Several initiatives have in fact been implemented since the events of 2000-2001, that is, since the Enron scandal and others in Quebec. At present, the existing processes are working well, even if they don't work entirely as might be hoped. However, one of the major standards that the profession has adopted is that it is independent, which is a national standard. The problem isn't a lack of standards. There are high standards that are recognized at the international level. Those standards come with a disciplinary process and professional oversight, which should be satisfactory.
Organizations such as the Canadian Public Accountability Board have been established to exercise oversight. The national bodies are reasonably comparable with the international bodies. What remains to be seen, in years to come, is whether those bodies are going to live up to their mandate.
We are having some problems in relation to the processes of the Canadian Public Accountability Board. We launched court challenges because we believe that the accounting profession exercises a little too much control over those processes. Time will tell whether it will work. A standard of independence has been adopted and the Canadian Public Accountability Board has been created. Investors should have assurance that the necessary mechanisms are in place.