Professional Matters NEWS AND VIEWS FOR MEMBERS SUPREME COURT RULING DATA DIVING 29%
Balanced federal budget and tax reform
42%
The latest CPA Canada Business Monitor (Q4 2017) shows that setting a target date for a return to balanced federal budgets and a review of the country’s tax system are endorsed by professional accountants in leadership positions.
17%
9% 2%
Agree the federal government should set a target date to return to balanced budget
71% 75%
Livent vs. Deloitte decision
CANADA’S accounting profession is reviewing the Supreme Court of Canada’s recent 4-to-3 decision in the Deloitte vs. Livent case to understand what it means for auditors and the business community. Deloitte was found to be negligent in its auditing of Livent’s 1997 financial statements, but not for its approval of a press release and comfort letter to investors. CPA Canada respects the decision of the courts and is studying the ruling so it can fully assess the information.
www.cpacanada.ca/supremecourt
“Strong corporate reporting enhances trust, enhances
accountability, and helps protect the public interest”
—JOY THOMAS, PRESIDENT AND CEO, CPA CANADA NEW RMAs New RMAs for CPAs
EFFECTIVE JANUARY 1, several reciprocal membership agreements (RMAs) came into effect between all Canadian CPA bodies and various international account- ing bodies. Under these RMAs, Canadian CPAs may now be eligible to qualify for accounting credentials in the following countries: Ireland, Scotland, South Africa, Australia and New Zealand. Learn more at
www.cpacanada.ca.
10 | CPA MAGAZINE | FEBRUARY/MARCH 2018 HOLIDAY SPENDING
Paying down debt a priority for Canadians
THE 2017 CPA Canada Holiday Season Spending Monitor revealed that, on average, the amount Canadians planned to spend during the holiday season was down 18% from the previous year. This might be due to the fact that 69% of those surveyed listed debt reduction as a high or medium priority. Learn more at
www.cpacanada.ca/holidayspending.
BRIGHTSPACE/D2L UPDATE
CPA Canada’s online learning gets a facelift
BRIGHTSPACE (D2L), CPA Canada’s online learning environment, now has a redesigned layout and dynamic interface that will allow users to access their course content from desktops, laptops, tablets and smartphones. The new responsive design features a cleaner, uncluttered look, while maintaining all previous functionality and tools.
Agree a comprehensive review of Canada’s tax system is now required
48%
Are optimistic about Canada’s economic outlook
1% each 29%
Say the top challenge to economic growth is protectionist trade sentiments in US
Source: The CPA Canada Business Monitor Q4 2017 study was conducted by Nielsen from November 29 to December 18, 2017. Emailed surveys were completed by 377 of 4,676 identified by CPA Canada as holding senior positions in industry (CFOs, CEOs, COOs and other leadership roles). The response rate was 10%, with a margin of error associated with this type of study ±5.0%, with a confidence level of 95%.
www.cpacanada.ca/businessmonitor
Jim Cochrane/First Light/Getty (2)
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