RE:RE:RE:RE:RE:RE:RE:RE:Question on financials reporting Companies choose a reporting framework and then they follow those Standards. They are not "laws" but theybhave to follow certain standards if they wish to be listed. A good example that they are not "laws" is that some of the stuff has to be reported differently for tax purposes....such as capital cost allowance for tax purposes for certain equipment for tax purposes are on a different basis that the ammortization and depreciation in the financial statements.