(September 9 – 09:25 ET) – The Certified General Accountants Association of Canada is calling for Canada to move to the accounting standards set by the International Accounting Standards Committee. It’s also taking a shot at the Canadian Institute of Chartered Accountants.

A new report from CGA Canada recommends the country should ditch its own standards and adopt the IASC’s proposed standards in response to the ongoing globalization of the business world.

CGA Canada argues that a move to IASC standards would increase the credibility of Canadian corporate financial statements, thereby helping to attract foreign investors.



CGA Canada also says that the current standard-setting process in Canada – currently run by the CICA – needs to be broadened to include input from investors, consumer advocacy groups and others.


-IE Staff



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