Canadian public companies are required to use ______ that allow for easy comparison of financial statements from country to country.

Question

Quizplus · Accepted Answer

Canadian public companies are required to use International Financial Reporting Standards (IFRS) that allow for easy comparison of financial statements from country to country. IFRS are issued by the International Accounting Standards Board (IASB) and are used by companies in over 120 countries, including Canada. The other options, such as Accounting Standards for Private Enterprises (ASPE) and the Accounting Standards Board (ASB), are not applicable to public companies or do not have the same international scope as IFRS.

Canadian Public Companies Are Required to Use ______ That Allow