IFRS + C-SOX Certifications – Regulatory
International Financial Reporting Standards (IFRS) will replace Canadian generally accepted accounting principles (GAAP) for fiscal years beginning on or after January 1, 2011. Read More
International Financial Reporting Standards (IFRS) will replace Canadian generally accepted accounting principles (GAAP) for fiscal years beginning on or after January 1, 2011. Read More
Similar to the Revenue recognition process, for most companies the $ value of their Accounts Receivable represents one of the largest assets on their Balance Sheets, and accordingly, these amounts are usually very significant / material. Therefore, the SOX Business Process should be carefully reviewed and tested to ensure that no internal control gaps exist that could result in financial reporting misstatements. Read More
What is strategic planning and why is it so important? Read More
The bankruptcies of Enron in 2001 and Worldcom in 2002 were due, in large part, from financial reporting irregularities. The sheer magnitude of Enron's collapse (Enron had revenues of over $100 billion), the nature of some of their accounting practices, and complicity of other firms who turned a "blind eye" to the questionable transactions, created a crisis in confidence for investors who rely upon the financial statements of publicly traded companies in making investment decisions. Read More