December Brings Job Losses

Posted by & filed under Auditing, Student life.

Description: Canada’s economy lost over 60,000 jobs in December. This was the first drop in employment Canada experienced since April, a month when the early days of the Covid crisis hit especially hard. The service sector – not surprisingly given the various public health restrictions – took the largest hit. Date:  January 8, 2021 Source: … Read more »

Plastics in the Pyrenees

Posted by & filed under Auditing, Sustainable Development.

Description: You may not have heard of micro plastics. These tiny bits – less than a fifth of an inch long – float around in the air of our major cities, cast off from the ubiquitous plastic we see daily. In an effort to find out how far these particles might drift, researchers visited snow… Read more »

More money for OAGNB

Posted by & filed under Accounting Careers, Auditing.

Description:    The Canadian Taxpayers Federation usually is not in the habit of praising a government for spending more money. This past week, however, the Federation did react positively to the news that the Office of the Auditor General of New Brunswick would be receiving an extra $1 million in its budget for 2019-20. This… Read more »

Do you like chocolate?

Posted by & filed under Auditing.

Description:  Do you like chocolate? Well a lot of the world sure does. There’s a bit of a crisis in the cocoa world these days though, according to Bloomberg. One of the big suppliers, Saf-Cacao of Ivory Coast, has become part of a total of 32 exporters who have defaulted on their supply agreements. KPMG… Read more »

Fraud charges in Antigonish

Posted by & filed under Auditing.

Description:  In Nova Scotia, the RCMP have now laid charges against James Edward Marlow, for allegedly misappropriating at least $243,000 from the Coady Institute. The Coady Institute, on the campus of St. Francis Xavier University in Antigonish, is known for its work in training for international development efforts. The fraud was detected by an auditor… Read more »

Fighting Corruption

Posted by & filed under Auditing, Corporate Governance.

Description: December 9 was International Anti-Corruption Day. The United Nations website tells us that each year $1 trillion is paid in bribes around the globe while thieves make off with $2.6 trillion stolen through various corrupt methods. These figures far outstrip the amount of development aid targeted to nations. Date: December 9, 2017 Source:… Read more »

Dropped calls, Pheonix falls

Posted by & filed under Auditing.

Description: Well, that’s one way to handle your backlog of calls: simply drop them. This past week the Auditor General of Canada reported his Office’s findings regarding the poor job that the Canada Revenue Agency does in handling calls from Canadian citizens. In addition, the report said that there is no quick fix in sight… Read more »

A distorted market ?

Posted by & filed under Auditing.

Description: New Brunswick forestry companies are being hit with a duty of almost 21% on softwood lumber exports to the United States following a decision by  the U.S. Commerce Department. It appears some parts of the forestry industry are blaming New Brunswick’s Auditor General for their misfortune, noting that the U.S. government relied on Kim… Read more »

Mr. Morneau’s place in Provence

Posted by & filed under Auditing, Ethics.

Description: Friday CBC revealed that Federal Finance Minister Bill Morneau waited two years before he disclosed his ownership stake in a company that owns a villa in Provence, France to the ethics commissioner.  A spokesperson for Mr. Morneau stated the oversight was simply the result of “early administrative confusion,” though CBC noted that the disclosure… Read more »

Atcon redux

Posted by & filed under Auditing, Ethics.

Description: For the second time, New Brunswick Auditor General Kim MacPherson has audited  a 2009 decision by the then Liberal government to grant over $60 million in loan guarantees to the construction company Atcon. When the floundering firm failed, the province’s citizens were on the hook for the millions in lost funds while the then… Read more »