... Canadian auditing standards and professional ethics Sources: D Searcey and A Efrati, “Sins and admission: getting into top prisons,” The Wall Street Journal: Europe 17–19, July 2009, p 29; C Bray and ... Ponzi scheme and the current (at the time you write your report) state of the legal action against him (b) Friehling was subject to U.S auditing standards and legislation Explain if, and how, Friehling’s ... by a shareholder of the company As both the International Financial Reporting Standards (IFRS) and the Accounting Standards for Private Enterprises (ASPE) include specific reporting requirements...