The Liberal defense is that this is allowed under US accounting rules and that the Canadian rules are silent. Is that true? I infer from Lysyl's comments that it is. Most Canadian corporations report using US accounting rules due to stock interlisting. These differences are acceptable in the corporate world and do not justify the use of a pejorative term like "fraud".

The bigger question is that when the PCO condemns the Liberal policy do they commit to ending that policy. The PCO policy can not be both to condemn and to accept, and remain logically consistent. Of course political expediency makes all things possible for partisans. It should be noted, as we can see with Canadian accounting rules, silence is not a policy.