In recent years in Canada, rules and regulations for assurance engagements have been added to help increase investor condence. Which of the following is most likely true about the increased level of regulation for assurance engagements? a) The high level of regulation is intended to create a more consistent platform from which sound investment decisions can be made, and thus market regulation is used to remove the possibility of loss. 3) Rules and regulations help eliminate the expectations gap regarding what auditing does. 3) The purpose of public company financial information regulation is to reduce the risk that nancial information relied upon by investors may be misleading. 1) Increased regulation comes with an increasing cost, and it would be difcult to reach a point of diminishing returns for the increased costs