Posts Tagged: contemporary business issues

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 »

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 »

Managing the message: Canada’s new anti-spam law sets a high bar

Posted by & filed under Accounting Careers, Advanced Accounting, Canadian Economy, Corporate Restructuring.

Managing the message: Canada’s new anti-spam law sets a high bar New laws target electronic communications Canada’s Anti-Spam Law  (CASL), expected to come into force in 2013, will be one of the toughest of its kind in the world. Texts, tweets, Facebook posts and emails will all fall under its purview. In fact, CASL and… Read more »

Reducing tax complexity a key to economic recovery: CICA

Posted by & filed under Accounting Careers, Taxation & Planning.

Reducing tax complexity a key to economic recovery The Canadian Institute of Chartered Accountants (CICA) today (Oct. 23, 2012) in Ottawa outlined what it views as priorities for the next federal budget if the country is to experience economic growth, job creation and enhanced competitiveness. Gabe Hayos, the CICA’s vice-president of taxation, told the House… Read more »

MD&A (Management Discussion & Analysis)

Posted by & filed under Accounting Principles, Financial Accounting, Financial Statement Analysis, IFRS, MD&A.

MD&A (Management Discussion & Analysis) – Counterpart to or Distraction from Financial Reporting Introduction The MD&A  is an important component of a company’s reporting obligation. Intended to provide investors with more comprehensive information of financial outcomes, MD&A permits greater opportunity to present both short and long-term analysis. A study published by Contemporary Accounting Research indicated… Read more »

Going concern: When should the watchdog bark?

Posted by & filed under Accounting Principles, Advanced Accounting, Auditing, Financial Accounting, Financial Reporting and Analysis, IFRS.

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 »

A new CPA certification program ,effective May 16, 2012

Posted by & filed under Accounting Careers, CPA, Financial Accounting, IFRS.

A new CPA certification program Canada’s new chartered professional accountant (CPA) designation became a reality May 16, 2012, with the merger of Quebec’s CA, CMA and CGA bodies. To support CPA Quebec, and in preparation for anticipated merger developments in other parts of Canada, work on the proposed CPA certification program is getting underway. This… Read more »