ACC 333 Lecture Notes - Lecture 13: Canada Business Corporations Act, Standard Accounting Practice, Financial Audit
Document Summary
The cpa canada handbook codifies as recommendations, the standards associated with several acceptable financial reporting frameworks (such as aspe and ifrs), and generally accepted auditing standards (gaas). In addition, the handbook includes accounting guidelines and assurance and related services guidelines. The guidelines are either interpretations of the recommendations, or a statement on a matter of concern. The cpab provides quality assurance of the financial statement audit of public. 2-8 companies, by assessing the work of pas conducting such audits. Firms who perform public company audits must register with the cpab and be subject to quality control assessment by the. 2-10 generally accepted auditing standards are general guidelines to aid auditors in fulfilling their professional responsibilities. Generally accepted accounting principles are specific rules for accounting for transactions occurring in a business enterprise that relate to a particular financial reporting framework, such as aspe or ifrs.