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 »
Posts Categorized: Auditing
Auditors have their own day now?
Description: I took a second look this week when a tweet from the New Zealand Office of the Auditor General told me auditors now had their own day for pride in their profession – #AuditorProud .The Office had features on why various staff members took pride in their work, describing their feelings about the profession…. Read more »
AG to look into expenses
Description: The Nova Scotia Auditor General, Michael Pickup, has announced his office will be examining operations at the IWK Children’s Hospital in Halifax. The AG’s interest was piqued by a disclosure that former hospital CEO Tracy Kitch had a number of issues with her expense claims. This focus on high-ranking public officials reminded observers of… Read more »
More on those fictional renovations in NB
Description: Last week this blog discussed how the assessment service in Province of New Brunswick invented renovations for over 2,000 residential properties in the province, causing big increases in tax assessments. The Premier has responded to the growing crisis by appointing a retired appeal court justice to examine the system. Anonymous insiders have claimed that… Read more »
Costing election promises
Description: Critics and citizens alike have long decried the lofty election promises politicians make during election campaigns. But now the Liberal government of the tiny Canadian province of New Brunswick appears to be trying to change this dynamic by proposing a law requiring political parties to cost their election platforms. Violators would be punished by… Read more »
Quidi Vidi Brewery
Description: The Quidi Vidi Brewery is a good news/bad news story. After years of struggling, including a 1999 warning from their accountant about imminent bankruptcy, this Newfoundland craft brewery has seen a turnaround in more recent years, thanks in part to its Iceberg brand in its distinctive blue bottle. But the two founding investors are… Read more »
Suspicion on Bombardier
Description: It’s not the type of news any company wants. This past week Swedish authorities arrested one Bombardier employee and briefly detained two others over allegations of bribery. The suspicions are that somehow Bombardier employees colluded with Azerbaijani officials in an effort to secure contracts in Azerbaijan. Date: March 10, 2017 Source: montrealgazette.com Link: http://montrealgazette.com/business/bombardier-officials-arrested-in-sweden-report… Read more »
May I have the right envelope please?
Description: Accounting giant Price Waterhouse Coopers (PWC) took a big reputational hit at this past weekend’s Academy Awards. Millions saw it unfold on camera as somehow the PWC representatives delivered the wrong envelope for the best picture award. PWC has had a 83 year history of oversight of the awards process. It will be interesting… Read more »
Wondering about Deloitte and the Supreme Court
Description: On February 13, 2017, this blog featured a piece called “Every 20 Years or So.” It dealt with auditing firm Deloitte’s appeal of court decision that it pay roughly $85 million in damages related to their involvement in audit of the failed Livent enterprise. Well, if you read that blog post, you may know… Read more »
Every 20 years or so
Description: A lawyer friend of mine – who also happens to be a chartered accountant – has told me that roughly every 20 years or so, it seems that the Supreme Court of Canada deals with a case on auditor liability. Well, the 20 years must be up as on February 15, 2017, the Supreme… Read more »
Burnley Understanding Financial Accounting, 3rd Canadian Edition
Kimmel Financial Accounting, 8th Canadian Edition
Weygandt Accounting Principles, 9th Canadian Edition
Kimmel Survey of Accounting, 2nd Edition
Kieso Intermediate Accounting, 13th Canadian Edition
Weygandt Managerial Accounting, 6th Canadian Edition
Farmer Cost Accounting, 1st Edition
Savage Accounting Information Systems, 1st Edition