Description: It was a big news week for Blackberry. First, the struggling technology company released a new handset called the Passport. Then, Blackberry announced its second quarter results. Although the company continues to lose money, its loss of 2 cents per share was considerably lower than the 16 cents per share anticipated by analysts. Source:… Read more »
Posts Categorized: Auditing
Ouch ! – Home Depot Latest to be Hit
Description: Home Depot appears to be the latest big-name retailer hit by hackers stealing credit card data. Estimates suggests this problem could affect up to 60 million account holders with a cost of up to $3 billion. Home Depot is offering a variety of services to help users who may have been hit in this… Read more »
What’s up with that cloud?
Cloud computing has seen a huge increase in popularity in recent years – even if we aren’t quite sure where the cloud is or what is going on there. The convenience of cloud computing, and rapidly dropping storage costs, have made it an attractive option for businesses. And with big name suppliers like Amazon and… Read more »
Conflict? What conflict?
From August 26th to 30th, Canada’s smallest province, Prince Edward Island, hosted the 55th annual conference of Canadian premiers. This gathering is sometimes also know as the Council of the Federation. During these sessions, the various premiers discuss issues of common interest, and they communicate with the public on the results of their deliberations through… Read more »
Refunds: why retailers are making it harder for you to get them
Returns fraud costs customers in terms of higher prices, more restrictive store policies Want your money back? Not so fast. Return policies are getting tighter as retailers try to protect themselves from returns fraud — and honest customers often pay the price. Not only that, but at many stores, policies are unevenly applied, a CBC… Read more »
Canadian’s firm used in huge Russian tax scandal, plus How the Rich hide their money!
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 »
Enhancing audit quality
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 »
Whistleblower forced investigation of TransCanada Pipelines
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 »
How Forensic Accountants Differ From Auditors
What is the role of Forensic Accountants: Forensic accountants are uniquely suited to help in-house counsel address issues involving financial reporting, accounting and internal controls. They also collect and analyze accounting and internal-controls evidence. They produce a fact-based report that can inform the decision-making process in inquiries, investigations and dispute resolution. By product of Forensic… Read more »
Going concern: When should the watchdog bark?
International accounting standards definition of Going Concern: ‘a going concern … will continue in operation for the foreseeable future … [and] … has neither the intention nor the need to liquidate or curtail materially the scale of its operations’ The purposes of the going concern assessment: To determine whether the financial statements give a true… Read more »