MLAs looking for answers

Posted by & filed under Accounting Careers, Internal control.

Description:   Nova Scotia MLAs on the Public Accounts Committee were looking for answers this week in terms of what had gone wrong at the IWK Health Centre. Several months ago the former CEO and CFO of the region’s largest children’s hospital were charged for their handling of expense account issues. In further questioning, MLAs zeroed… Read more »

The Lavalin issue(s)

Posted by & filed under Ethics.

Description:    This past week, Parliament was dominated by just what Justin Trudeau may – or may not – have done to intervene in the so-called Lavalin affair. If we look at SNC-Lavalin’s recent history, however, we quickly realize the engineering firm is no stranger to controversy. The stakes are high in the charges it… Read more »

The other two teams at the Super Bowl

Posted by & filed under Accounting Theory.

Description:  While the Patriots and the Rams draw the focus for the Super Bowl in Atlanta, take a moment to consider another big contest that has been playing out all week: Coke versus Pepsi. Pepsi is an official Super Bowl sponsor, so it should normally get all the attention inside the zone surrounding the Super… Read more »

Surprising CRA survey

Posted by & filed under Ethics.

Description:  In what might be called an ethics survey of Canadian tax preparers, the Canada Revenue Agency has some surprising results. While about 60% do feel failing to report cash income is a serious issue, about half of those preparers don’t see much wrong about a charity giving an inflated tax receipt. Professor Ian Lee… Read more »

Tim’s magnate dies

Posted by & filed under Succession Planning.

Description:   Ron Joyce, the first franchisee of Tim Horton’s, and the man who helped grow the chain into a fast-food empire, has died. Joyce, a native of Tatamagouche, N.S., eventually sold Tim Horton’s to Wendy’s in the 1990s. He became well-known as a generous benefactor of various institutions. In a highly notable case, in memory… Read more »

That’s a pretty long wait

Posted by & filed under Financial Accounting.

Description:  The Province of New Brunswick is not rich. That’s perhaps one reason why the Auditor General focused some of her attention in her recent report on the fact that the federal government owes the province a pretty big pile of cash. All together, the federal government is on the hook for over $60 million… Read more »

That thin $200 line

Posted by & filed under Accounting Careers, Student life.

Description:  It’s a pretty thin line separating about half of Canadians from financial pain. CTV Winnipeg reported that close to half of Canadians are within $200 of insolvency when the end of the month rolls around. About 40% of Canadians foresee that they will be going deeper into debt this year to cover off their… Read more »

An Eyeopener!

Posted by & filed under Fraud.

Description:  It certainly was an eye opener! As reported in the Ryerson University student newspaper called the Eyeopener, the student union appears to have $250,000 in credit card charges that need some explaining. That’s a lot of money for student leaders to be charging. A number of students began asking questions, with one commenting that… Read more »

Take that Big Mac!

Posted by & filed under Financial Accounting.

Description:  The National Post headline called it a “bad day for McBully.” But you might also say, it was a good day for the little big guy, Ireland’s Supermac burger chain. Owner Pat McDonagh claims his restaurant’s Supermac burger name is lifted from a nickname he carried when he played Gaelic football years ago. The… Read more »