Which of the following is true about the standards for publicly accountable enterprises in the CICA Handbook, Part I?
A)The standards are similar to U.S. GAAP.
B)The standards are adaptations of IFRS that have been tailored to Canadian circumstances.
C)The standards are similar to ASPE.
D)The standards are identical, word for word, to IFRS.

Question

Quizplus · Accepted Answer

The standards for publicly accountable enterprises in the CICA Handbook, Part I, are identical to IFRS, as Canada has adopted IFRS for publicly accountable enterprises without modifications.

Which of the Following Is True About the Standards for Publicly