Toronto (Dec. 8, 2003)-- Over half of chief executives and chief financial officers in Canada support the need for a single global accounting standard, but many remain divided over the need to implement Sarbanes-Oxley-like reforms in that country.

In a survey conducted among more than 130 CEOs and CFOs by Costa Mesa, Calif.-based services firm Resources Connection and CAmagazine, the publication of the Canadian Institute of Chartered Accountants found that 58 percent of the respondents agreed on the need for a single set of global accounting standards based on the Sarbanes-Oxley Act.

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