Bright Star Inc. (BSI) is a talent-management company that is preparing to go public. Peter, the CEO, recently learned that BSI and its auditor will be required to follow additional rules when it becomes public.
Peter met with the auditor to discuss the requirements.
In the meeting, Peter had the following questions:
Does Canada follow the same auditing standards as the United States? 
What is the process for the Auditing and Assurance Standards Board (AASB) when adopting an ISA for Canada? 
Is there oversight of the accounting profession? 

Required: Respond to each of Peter's questions regarding audit and assurance regulations in Canada.

Answer rating: 100% (QA)

Does Canada follow the same auditing standards as the United States No Canada does not follow the sa... View the full answer