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Beyond Compliance – Promoting Excellence in Financial Reporting in Canada
  • IFRS - IASB Image

  • IASB Chair says Trustees are "considering" sustainability reporting

    Sep 28, 2020

    On September 28, 2020, the International Accounting Standards Board (IASB) released a speech by Chairman Hans Hoogervorst given at the IFRS Foundation Virtual Conference, where he talked spoke about sustainability reporting and how "traditional" financial reporting can help to make climate-related financial issues more visible.

  • IFRS - IASB Image

  • IASB issues "Investor Update" newsletter

    Sep 23, 2020

    On September 23, 2020, the International Accounting Standards Board (IASB) issued the latest edition of its newsletter "Investor Update", which profiles recently introduced IFRS Standards and other changes to the pipeline as well as how those changes may affect companies and performance.

  • ASPE_AcSB Image

  • AcSB Exposure Draft – Leases

    Sep 18, 2020

    On September 18, 2020, the Accounting Standards Board (AcSB) released an exposure draft and seeks feedback on its proposals to provide relief for both lessees and lessors on accounting for lease modifications received or granted as a result of the COVID-19 pandemic. These proposals apply to private enterprises and NFPOs applying Parts II and III of the CPA Canada Handbook – Accounting. Comments are requested by October 2, 2020.

  • IAASB - Assurance Image

  • IAASB seeks feedback on fraud, going concern in financial statement audits

    Sep 15, 2020

    On September 15, 2020, the International Auditing and Assurance Standards Board (IAASB) opened a public consultation, "Fraud and Going Concern in an Audit of Financial Statements: Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial Statement Audit". Comments are requested by January 12, 2021.

  • PSAS - PSAB Image

  • Basis for Conclusions – PSAB International Strategy

    Sep 15, 2020

    On September 15, 2020, the Public Sector Accounting Board (PSAB) released the Basis for Conclusion, which sets out how PSAB reached its decision to pursue "Option 2: Adapt IPSAS principles when developing future standards" as its future International Strategy.

  • Leaf - sustainability (green) Image

  • Towards comprehensive corporate reporting

    Sep 11, 2020

    On September 11, 2020, five internationally significant framework- and standard-setting institutions (CDP, CDSB, GRI, IIRC, and SASB) have published a statement of intent to work together towards a comprehensive corporate reporting system.

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  • 2020 Transparency Report Image

  • 2020 Transparency Report

    published Sep 30, 2020

    The Deloitte Canada Transparency report provides an overview of our legal structure, governance, ethical and independence principles, and quality control procedures. It also outlines the actions we’ve put in place as part of our efforts to continually advance audit quality and support our commitment to leading the profession

  • Directors’ Guide 2020/21 Image

  • The directors' guide 2020/21 - Corporate governance

    published Sep 22, 2020

    This guide provides board members with a comprehensive all-in-one toolkit that brings recent developments, perspectives, questions to ask, best practices, and interactive tools all together to aid in fulfilling your oversight role.

  • Business Roundtable: Market-based solutions best approach to combat climate change Image

  • Business Roundtable: Market-based solutions best approach to combat climate change

    published Sep 16, 2020

    Business Roundtable released new principles and policies to address climate change, including the use of a market-based strategy that includes a price on carbon where feasible and effective. Such a strategy would incentivize the development and deployment of breakthrough technologies needed to reduce greenhouse gas (GHG) emissions.

  • Global audit committee survey – Internal audit: Soaring through turbulent times Image

  • Global audit committee survey – Internal audit: Soaring through turbulent times

    published Sep 15, 2020

    Our 2020 survey focused on board and audit committee members, with senior Deloitte partners conducting 1-on-1 interviews to address a formal series of questions as well as engaging in free-ranging discussions. The survey collected insights from more than 60 board members, audit committee chairs, and audit committee members representing more than 140 companies (many members sit on more than one board or committee), from 20 countries in every region, including every major industry sector. We canvassed both Fortune 500 companies and smaller organizations, those with innovative internal audit groups and those with more-traditional functions.

  • ASPE Accounting Considerations related to COVID-19 Image

  • ASPE Accounting Considerations related to COVID-19

    published Sep 08, 2020

    Are you thinking about the impact that COVID-19 might have on your private company’s ASPE financial statements? This publication discusses certain key ASPE accounting considerations related to conditions that may result from the COVID-19 pandemic. The topics in the publication include: measurement uncertainty, going concern, subsequent events, impairment, covenant violations, debt modifications, revenue recognition, government assistance, leases and restructuring activities, just to name a few.

  • Corporate Governance 4.0: The forward-looking board of directors Image

  • Corporate Governance 4.0: The forward-looking board of directors

    published Sep 01, 2020

    Each day board members face an increasingly volatile, uncertain, complex and ambiguous world. To successfully navigate sometimes dramatic economic changes and crises, boards must remain resilient and forward-looking. This white paper, presented by the Swiss Board Institute and Deloitte, provides a set of guiding principles for boards, focusing on the role of the future-oriented board, the chairman and the CEO, and also includes a view on the auditor of the future and auditing’s relevance for the board.

  • Accounting for and auditing of digital assets Image

  • Accounting for and auditing of digital assets

    published Sep 01, 2020

    The objective of this practice aid is to develop nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively. This guidance is intended for financial statement preparers and auditors with a fundamental knowledge of blockchain technology. For the purposes of this practice aid, digital assets are defined broadly as digital records that are made using cryptography for verification and security purposes, on a distributed ledger (referred to as a blockchain). The distributed ledger keeps a record of all transactions on a blockchain network. Digital assets, as defined herein, may be characterized by their ability to be used for a variety of purposes, including as a medium of exchange, as a representation to provide or access goods or services, or as a financing vehicle, such as a security, among other uses.

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