Which of the Following Describes Why Canada's Regulation Changes Following

Multiple Choice

Which of the following describes why Canada's regulation changes following the Enron scandal were less strict than those in the United States?

A) Canada has a national securities commission that can monitor firms more closely than the SEC in the United States.
B) The same scale of corporate fraud had yet to be experienced in Canada.
C) Canadian firms tend to have higher market capitalizations than U.S.firms,and the reporting costs of increased regulation place a greater burden on larger firms.
D) Canada has a much larger percentage of public firms with a controlling shareholder,and these firms require less oversight than firms without concentrated ownership.
E) Since Canadian firms report according to IFRS,their financial statements are likely to be more accurate.