ArticleImpact of IFRS on Credit AgreementsIn our last issue, in anticipation of the adoption of International Financial Reporting Standards (IFRS) on January 1, 2011, we provided practical tips for publicly listed enterprises. CanadaAccounting and AuditMcCarthy Tétrault
ArticleNew Business Tool Kit Chapter 7 – Cash Planning And ForecastingThe lifeblood of any business is its ability to collect cash and pay bills as well as pay its employees, particularly its owners. CanadaAccounting and AuditCrowe
ArticleRegulators Begin Focused Compliance SweepsIt appears that the long promised regulatory KYC, KYP and suitability audits have begun. Regulators have started reaching out to conduct focused compliance reviews to ensure compliance...CanadaAccounting and AuditBorden Ladner Gervais LLP
ArticleSCC: Auditors May Be Liable For Losses Related To Audit OpinionsOn December 20, the Supreme Court of Canada (SCC) released its decision in Deloitte & Touche v. Livent Inc. In a 4-3 decision, the majority held that auditors may be liable for losses ...CanadaAccounting and AuditTorys
ArticleYellowknife: Land Of The Midnight SunYellowknife is the capital city of the Northwest Territories (NWT) and is the largest city in the territory.CanadaAccounting and AuditCrowe
ArticleIFRS 16 – Changes That Impact Borrowers And Lenders Are Coming To Canada - Are You Ready?On January 1, 2019, new accounting practices will affect all countries that employ the International Financial Reporting Standards (IFRS), including Canada.CanadaFinance and BankingCassels
ArticleCRA Tax Audit Of Canadians Implicated In Panama PapersAs threatened at the time of the massive Panama Papers tax haven information leak, the Canada Revenue Agency has confirmed tax fraud investigations of dozens of Canadians for possible tax evasion charges linked to the Panama Papers. CanadaTaxRotfleisch & Samulovitch P.C.
ArticleCEBA And RRRF Loan Deadline Extension & Taxable COVID-19 ProgramsAs the prevalence of COVID-19 lessens, so does the need for Government assistance programs. Crowe MacKay's trusted advisors share an update on the CEBA and RRRF loan repayment deadline extension...CanadaCoronavirus (COVID-19)Crowe
Article8 Tips For Professional Diagrams Across Your Firm [Infographic]Whether you are working on mergers and acquisitions or asset arrangements to optimize tax scenarios, professional diagrams are valuable communication tools. CanadaCorporate/Commercial LawBlue J Legal
ArticleFinancial Statements Of Cross-Border Issuers: SEC To Require Use Of XBRLThe SEC has published a taxonomy so that companies that prepare their financial statements under International Financial Reporting Standards can submit them to the SEC using XBRL (eXtensible Business Reporting Language).CanadaCorporate/Commercial LawTorys
ArticleLiberal Government Announces Winding Down Of The Political Activities Audit Program For CharitiesThe Honourable Diane Lebouthillier, P.C., M.P., Minister of National Revenue, announced today the winding down of the review by the CRA of registered charities' political activities saying results of the political activities audit program have shown substantial compliance with the rules restricting political activities.CanadaCorporate/Commercial LawBorden Ladner Gervais LLP
ArticleAlberta Court Of Appeal Upholds Summary Judgment On Invoices Based On Pay First, Audit Later ProvisionIn a previous post, BLG blogged about SemCAMS ULC v Blaze Energy Ltd. 2015 ABQB 218 ("SemCAMS") where the Alberta Court of Queen's Bench granted summary judgment under a "pay first, audit later" clause.CanadaEnergy and Natural ResourcesBorden Ladner Gervais LLP
ArticleLoan Forgiveness Deadline Extended For CEBAIn response to the surge of COVID-19 cases the Federal Government has extended the deadline for repayment of the Canada Emergency Business Account (CEBA) loans to qualify for partial loan forgiveness...CanadaFinance and BankingCrowe
ArticleMaterial Difference Between Issuer’s Financial Results and Analysts’ Estimates is a Material FactStaff at the Ontario Securities Commission recently issued a news release regarding a warning letter sent to CP Ships Limited.CanadaFinance and BankingGoodmans LLP
ArticleOSC Staff Provides Views Of Investment Fund Prospectus DisclosureThe OSC released a notice today setting out the views of OSC Staff on the disclosure required by investment funds that use Form 41-101F2 (pre-IFRS version, IFRS version) when filing prospectuses. CanadaFinance and BankingStikeman Elliott LLP
ArticleStay Of Proceedings Lifted In Cross-Border Reorganization To Allow Pursuit Of Insured ClaimIn Re: Carrey Canada Inc. (2006) CarswellOnt. 7748, the Ontario Superior Court considered an application for the lifting of the stay to allow certain creditors of the debtor to pursue a claim which may have been insured under the debtor’s liability policy.CanadaInsolvency/Bankruptcy/Re-StructuringDentons Canada LLP
ArticleQuebec Announces Increase to the Quebec Refundable Tax Credit for Film or Television Production ServicesOn December 30, 2004, the Quebec Minister of Finance, the Honourable Yves Séguin, on behalf of the Quebec Government, announced an increase in the rate of the Quebec Refundable Tax Credit for Film or Television Production Services from 11% to 20% of eligible Quebec labour costsCanadaMedia, Telecoms, IT, EntertainmentGoodmans LLP
ArticlePersonal Income Tax OrganizerWhether you've been preparing your taxes for years or are new to filing taxes, Crowe MacKay's personal income tax organizer is a great resource.CanadaTaxCrowe
ArticleVancouver: The New Tech HubVancouver's long list of awards and accolades seems interminable.CanadaTechnologyCrowe
ArticleFive Standards To Have Different Effective Date In The EU Vs Rest Of WorldThe EU’s likely endorsement of a wave of standards for 2014 means that IFRS reporters will have to early adopt the standards in 2013 if they need to claim compliance with IFRS and EU IFRS. CanadaAccounting and AuditPwC Management Services LP