How Is Use of an Applicable Accounting Framework Enforced Via

Multiple Choice

How is use of an applicable accounting framework enforced via legislation?

A) The Canada Business Corporations Act and many provincial incorporating acts require that financial statements be prepared in accordance with GAAS as set out in the CPA Canada Handbook.
B) PAs who do not prepare financial statements in accordance with such frameworks are expelled from their professional association.
C) Tax authorities may sue corporations who do not prepare their financial statements in accordance with such frameworks.
D) Financial executives may be sued if the financial statements prepared by their company are not in conformance with such frameworks.