The most authoritative requirements for public accountants performing financial statement audits in Canada are the
A) standards used by the client.
B) industry specific standards.
C) CPA Canada handbook requirements.
D) assurance guidelines.

Question

Quizplus · Accepted Answer

CPA Canada handbook requirements are the most authoritative requirements for public accountants performing financial statement audits in Canada. These requirements are developed by the Chartered Professional Accountants of Canada and are recognized as the authoritative standards for performance of assurance engagements in Canada. Industry specific standards and assurance guidelines may provide guidance, but they do not replace the requirements outlined in the CPA Canada handbook. The client's standards may also be a consideration, but they do not have the same authority as CPA Canada handbook requirements.

The Most Authoritative Requirements for Public Accountants Performing Financial Statement