The Implementation of the Sarbanes-Oxley Requirements in the U

question 42

Multiple Choice

The implementation of the Sarbanes-Oxley requirements in the U.S.resulted in increased independence requirements for auditors.The impact of this requirement in Canada was

• A)the creation of the CPAB to oversee Canadian audit professionals.
• B)revisions to the rules of professional conduct for CPAs.
• C)additional training requirements for becoming an auditor.
• D)modification of the type of opinion provided in an assurance engagement by an auditor.

---

Definitions:

Trade Embargo

A government-imposed ban on trade with a specified country or the exchange of specific goods, often used as a political sanction.

Gasoline Falls

Presumed to refer to a reduction in gasoline prices, though not a standard economic term.

Fuel-efficient Cars

Automobiles designed to use less fuel for the same distance traveled compared to standard vehicles, thus reducing operational costs and environmental impact.

Public Transportation

A system of vehicles such as buses and trains that operate at regular times on fixed routes and are used by the public.