The implementation of the Sarbanes-Oxley requirements in the U.S.resulted in the creation of the PCAOB to oversee listed companies' auditors and develop audit standards.The impact of this requirement in Canada was
A)the creation of new auditing standards to ensure better quality control for audits.
B)revision to the rules of professional conduct for CPAs.
C)additional training requirements for becoming an auditor.
D)the creation of the CPAB to oversee Canadian audit professionals.

Question

Quizplus · Accepted Answer

The implementation of Sarbanes-Oxley requirements in the U.S. led to the creation of the PCAOB to oversee and regulate the work of audit firms that audit publicly traded companies. In Canada, similar measures were implemented, resulting in the creation of the Canadian Public Accountability Board (CPAB) to oversee Canadian audit professionals and ensure compliance with high-quality auditing and ethical standards. Therefore, the best choice is D, the creation of the CPAB to oversee Canadian audit professionals.

The Implementation of the Sarbanes-Oxley Requirements in the U