Are you worried about the measures your organization has to adopt to comply with public health regulations? The Order has a broad range of tools available to support you in this critical time.
COVID-19 resources – Financial reporting and assurance
For a slew of resources and articles to help you understand and assess the current and potential effects of the pandemic on financial statement presentation, audit and review, visit the Financial reporting and assurance section of our COVID-19 page.
Corporate governance: what happens after the pandemic?
After examining crises that have shaken businesses over the last few years, what can we expect in the period following this one—and how can we manage risk in that context?
Electronic document transmission: Chambre des notaires du Québec relief measures
The Chambre des notaires has confirmed that it is exceptionally authorizing all notaries to transmit their accounting documents electronically to the auditor conducting the trust accounting audit if the latter is unable to meet with the notary due to the COVID-19 health crisis.
ASPE – Leases modifications – Example notes to financial statements
The Order's ASPE working group provides examples of notes to financial statements following the amendments made in November 2020 to Section 3065, “Leases”, of the CPA Canada Handbook – Accounting.
Continuing education – Are you ready for the end of the reference period?
For most members, the first rolling three-year reference period ends on August 31. In your education summary, you can view your already tracked hours at a glance. Be sure to take full advantage of the next few months to reach the minimum required hours for the year and period.
Framework for information integrity controls for organizations
The increased use of information technologies brings with it a number of risks to information integrity. This tool will help you implement enablers and controls to minimize those risks.
Taxable benefit, limits and rates for the use of automobiles
The federal and provincial governments have announced temporary rules for determining the value of the taxable benefit for an automobile, as well as the deduction limits for automobile expenses and the prescribed automobile expense benefit rates for 2021. The federal government is also proposing to expand tax support for business investment in zero-emission vehicles.
Following the effective date of the new Canadian Standard on Assurance Engagements (CSAE) 3530, Attestation Engagements to Report on Compliance, two opinions must be issued in separate reports after 2019:
CMHC: update to Guide for preparing financial statements and templates
The main amendments concern the review engagement report for the section 1 form, which is no longer required, as well as the addition of information for the FCHI-2 program.
IFRS – AcSB exposure draft – Lease liability in a sale and leaseback
The AcSB has issued an exposure draft corresponding to that of the IASB. The Board proposes amending IFRS 16 to specify the seller-lessee’s method of initial measurement of the right-of-use asset and liability in a sale and leaseback transaction, as well as the seller-lessee’s method of subsequent measurement of that liability.
Quebec sales tax ecommerce application and changes to the tax system
The Ministère des Finances published its position on the application of the GST/HST to electronic commerce supplies and also announced several changes to the tax system.
To help you stay current with news that impact our profession and easily find resources to adjust your work methods, we developed a special, continuously updated web page available to you.
Questions or comment?
Email us at covid19@cpaquebec.ca. Note that the Order cannot comment on measures and programs for a specific situation. Please refer to the summary of measures and official information sites.
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