Who is responsible for developing financial statement audit and assurance standards in Canada?
A)AASB (Auditing and Assurance Standards Board)
B)standards staff at CPA Canada
C)provincial securities commissions
D)the accounting firms who conduct financial statement audits

Question

Quizplus · Accepted Answer

The Auditing and Assurance Standards Board (AASB) is responsible for developing financial statement audit and assurance standards in Canada. They are an independent body that operates under the Canadian Institute of Chartered Accountants (now known as Chartered Professional Accountants of Canada) and are responsible for setting auditing and assurance standards applicable to audits of financial statements in Canada.

Who Is Responsible for Developing Financial Statement Audit and Assurance