http://www.mnp.ca/media-centre/blog/tags/accounting-standardsAccounting Standards Blog Post RSS FeedCopyright 2012MNP All rights reserved.Generally speaking, the Auditing and Assurance Standards Board (AASB) has agreed with the proposed change to the International Standards on Auditing (ISA) and will adopt them as the new Canadian Auditing Standards (CAS).http://www.mnp.ca/en/media-centre/blog/2009/6/11/the-new-canadian-auditing-standards/Thu, 11 Jun 2009 00:00:00 GMTFor years, there has been a cry for simplified financial reporting standards by the millions of private entities in Canada, their auditors and stakeholders. In 2002, the Accounting Standards Board (AcSB) approved the existing Differential Reporting model to address the concerns of private enterprises. http://www.mnp.ca/en/media-centre/blog/2009/6/22/private-enterprise-standards-the-call-has-been-answered/Mon, 22 Jun 2009 00:00:00 GMTIn the past, there was some differentiation in the public sector accounting standards applicable to each level of government, i.e. federal, provincial, territorial and local governments. http://www.mnp.ca/en/media-centre/blog/2009/8/25/one-set-of-accounting-standards-for-all-levels-of-government/Tue, 25 Aug 2009 00:00:00 GMTSince becoming effective in 1997, there have been few revisions to the CICA Section 4400 Series of standards for NFPOs. However, this is about to change! http://www.mnp.ca/en/media-centre/blog/2009/9/14/the-future-of-financial-reporting-by-not-for-profit-organizations/Mon, 14 Sep 2009 00:00:00 GMTAre NPOs required to apply the current FI standards related to recognition and measurement (i.e., Sections 1530, 1651, 3051, 3251 and 3855)?http://www.mnp.ca/en/media-centre/blog/2009/9/30/application-of-financial-instruments-for-not-for-profit-organizations/Wed, 30 Sep 2009 00:00:00 GMTOver the past several years, the Accounting Standards Board (AcSB) and the Public Sector Accounting Board (PSAB) have been deliberating the appropriateness of financial reporting frameworks for all types of Canadian entities. http://www.mnp.ca/en/media-centre/blog/2009/10/13/the-financial-reporting-framework-for-government-business-enterprises/Tue, 13 Oct 2009 00:00:00 GMTThe Accounting Standards Board (AcSB) is another step closer to determining the future for Canadian not-for-profit organizations (NFPOs).http://www.mnp.ca/en/media-centre/blog/2010/5/4/not-for-profit-organizations-one-step-closer/Tue, 04 May 2010 00:00:00 GMTCanadian Auditing Standards will be applicable for all Canadian audit engagements for periods ending on or after December 14, 2010. So what does this mean for your company’s audit? There is one change, specifically, that you need to be aware of.http://www.mnp.ca/en/media-centre/blog/2010/9/8/changes-to-the-auditors-report-date-may-affect-your-audit/Wed, 08 Sep 2010 00:00:00 GMTWith the adoption of Canadian Auditing Standards (CAS) for credit unions with year ends on or after December 14, 2010, the auditor's report date will be the date that the Board of Directors approve the financial statements. What will this mean for your upcoming audit?http://www.mnp.ca/en/media-centre/blog/2010/9/28/what-credit-unions-need-to-know-about-the-new-canadian-auditing-standards-cas/Tue, 28 Sep 2010 00:00:00 GMTWith the recent oil spills, ongoing clean-up efforts, and an overall increase in environmental consciousness, Environmental or “Green” Accounting has come into focus.http://www.mnp.ca/en/media-centre/blog/2010/11/10/the-trend-toward-environmental-accounting/Wed, 10 Nov 2010 00:00:00 GMTAfter choosing whether to adopt IFRS or the newly developed ASPE, our Private Enterprise clients ask us what they need to consider before deciding to “fair value” their property, plant and equipment upon adoption of their new accounting framework. This is what we tell them.http://www.mnp.ca/en/media-centre/blog/2010/12/1/fair-value-increase-on-adoption-of-new-accounting-standards-for-private-enterprises/Wed, 01 Dec 2010 00:00:00 GMTOn January 31, 2011, Transparency International Canada issued a press release highlighting the fact that the RCMP’s Sensitive Investigations and International Anti-Corruption Unit currently has 23 active investigations into suspected breaches of the Canadian Foreign Public Officials Acts (CFPOA).http://www.mnp.ca/en/media-centre/blog/2011/2/24/canadas-anti-corruption-legislation-after-more-than-10-years-could-increased-enforcement-be-near/Thu, 24 Feb 2011 00:00:00 GMT