Sarbanes Oxley & Similar Issues in Canada

In our recent Fall (Dec/2005) it was noted that one of the Key impacts of Sarbanes Oxley in Canada was the development of new audit “standards” that could apply to entities with SEC debt or reporting requirements.  This lead to the infamous “Public Company Accounting Oversight Board” and a series of standards, some of which deal with fraud, and reporting of fraud.  For more detail refer to the following links:

        Link to PCAOB

                 Standards (Home)                 Standard #1            Standard #2            Standard #3

 

Interestingly enough, a similar development has taken place in Canada with the creation of the a “Canadian Public Accountability Board”; and a series of “rules” for participating members:

        Link to CPAB                                Rules

 

CFE members interested in this topic should also look at the PowerPoint Presentation on SOX developed by Toby Bishop, CEO of our head office.  This can be found in the members area of the international website: www.acfe.com