Unless we remain vigilant and rigorous in our efforts, we risk squandering the good work done so far. Second, while we must apply the same principles to all companies, they must be applied in ways that do not impose undue compliance costs, especially on smaller businesses.
Third, while our standards don’t have to be identical to those in other countries, they must be seen to be as effective. Canadian and U.S. capital markets are already highly integrated and Canadians (and Americans) have benefited greatly from these open, transparent, and competitive markets. Indeed, since world markets are increasingly integrated, there is a great benefit to having standards that are globally consistent.