Informing investors

Article Abstract:

The Canadian Institute of Chartered Accountants (CICA) has released a research report called the Financial Reporting by Investment Funds as mutual funds continue to influence the economy and the investing public. The report was also in response to a suggestion by the Ontario Securities Commission for CICA to review the disclosure and reporting practices of investment funds. CICA's report conveys that investment fund statements must be comprehensible and comparable. Investment funds must undergo reporting, disclosure and governance comparable to that of a publicly traded Canadian firm.

Open-End Investment Funds, Investment Funds & Trusts, HOLDING AND OTHER INVESTMENT OFFICES, Mutual funds, Disclosure statements (Accounting), Investment pools

---

CICA continues national drive for proportionate liability

Article Abstract:

The Canadian Institute of Chartered Accountants (CICA) continues to call for legislative reform to prevent the current legal liability crisis from totally driving auditors out of business. Under the existing legal framework, auditors are exposed to joint and several liability so that they can be sued for 100% of a claimant's losses even if they were responsible for only a tiny fraction of such losses. CICA is pushing for the replacement of joint and several liability with proportionate liability.

Management, Malpractice, Auditors

---

Timely guidance

Article Abstract:

The revised Canadian Institute of Chartered Accountants Handbook has been issued by the Assurance Standards Board in response to new legislation becoming effective this year. New Section 7050 provides auditors information on audit committee guidelines for interim financial statements. Guideline AuG-30, Assurance and Related Services, deals with auditor consent to the use of documentation for financial reporting.

Canada, Government regulation (cont)

Similar abstracts:

• Abstracts: Labyrinth: dodging the minotaur. Circulation fiasco hits management credibility. AOL Time Warner
• Abstracts: When investors eyes are smiling. Pool performances. The value of income
• Abstracts: John Maunders. Countryside properties. Galliford Try
• Abstracts: Softline retailers. Outlook for apparel retailers. Big Dog Holdings, Inc. (BDOG)
• Abstracts: US bank industry consolidations slows. Industry trends

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.