Canadian public corporations are required to prepare financial statements using: a) International Standards on Auditing developed by the International Federation of Accountants (IFAC). b) International Public Sector Accounting Standards (IPSAS) developed by the International Public Sector Accounting Standards Board (IPSASB). c) International Financial Standards (IFRS) developed by the International Accounting Standards Board (IASB). d) Generally Accepted Accounting Standards (GAAP) developed by the Canadian Accounting Standards Board (Acsb). e) Guidance and frameworks for financial reporting developed by the United Nations (UN)