canada Business Corporations Act.
Mr. Speaker, the bill is very simple and straightforward. It simply seeks to limit the services that an auditor can provide to a business or a corporation. Many of us were very concerned after the Enron scandal that the auditing firm was providing other financial services to the same company and therefore putting itself in a conflict of interest.
This bill would limit through the Business Corporations Act the services that auditors can provide. If they were providing any other financial services for a period of two years, they would not be able to provide the audit for that company.
(Motions deemed adopted, bill read the first time and printed)