Which decision has Canada made with respect to financial reporting for small and medium sized enterprises?

Question

Quizplus · Accepted Answer

Canada has chosen to maintain and develop its own standards for private enterprises, separate from the IFRS standards used by publicly traded companies. This decision was made in order to better serve the needs of small and medium sized businesses, taking into account their unique characteristics and financial reporting requirements. Retaining its own standards also allows Canada to maintain its own regulatory framework for private businesses.

Which Decision Has Canada Made with Respect to Financial Reporting