Description: The US Securities and Exchange Commission (SEC) is conducting an investigation into the way Exxon has been accounting for its oil reserves. The SEC – plus a number of state authorities – have been posing questions as to why Exxon has not joined other oil and gas producers in writing down the value of… Read more »
Posts Categorized: Auditing
#AuditorProud?
Description: In our world of hashtags galore, perhaps this one took you by surprise: #AuditorProud. It’s an effort to attract more people to the accounting profession and show the role of the auditor in capital markets. This is the second such #AuditorProud day, sponsored by the Centre for Audit Quality – an organization associated with… Read more »
Sino-Forest failings
Description: The case against Sino-Forest Corp, the forestry company with the missing forests, is winding down more than a year and a half after it started. The founder of the company was accused of “gross breach of trust” for misleading investors. A board committee looking into the company’s disclosures has been unable to find the… Read more »
Duffy not guilty
Description: It would have been hard to miss it, the news of Senator Mike Duffy’s acquittal on all 31 criminal charges he faced for his role in the Senate expense controversy of recent years. The trial judge said Senator Duffy may have made various administrative errors in his expense claims, but there was nothing of… Read more »
Auditing climate change
Description: Canada’s provincial and federal auditors general are joining forces to take on a nation-wide audit of climate change actions in 2017. Julie Gelfand, the federal commissioner of the environment and sustainable development, whose office is included inside the Office of the Auditor General of Canada, announced the joint audit on Thursday. It will be… Read more »
TD Bank sued in Ponzi scheme
Description: TD Bank is being sued in Ontario Superior Court for $5.5 billion for its role in correspondent banking for the Stanford International Bank. Stanford’s founder, Allen Stanford, is serving a 110 year prison sentence for leading a fraud that removed $5.5 billion from the pockets of over 20,000 investors. The claim filed against TD,… Read more »
Is it too small to measure?
Description: The Ontario government has delivered close to $1.5 billion in support to business since 2004. But Ontario Auditor General Bonnie Lysyk revealed last week that the government can’t tell its citizens whether or not all this funding has produced jobs or economic growth. The province’s minister responsible for the economic development portfolio countered that… Read more »
How’s your power bill?
Description: Consumers are not fond of rising power bills. But how would you feel if you were an electricity consumer last week when provincial Auditor General Bonnie Lysyk reported that citizens of Ontario paid $37 billion in excess of market prices over an eight year period. That’s billion with a “B” folks. It comes at… Read more »
Watching the watchdogs
Description: The Province of New Brunswick certainly seems to have its share of fiscal challenges, after having run deficits for several years. Last week the Province began looking at another cost-cutting measure: reducing the number of independent legislative officers. Legislative officers include the Auditor General and the Ombudsman. New Brunswick has nine of these officers… Read more »
Tracking down the secret payments
Description: Grabbing much attention in the Ontario media in recent days has been the ongoing discussion about secret payments by the Ontario government to the province’s teachers’ unions. During negotiations, the government paid approximately $3.7 million to the unions to cover various administrative costs associated with the negotiations. This week a legislative committee in Ontario… 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