Document background
The Audit BCP serves as a crucial document for organizations operating in Canada that need to ensure the continuity of their audit functions during disruptions or emergencies. This document is essential for maintaining compliance with Canadian regulatory requirements, including OSFI guidelines, CPAB standards, and provincial securities regulations. The Audit BCP covers key areas such as risk assessment, recovery procedures, communication protocols, and testing requirements, while incorporating specific Canadian legal and regulatory considerations. It is particularly important for organizations subject to regulatory oversight, public companies, and those requiring maintained audit capabilities during adverse conditions. The document provides a structured approach to identifying critical audit functions, establishing recovery time objectives, and ensuring the availability of necessary resources to maintain audit operations during disruptive events.
