Which body writes the accounting standards found in Part II of the CPA Canada Handbook?
Which body writes the accounting standards found in Part II of the CPA Canada Handbook?
Answer
The Accounting Standards Board (AcSB)
Options - A. The Accounting Standards Board (AcSB) - B. The International Accounting Standards Board (IASB) - C. The Accounting Standards Oversight Council (AcSOC) - D. CPA Canada, which funds it Why - A. Correct — ASPE is authored by the AcSB specifically for Canadian private enterprises. - B. The IASB issues IFRS, which sits in Part I; it writes nothing in Part II. - C. AcSOC appoints the AcSB’s members and oversees the process; it does not write standards. - D. CPA Canada funds and staffs the AcSB; it neither writes standards nor holds authority to issue them.
L1 §2.3