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Beyond compliance – Promoting excellence in financial reporting
  • IFRS - IASB Image
  • IASB posts webcast on IFRS 9 forward-looking information

    Jul 25, 2016

    On July 25, 2016, the International Accounting Standards Board (IASB) released a webcast discussing forward-looking information in the application of the expected credit loss impairment requirements in IFRS 9.

  • IFRS - IASB Image
  • IASB updates work plan

    Jul 20, 2016

    On July 20, 2016, the International Accounting Standards Board (IASB) released its updated work plan.

  • IESBA (International Ethics Standards Board for Accountants) (lt gray) Image
  • IESBA Redefines Accountants’ Ethical Role When Laws and Regulations Broken

    Jul 14, 2016

    On July 14, 2016, the International Ethics Standards Board for Accountants (IESBA) released a new standard, Responding to Non-Compliance with Laws and Regulations. The standard sets out a first-of-its-kind framework to guide professional accountants in what actions to take in the public interest when they become aware of a potential illegal act, known as non-compliance with laws and regulations, or NOCLAR, committed by a client or employer.

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    Securities - IOSCO Image
  • New Chair of the IFRS Foundation Monitoring Board

    Jul 13, 2016

    On July 13, 2016, the IFRS Foundation Monitoring Board has announced that Masamichi Kono has stepped down as Chair of the Monitoring Board. The Monitoring Board is responsible for the oversight of the IFRS Foundation.

  • IFRS - ICAEW Image
  • Study finds it is "unrealistic to expect financial reporting around the world to be completely comparable"

    Jul 08, 2016

    On July 8, 2016, the Financial Reporting Faculty of the Institute of Chartered Accountants in England and Wales (ICAEW) published a paper on "Incentives and institutions in accounting: thinking beyond standards" that looks into the principal factors that affect financial reporting outcomes and the degree to which these are the product of the surrounding institutions and on the incentives that affect individual firms and their managers.

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  • Effective anti-fraud and anti-corruption programs – July 2016 Image
  • Effective anti-fraud and anti-corruption programs – July 2016

    published Jul 19, 2016

    David Doyle, chief compliance officer Starwood Hotels & Resorts Worldwide, Anthony Campanelli, Partner, Deloitte Financial Advisory Services in the United States, and Kris Wentzel, Partner, Enterprise Risk Services, Deloitte Canada, discuss mitigating fraud risks and the importance of an effective whistleblower program. Today, when the typical organization loses five percent of its revenues to fraud and corruption each year, and regulators are taking an increasingly aggressive stance in enforcing anti-corruption laws, directors may be found personally liable if they are found to be less than diligent in carrying out their responsibilities for ensuring that management puts in place effective anti-fraud and anti-corruption programs and controls

  • Illustrative IFRS financial statements for Investment Funds 2015 Image
  • Illustrative IFRS financial statements for Investment Funds 2015

    published Jun 30, 2016

    This publication illustrates the presentation and disclosure requirements of IFRS for investment funds. It includes standards applicable (without early adoption) as of December 31, 2015. It also contains additional disclosures that are considered to be best industry practice, particularly where such disclosures are included in illustrative examples provided with a specific standard.

  • FRI thumbnail 2016 Image
  • Financial Reporting Insights - June 2016

    published Jun 23, 2016

    During the first half of 2016, we saw a renewed focus on non-Generally Accepted Accounting Principle (non-GAAP) financial measure disclosures by securities regulators on both sides of the border, as well as globally. In our CFO’s corner series, Alexia Donoghue from our National Securities group explores what this means for Canadian reporting issuers, and highlights what regulators in other jurisdictions are doing to address these non-GAAP financial measures.

  • Audit data analytics alert: Keeping up with the pace of change Image
  • Audit data analytics alert: Keeping up with the pace of change

    published Jun 21, 2016

    This Audit Data Analytics Alert (Alert) is being issued to raise awareness about data analytics in the context of the audit of financial statements. This Alert serves to explain the term audit data analytics and highlight the drivers/opportunities, and hurdles to overcome in regard to integrating more extensive use of data analytics into the audit of the financial statements.

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  • IFRS 15 - Revenue from Contracts with Customers

    published Jun 14, 2016

    In this webcast our panel of experts will discuss the recently issued amendments to the IFRS15 revenue standard and provide greater clarity on the potential impacts, effects, and some key considerations that will assist your organization as you work through implementation.

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