Computing's armageddon
Article Abstract:
The Canadian Institute of Chartered Accountants or CICA with the US Financial Accounting Standards Board has come up with recommendations on how to address the year 2000 date change problem of computers for auditors and organizations. Three suggestions in handling the expenses involved in modifying software were given which included accounting of costs as expensed, capitalized, or treated in accordance with existing policies. The CICA Emerging Issues Committee has ruled that Canadian firms must follow the guidelines already set in its handbook concerning capital assets and the question of computer software costs.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1997
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Paper jam
Article Abstract:
Electronic financial reporting would speed the transmission of timely information, but the electronic system had yet to be widely accepted in Canada, even after extensive development from 1985-92. Some steps that need to be taken in order to encourage acceptance of electronic financial reporting include: improving timeliness of transmissions, upgrading databases to access a wider variety of information, controlling the security of databases, and preventing fraud. Canada's securities commissions are scheduled to launch a nationwide system after 1994.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1992
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Secure transactions: beyond phase 1
Article Abstract:
The joint CICA/AICPA task force has undertaken initiatives to enhance its electronic service. Some of the initiatives undertaken by the task force include development of a reporting bridge for WebTrust auditors and creation of principles and criteria for auditors to report on Internet service providers. With regards to the development of a reporting bridge, Shared responsibility between the third-party service provider and the retail client is promoted to satisfy the CICA/AICPA Web Trust criteria.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1999
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