moved for leave to introduce Bill C-317, An Act to amend the Canada Business Corporations Act (qualification of auditor).
Mr. Speaker, I am pleased to introduce the bill regarding the Canada Business Corporations Act dealing with the independence of the auditors.
White collar crime is very much a blue collar issue and we must be able to trust the financial statements of the companies where our pension plans are invested.
The bill would state that if one is the auditor for a company one should not be selling any other financial services to that same company. In other words, one should not be auditing one's own work. In this way people would have more confidence in the financial statements of the companies where our union plans and so on invest.
(Motions deemed adopted, bill read the first time and printed)