The financial statements of a

company  must comply, or be prepared in

accordance with, generally accepted accounting practice.

Financial statements comply

with generally accepted accounting practice only if the statements

comply with applicable financial reporting standards or authoritative notice.

XRB must take reasonable steps to

consult the persons or representatives of persons who, in the opinion of the

Board, would be substantially affected by the issue of the standard, notice,

amendment, or revocation.

A specified entity must ensure

that an auditor of the specified entity has access at all times to the

accounting records and other documents of the specified entity