Description: Red tape continues to be a problem in Canadian jurisdictions. Perhaps the most humorous is a requirement in Quebec to post a notice to tell employees you are about to post a notice. This is among the finalists for Paperweight Award, an annual ‘competition’ sponsored by the Canadian Federation of Independent Businesses to highlight how government intervention in commerce can weigh down business activity. Other finalists include a two-page form for a lemonade stand and the New Brunswick government’s pursuit of Gerard Comeau all the way to the Supreme Court of Canada to try and overturn previous court victories Comeau had won in his attempt to bring more than 12 beer across the Quebec border and back to his New Brunswick home.
Date: January 18, 2018
1) Have you ever run into government red tape that you could nominate for the Paperweight Award?
2) How could you calculate the cost of a regulation on a business?
3) In Section 1.7 of Wiley’s Auditing: A Practical Approach you can read about various types of regulation over the auditing profession in Canada. What impact do these regulators have on the audit process and the cost of audit services?