Canada auditors get new monitor

CANADA - Canadian securities regulators and accountants have formed a new body to address investors' lack of confidence in financial statements.

The Canadian Public Accountability Board, backed by federal and provincial regulators, the accountants' associations and the big accountancy firms that audit most public companies, plans to spend C$6m (£2.5m) a year monitoring public company audits, double the current amount.

Although no Canadian company had yet faced an accounting scandal of the type

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