Empowering Analytics through Change
Your organization likely uses one or more analytics tools – after all, measurement has been a primary focus for businesses during the last three years. However, analytics tools only provide data, and without significant attention on how to employ these tools, they often tend to provide very little value as a result.
In other words – it’s not just about gathering data; it’s about using the data, which is where the real value lies for analytics. To unlock the potential of analytics, you must select the right data fields and structure the relationships in those data fields.
Join Nicole Deschamps, Senior manager at Deloitte, as she explains how using analytics in an organization should not be a simple check-the-box type of exercise. Analytics has gained a lot of attention as an important business concept, but too many organizations stop at basic implementation.
IFRS®: Standards
AcSB Insurance Transition Resource Group Meeting Notes – February 2018
The topics discussed include the boundary of reinsurance contracts held, separation of insurance components in a single contract, insurance acquisition cash flows paid on an initially written contract, and the quantity of benefits for identifying coverage units.
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Securities: Disclosures
Non-GAAP Measures: A Roadmap for Audit Committees
The CAQ released a publication that provides a set of key considerations for audit committees, including leading practices, to assess whether a company’s non-GAAP metrics present a balanced representation of the company’s performance.
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CURRENT PROJECT UPDATES
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Basis for
Conclusions —
Accounting
Standards
Improvements for
NFPOs
The AcSB released three new Sections: (i) Section 4433,
Tangible Capital Assets Held by Not-For-Profit Organizations; (ii) Section 4434,
Intangible Assets Held By Not-For-Profit Organizations; and (iii) Section 4441,
Collections Held By Not-For-Profit Organizations. These Sections are effective for annual financial statements beginning on or after January 1, 2019.
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Basis for Conclusions – CSAE 3530 and CSAE 3531
The AASB released CSAE 3530,
Attestation Engagements to Report on Compliance, and CSAE 3531,
Direct Engagements to Report on Compliance, which replace Section 5800, Section 5815 and Section 8600. These Standards are effective when the practitioner's report is dated on or after April 1, 2019.
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GET INVOLVED
Help to shape future financial reporting standards by commenting on outstanding exposure drafts – find a list
here.
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