CPA Canada: Multiple Choice an independent body to develop and establish standards and guidance than govern financial accounting and reporting in Canada O is an examination of a company's financial statements by an independent auditor. O son entity that regulates issuance of securities in Ontario. has primary responsibility for setting the underlying rules of accounting in Canada CPA Canada: Multiple Choice an independent body to develop and establish standards and guidance than govern financial accounting and reporting in Canada O is an examination of a company's financial statements by an independent auditor. O son entity that regulates issuance of securities in Ontario. has primary responsibility for setting the underlying rules of accounting in Canada