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.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1997
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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.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1996
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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.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 2001
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