Professional Matters NEWS AND VIEWS FOR MEMBERS SECURITY MATTERS
Nearly one in three Canadians is a financial fraud victim
A CPA CANADA survey conducted by Nielsen earlier this year revealed that 32% of respon- dents had been victims of financial fraud. Credit card fraud was by far the most commonly encountered type (67%). Debit
card fraud (29%), and online fraud (16%) followed. While identity theſt was less commonly encountered (9%), 70% of respondents
reported that they were concerned about it. Email fraud, fraudulent investment schemes and cheque fraud were reported less frequently. Interestingly, 48% agreed that they’re uncomfortable making Internet pur-
chases, but 49% reported spending $500 or more online in an average year. Results were similar to a survey conducted in 2014. The exception, exposure
to online fraud, received only 6% of responses last year. Read the survey summary at
cpacanada.ca/fraud.
UNIFICATION
34,000 BC accountants become one THE CHARTERED PROFESSIONAL Accountants Act passed its third and final reading in the BC legislature on March 4, 2015, bringing the three legacy bodies one step closer to unification. The act will come into effect aſter it receives royal assent and is proclaimed
GOOD READS
Alternatives to stock options for SMEs USING CPA CANADA’S new online primer, small and mid-sized public companies can take stock of their employee compensation programs and start meaningful discussions about alternatives. Equity-Based Alternatives to Stock
10 | CPA MAGAZINE | MAY 2015
Options helps companies choose the best program for the business and the talent it wants to attract and retain. The free PDF file uses in-depth information and short case studies to explain the alternatives, including the accounting implications and factors that should be weighed during decision- making. Download a copy from
cpacanada.ca/equitybasedalternatives.
by the cabinet. The existing accounting bodies will continue to work together to formally establish the new unified regu- latory body, the Chartered Professional Accountants of BC (CPABC). Over the coming months, the regulatory team will develop the new bylaws and bylaw regulations, as well as the code of pro- fessional conduct. Get more unification news at
cpacanada.ca/unification.
DATA DIVING
Few Canadians give themselves an “A” on financial skills report card
My personal financial skills are: Excellent. I deserve an A! 18%
I’d give myself a B I deserve a C Gimme a D I’d give me an E I need improvement. Gimme an F I dunno
37% 26% 7%
2% 8% 1%
Source: CPA Canada 2014 finance study of 1,002 Canadians conducted by Nielsen from Oct. 14 to Oct. 30, 2014
GO SOCIAL You’ll “like” this
CPA CANADA just got a new Facebook page. Offer your comments, check out photos and videos, and stay up to date on the latest news and events. Check it out at
facebook.com/cpacanada.
Zmeel Photography/Getty Images Salvaewewwwewco
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