The implementation of the Sarbanes-Oxley requirements in the U.S.resulted in increased independence requirements for auditors.The impact of this requirement in Canada was
A)the creation of the CPAB to oversee Canadian audit professionals.
B)revisions to the rules of professional conduct for CPAs.
C)additional training requirements for becoming an auditor.
D)modification of the type of opinion provided in an assurance engagement by an auditor.

Question

Quizplus · Accepted Answer

The implementation of the Sarbanes-Oxley requirements in the U.S. prompted Canada to create the Canadian Public Accountability Board (CPAB) in 2003. The CPAB was established to oversee the work of audit professionals and ensure their independence, among other things. Therefore, choice A best aligns with the impact of the Sarbanes-Oxley requirements in Canada.

The Implementation of the Sarbanes-Oxley Requirements in the U