The Canadian Institute of Chartered Accountants / L’Institut Canadien des Comptables Agréés
Registration:
9
of
9
(2006-05-12
to
2006-08-22)
Subject Matter: Retrospective:
|
DURING THE PREVIOUS SIX MONTHS, THE CICA MADE REPRESENTATIONS TO THE DEPARTMENT OF FINANCE ON FINANCIAL INSTITUTIONS LEGISLATION, BUDGET RELATED MATTERS AND THE DEFINITION OF LIMITED PARTNERSHIP UNDER THE INCOME TAX ACT. REPRESENTATIONS WERE MADE FROM THE JOINT TAXATION COMMITTEE, IN CONJUNCTION WITH THE CANADIAN BAR ASSOCIATION, TO THE DEPARTMENT OF FINANCE AND THE CANADA REVENUE AGENCY REGARDING CHANGES IN LEGISLATION OR REGULATION TO THE INCOME TAX ACT AND ON IMPLEMENTATION ISSUES. THE CICA CONTINUED TO DISCUSS STANDARD SETTING OF GAAP AND GAAS AND ISSUES RELATED TO CORPORATE GOVERNANCE AND THE REGULATION OF THE CAPITAL MARKETS WITH THE DEPARTMENT OF INDUSTRY, THE DEPARTMENT OF FINANCE AND THE OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS. REPRESENTATIONS WERE MADE TO THE DEPARTMENT OF FINANCE AND THE CANADA CUSTOMS AND REVENUE AGENCY REGARDING THE IMPLEMENTATION OF CIVIL PENALTIES FOR THIRD PARTIES. THE CICA CONTINUED TO MEET WITH VARIOUS GOVERNMENT DEPARTMENTS TO MAKE THEM AWARE OF ASSURANCE SERVICES SUCH AS ELDERCARE AND THE CICA WEBTRUST TM, ASKING THEM TO RECOGNIZE THE VALUE OF THESE SERVICES AS A BASIS FOR DEVELOPING POLICIES/PRACTICES AND SETTING STANDARDS IN AREAS SUCH AS ELECTRONIC COMMERCE. THE CICA CONTINUED DISCUSSIONS WITH INDUSTRY CANADA REGARDING BILL C-21, NON-PROFIT ORGANIZATIONS. CICA HAD DISCUSSIONS WITH TRESURARY BOARD AND THE COMPTROLLER GENERALS OFFICE REGARDING AUDITING MEASURES AND ACCOUNTABILITY MEASURES.
|
Subject Matter: Prospective:
|
DURING THE NEXT SIX MONTHS CICA WILL CONTINUE ITS ACTIVITIES WITH THE PRIME MINISTERS OFFICE, DEPARTMENT OF FINANCE ON FINANCIAL INSTITUTIONS LEGISLATION AND BUDGET RELATED MATTERS. REPRESENTATION WILL CONTINUE BY THE JOINT TAX COMMITTEE, IN CONJUNCTION WITH THE CANADIAN BAR ASSOCIATION,TO THE DEPARTMENT OF FINANCE AND THE CANADA CUSTOMS AND REVENUE AGENCY REGARDING CHANGES IN LEGISLATION OR REGULATION TO THE INCOME TAX ACT AND ON IMPLEMENTATION ISSUES. REPRESENTATIONS WILL CONTINUE FROM THE COMMODITY TAXATION COMMITTEE TO THE DEPARTMENT OF FINANCE AND THE CANADA CUSTOMS AND REVENUE AGENCY ON A RANGE OF COMMODITY TAX AND CUSTOMS ISSUES. REPRESENTATIONS WILL CONTINUE FROM THE JOINT TAXATION COMMITTEE TO THE DEPARTMENT OF FINANCE AND THE CANADA CUSTOMS AND REVENUE AGENCY REGARDING ADMINISTRATION OF CIVIL PENALTIES FOR THIRD PARTIES. THE CICA WILL CONTINUE TO DISCUSS STANDARD SETTING OF GENERALL ACCEPTED ACCOUNTING PRINCIPLES (GAAP) AND GENERALLY ACCEPTED AUDITING STANDARDS (GAAS) AND ISSUES RELATED TO CORPORATE GOVERNANCE AND THE REGULATION OF THE CAPITAL MARKETS WITH THE DEPARTMENT OF INDUSTRY, THE DEPARTMENT OF FINANCE AND THE OFFICE OF THE SUPERINTENDENT OF FINANCIAL INSTITUTIONS. THE CICA WILL CONTINUE ITS DISCUSSIONS WITH INDUSTRY ON CHANGES TO THE CANADA CORPORATIONS ACT. CICA WILL CONTINUE ITS DISCUSSIONS WITH TRESURARY BOARD AND THE COMPTROLLER GENERALS OFFICE ON AUDITING AND ACCOUNTABILITY.DISCUSSIONS WITH CRA ON AUDITORS WORKING PAPERS
|
Details Regarding the Identified Subject Matter
Categories
|
Description
|
Regulation
|
Auditors Working Papers as per CRA decision.
|
Legislative Proposal
|
Financial Institutions Sector Legislation,Canada Non-for-Profit Corporations Act,Accountability Act
|
Policy or Program
|
White Paper Discussions with Finance and PMO on annual public policy paper topics (eg. Debt Reduction, Foreign Credential Recognition.)
|