OSC clamps down on income statements
Article Abstract:
The Ontario Securities Commission's chief accountant office issued a formal communication addressed to its staff elucidating the procedures stated in Sections 3475, 3480 and 3060, of the Canadian Institute of Chartered Accountants Handbook. Rules on reporting earnings per share, net-of-tax basis and subtotals, were explained in the communication. The communication was intended to clarify the format that should be used in preparing financial statements.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1992
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In communication
Article Abstract:
New sections of the CICA Handbook now offer instructions to financial personnel on the reporting of matters identified in making financial statement audits. Communication of these matters is important as management may find them significant in the implementation of responsibilities. New Section 5750 offers instruction on the content, timing and recording of the auditor's communication to management.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1997
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Law and audit
Article Abstract:
The Canadian Institute of Chartered Accountant's (CICA) Auditing Standards approved a new section, 5136, in the CICA's Handbook to help auditors identify illegal acts in corporate financial statements. The section encourages auditors to use the risk model contained in section 5130 to detect misstatements due to illegal acts. A discussion of the key elements of the new section is presented.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1995
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