Posts By: Gerry La Rocca

Canadian’s firm used in huge Russian tax scandal, plus How the Rich hide their money!

Posted by & filed under Auditing, Corporate Restructuring, Corporate Social Responsibility, Fraud Accounting, International Accounting, Taxation, Taxation & Planning, Uncategorized.

Caribbean agency helped set up offshore companies connected to $230M scam It’s a tale with the cloak-and-dagger intrigue of a Hollywood thriller: a $230-million heist, corrupt Russian police and government officials, prison beatings, a dead lawyer, Kafkaesque trials and a diplomatic spat between international superpowers. And now, for the first time, secret files obtained exclusively… Read more »

Highlights from the 2013 federal budget

Posted by & filed under Canadian Economy.

Federal Finance Minister Jim Flaherty tabled his 2013 budget Thursday. Here is a look at some of the highlights: Click to view Video :  Federal Budget  Federal Finance Minister Mr. Jim Flaherty         Highlights $900 million in new spending, no new taxes or tax cuts $400 million in revenue from closed tax… Read more »

Canada falling behind on women on corporate boards

Posted by & filed under Accounting Careers, Corporate Restructuring.

  Canada is falling behind other countries When it comes to putting women on corporate boards, according to a report by TD Economics. While participation in the labour force has increased significantly for women, that change has yet to be reflected at the top of Canada’s largest companies, according to the report. Women represent just… Read more »

Enhancing audit quality

Posted by & filed under Auditing, MD&A.

Financial Collapse Could auditors have prevented the failures of the 2008 financial collapse? A CICA/CPAB initiative analyzes proposals for an improved process Illustration: Michael Austin                 Does a corporate failure automatically mean there was an audit failure? This is the underlying question linking the proposals for enhancing audit… Read more »

Tax Planning Tips for Students year 2012

Posted by & filed under Taxation & Planning.

Tuition fees tax credit Tuition fees qualify for a non-refundable 15% federal tax credit for 2012 if you pay them for yourself. To be eligible for a credit, the fees must be paid to a Canadian university or college. Generally any fees you claim must total more than $100 per institution. Along with admission fees,… Read more »

Whistleblower forced investigation of TransCanada Pipelines

Posted by & filed under Accounting Careers, Auditing.

Engineer Evan Vokes repeatedly raised concerns with company behind Keystone XL pipeline  Whistleblower A former TransCanada engineer says he reported its substandard practices to the federal energy regulator because he believed the company’s management, right up to the chief executive officer, refused to act on his complaints. In an exclusive television interview with CBC News,… Read more »

Canada says good-bye to penny

Posted by & filed under Canadian Economy.

Good-Bye Penny! Effective February 4, 2013, the Canadian government will not distribute any more pennies and that may mean you may lose or earn a few pennies when making purchases in cash. Cost Benefit Analysis As part of the its Economic Action Plan 2012, the government announced that the Royal Canadian Mint will cease distribution… Read more »

Former SNC-Lavalin CEO arrested on fraud charges

Posted by & filed under Accounting Careers, Corporate Social Responsibility, Fraud, Fraud Accounting.

Anti-Corruption Squad Quebec’s anti-corruption squad has arrested former SNC-Lavalin CEO Pierre Duhaime, charging him and Riadh Ben Aissa, ex-head of the company’s construction arm, with fraud in connection with construction contracts for a Montreal super-hospital. Duhaime stepped down from SNC-Lavalin in March after an investigation revealed he signed off on $56 million in “improper payments,”… Read more »