Beyond Compliance – Promoting Excellence in Financial Reporting in Canada
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  • Recording of the fireside chat featuring the IASB Chair and the FASB Chair

    Feb 08, 2023

    In November 2022, the IASB, FASB and "The Accounting Review" hosted an academic conference "Accounting for an ever-changing world". As part of the conference, Mary Barth, Vice-Chair of the US Financial Accounting Foundation, hosted a fireside chat with IASB Chair Andreas Barckow and FASB Chair Rich Jones.

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  • ISSB webinar series — recordings available

    Feb 08, 2023

    In January and February 2023, the International Sustainability Standards Board (ISSB) offered a series of three webinars that showed how companies can start the ground work, data gathering and processes for ISSB reporting by using tools already widely available for businesses and investors.

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  • IAASB New Technology-Focused FAQ

    Feb 08, 2023

    On February 8, 2023, the Technology Consultation Group of the International Auditing and Assurance Standards Board (IAASB) released non-authoritative support material to help address certain frequently asked questions about investigating exceptions and the concept of performance materiality when performing audit procedures using automated tools & techniques (ATT).

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  • AASB: Revised JPS concerning communications between Auditors and Actuaries approved

    Feb 01, 2023

    On February 1, 2023, the Au­dit­ing and As­sur­ance Stan­dards Board (AASB) announced that the revised Joint Policy Statement (JPS), effective for communications between the auditor and the actuary involved in the preparation of financial statements that are initiated on or after March 31, 2023, has been approved by both the Canadian Actuarial Standards Board and by the AASB. Early application is permitted.

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  • Updated IASB and ISSB work plan — Analysis (January 2023)

    Jan 30, 2023

    Following the IASB's and ISSB's January 2023 meetings, we have analyzed the work plan on the IFRS Foun­da­tion website to see what changes have resulted from the meetings and other de­vel­op­ments since the work plan was last revised in December 2022.

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  • IAASB Opens Consultation on Less Complex Group Audits

    Jan 24, 2023

    On Jan­u­ary 24, 2023, the In­ter­na­tional Au­dit­ing and As­sur­ance Stan­dards Board (IAASB) opened the public consultation for a group audit-specific section of the proposed auditing standard for less complex entities (LCEs). The proposed section, Part 10, Audits of Group Financial Statements, is intended to form part of the proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE) when finalized. The Exposure Draft is open for public comment until May 2, 2023.

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  • AASB Guide regarding the impact of recent amendments to IAS 1

    Jan 24, 2023

    On January 24, 2023, the Auditing and Assurance Standards Board (AASB) issued a guide to address how the International Accounting Standards Board’s (IASB) narrow-scope amendments to International Accounting Standard (IAS) 1, Presentation of Financial Statements affect the Canadian Auditing Standards (CASs) and Canadian Standard on Review Engagements (CSRE) 2400, Engagements to Review Historical Financial Statements.

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  • 2022/2023 Audit Quality Report: Focused on Great

    published Jan 25, 2023

    Our 2022/2023 report highlights that when we focus on being great in all that we do, exceptional audit quality is a natural output. Quality goes well beyond compliance with technical accounting and auditing standards. At Deloitte, we view audit quality to encompass the quality of the audit experience, the insights we provide to our clients, the proprietary processes and controls we develop and employ and a world-class talent experience for our people.

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  • Make remote … work

    published Jan 20, 2023

    Participants will gain key insights on how to operationalize the intersection of their remote work and business travel programs and “make remote … work.”

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  • ASPE Accounting Insights - Accounting Guideline 20 (AcG-20)

    published Jan 18, 2023

    With the continuous evolution of technology, the number of organizations transitioning from on-premise technology to cloud computing arrangements has increased rapidly. Cloud computing has many benefits, including increased scalability, higher system availability, disaster recovery optionality, and much more.

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  • How CFOs can learn the ins and outs of the hybrid work model

    published Jan 18, 2023

    The Covid-19 pandemic turned bustling offices into ghost towns practically overnight. As employees proved they could work productively from their homes, some finance leaders couldn’t help but wonder: Why are we spending so much money on office space, and could that money be better used elsewhere? And even as social distancing became less imperative, some employees still found no compelling reason to return to their offices.

  • 2023: The year of the risk-centric agenda Image
  • On the Audit Committee’s Agenda — 2023: The year of the risk-centric agenda

    published Jan 16, 2023

    Risk oversight is among the most important of the audit committee’s responsibilities. This edition of On the audit committee’s agenda discusses some areas that are most likely to be the subjects of audit committee risk oversight in 2023 including: financial reporting and disclosure; enterprise risk management; cybersecurity; and environmental and climate change.

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  • The 2023 board agenda

    published Jan 11, 2023

    In this edition, we discuss some of the critical topics like board composition, technology, workplace, climate, organizational strategy and risks, and finally the board itself, that have remained relatively constant in the past five years, as well as new and emerging topics that will likely be on the board’s agenda in 2023.

  • Interest rate increases bite, leading to deeper recession Image
  • Interest rate increases bite, leading to deeper recession

    published Jan 11, 2023

    With interest rates increasing, inflation slowing and the Canadian economy entering a recession in addition to the US and Europe, this quarters outlook looks at the factors supporting the negative turn in sentiment. The economic outlook remains clouded in uncertainty. The biggest risk to the outlook is that past interest rate increases may be more impactful than anticipated, leading to a deeper and more protracted global downturn. Scenario analysis that accounts for upside and downside risk to the economic outlook allows companies to assess how revenues and profits could change under different circumstances.

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  • Global Risks Report 2023

    published Jan 10, 2023

    The world faces a set of risks that feel both wholly new and eerily familiar. The Global Risks Report 2023 explores some of the most severe risks we may face over the next decade. As we stand on the edge of a low-growth and low-cooperation era, tougher trade-offs risk eroding climate action, human development and future resilience.

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