Audit trends in Canada
A ten-year review of audit trends across the TSX and TSXV, FY2016 to FY2025
Canada has 2,173 companies listed on the Toronto Stock Exchange (TSX) or the TSX Venture Exchange (TSXV). The two exchanges operate distinct audit markets. This report analyzes auditor, fee and going concern trends across both since FY2016.
Our latest Ideagen Audit Analytics report explores how audit trends across Canada’s TSX and TSXV have evolved over the past decade.
Regional firms audit most TSXV companies
Regional and small firms audit most TSXV companies, while the Big Four audit 8.9%. Regional and small firms audited 890 TSXV companies in FY2016 and 1,140 in FY2025.
Auditor changes are more common on the TSXV
In FY2025, 10.5% of TSXV companies changed auditors, against 6.6% of TSX companies.
Going concern opinions are far more common on the TSXV
The TSXV going concern rate was 75.0% in FY2025, against 11.7% on the TSX.
The Big Four audit most TSX fee dollars
The Big Four collected 96.2% of TSX audit fees in FY2025. Their TSX client count fell from 702 companies in FY2016 to 558 in FY2025.
Audit trends in Canada
Download the full report to see the ten-year trends behind these findings.