Mobile insecurity

The proliferation of mobile computing has brought on a number of challenges, specifically around security issues. Smartphones are repeating a pattern witnessed in the 1980s with desktop computers. They flood into the corporate fold without any rational plan. And very often, they are introduced by employees who can’t resist the status statement these devices make. The greatest obstacle to security is the users themselves. People believe nothing of value resides on their device, yet much can be used for identity theft, intellectual property theft or espionage. Everyone likes these devices for the immediacy and convenience, and don’t want to be bothered with security barriers, especially passwords. This is why many users deactivate the password protection, which to begin with is very rudimentary and requires only a four-digit PIN identification. In a regular notebook, that would never be accepted as security. To learn more, read the article “Mobile insecurity” in the September 2011 CAmagazine online.

The "cloud" and what it can do for your business

When someone talks about joining “the cloud” are you puzzled? What is it, what does it do and what does it mean for the future? Some believe the cloud is a major step in the evolution of the Internet. Others say that, without a doubt, cloud computing will play a huge role in the design, reliability and speed of corporate websites. Many are convinced that, within the next five to six years, most computing services will be delivered from the cloud. Still, for many small business enterprises, cloud computing is an abstract concept. To learn more, read the article "Still foggy on cloud computing?" in the September 2011 issue of CAmagazine online. 

The Top Ten Tech Issues

The Canadian Institute of Chartered Accountants (CICA) Information Technology Advisory Committee conducts an annual survey of the most important IT issues facing the profession, which provides interesting insight into the prevalence and impact that technology has on businesses. While some topics come up every year, the relative importance of several issues changes from survey to survey.

This year was no different. Information management rose to the top spot from No. 3, pushing last year’s No. 1 issue, legislation and regulatory compliance, to second place. The impact of the recession, No. 2 last year, fell to No. 10 in this year’s survey, while new and emerging technologies rose to No. 3 from No. 5. (To learn more, read the article "The Top Ten Tech Issues" in the September 2011 CAmagazine online.)

Canadian income tax, then and now

It has been almost 40 years since Canada overhauled its tax system, eliminating estate duties and bringing in capital gains tax. Since 1972, we have seen no less than 49 editions of the Income Tax Act. Its length has increased enormously and the complexity exponentially. Changes in technology have aided the Canada Revenue Agency in the selection and audit of taxpayers. Ever-changing legislation, powerful audit tools, information exchange agreements and anti-avoidance rules have made tax planning harder, tax compliance more challenging and tax enforcement easier with key changes over the past 40 years and challenges presented to the accounting profession. (Read the article “Income tax, then and now” in the June-July 2011 issue of CAmagazine online.)

CICA Corporate Reporting Awards celebrate 60 years of excellence

This year marks the diamond anniversary of the Chartered Accountants of Canada’s Corporate Reporting Awards. Since 1941 the program has been centre stage in Canada’s evolution to best practice reporting models.  By providing important recognition for those committed to advancing business reporting, the program has helped drive the development of best practices in financial reporting, corporate governance disclosure, electronic disclosure and sustainable development reporting, all of which are now regarded as essential components of the corporate reporting model. Judging organizations include the Canadian Institute of Chartered Accountants (CICA), PricewaterhouseCoopers, Ernst & Young, Deloitte, International Institute for Sustainable Development, Canadian Investor Relations Institute, and Toronto CFA Society. (Read the article “Corporate Reporting Awards celebrate 60 years of excellence” in the June-July 2011 issue of CAmagazine online.)

The top 10 tech issues for 2010

Annually, the Information Technology Advisory Committee (ITAC) of the Canadian Institute of Chartered Accountants (CICA)  consults with the profession to learn what its greatest concerns are. In performing an analysis of the top 10 technology issues, newer technologies and their impact on business were considered and were addressed within the context of the more established issues. This year, the top ranked issue was compliance requirements. This is followed by the impact of the recession, information management, public trust and emerging technologies (such as cloud computing, social networks and personal technology). Other top 10 issues include collaborative-extended enterprises, infrastructure, IT governance, IT resources and skills, and knowledge management. Learn more by reading the online article "The top 10 tech issues" in the September 2010 issue of CAmagazine.

Stakeholders and IFRS

With International Financial Reporting Standards (IFRS), financial results should be more transparent to analysts, investors and regulators. But, have Canadian companies done their part to make sure their external stakeholders can make sense of IFRS? Read the article "Stakeholders and IFRS" in the August 2010 issue of CAmagazine online.

Cloud computing - advantages and issues to consider

Cloud computing — providing Web-based services to the public using networks, servers, data warehouses, software applications and Internet services managed by a third party — is an attractive option for companies that view investing capital in computing infrastructure as inefficient. These companies can move their computer processing to a virtual environment, ensuring that costs are more closely tied to the services offered and minimizing their fixed costs. Cloud computing has many advantages. It can be adapted to the size of the business and quickly implemented, and it is transparent in terms of costs and can deliver services that are not available internally. Nevertheless, an organization needs to consider a number of issues before switching to cloud computing. (Read the May 2010 article "Cloud Computing" at CAmagazine online.)

CSR is worth the investment

When prospective employees attend interviews at The Co-operators Group Limited, a national insurance provider, they often have the company’s sustainability report in hand. “They ask us if the information about our social and environmental performance is real, and we tell them - what you read is what you get,” relates Barbara Turley-McIntyre, director of sustainability and corporate citizenship. “The insurance industry is facing a war on talent, and we want to be an employer of choice. Our sustainability program is a big part of that.” New research findings from the Hewitt Associates 2010 Best Employers in Canada study confirm that the experience of The Co-operators Group is growing across a range of industries. There is a strong link between employee engagement and the way employees view their employers’ corporate social responsibility (CSR) approach. (Read the May 2010 article "CSR is worth the investment" at CAmagazine online.)

What would a world-class innovator do?

As we come out of the economic downturn into a hopeful recovery, more organizations are focusing on what they need to do next. My advice to them is to behave like a world-class innovator. And what exactly do world-class innovators do that other organizations don’t? Here’s a rundown... (Read the article What would a world-class innovator do?  by Jim Carroll in the April 2010 issue of CAmagazine online.)

Dissecting the next decade of the new millenium

After the decade of relative peace and prosperity that was the ’90s,expectations were that the good times would carry on into the new millennium. Few could have predicted how different the reality would be: the worst terrorist attack in history, two draining US-led wars that continue today, US$150-a-barrel oil and the near-collapse of the international financial system, which led to a worldwide recession we are just now crawling out of. What are the big concerns confronting Canadian business in the next 10 years? Eight business leaders share their thoughts? (Read the article Dissecting the decade in the April 2010 issue of CA magazine online.)

Canada – Evolution of Accounting Standards

As the end of the first decade of the new millennium draws to a close, it is time to review the current status of standard-setting activities in Canada, ponder the future and reflect on the past. A special edition of FYI Accounting Standards, a periodic newsletter issued by staff of the Canadian Accounting Standards Board (AcSB), describes the implementation of the new strategic plan for publicly-accountable enterprises, private enterprises and not-for-profit organizations.

The FYI newsletter explains the changes in the accounting standards applicable to each type of reporting entity by listing those amendments to the CICA Handbook-Accounting that took effect in 2009 or that have been issued but are not yet effective. It also notes that the AcSB expects to include International Financial Reporting Standards (IFRS) in the Handbook early in 2010. In that regard, it lists amendments to IFRS that are effective for 2009, issued but not yet effective, and expected to be issued in 2010.

Migrating to IFRS will mean significant changes to both the accounting standards and the due process for developing future standards. Lest we forget, the standard-setting processes in Canada have evolved considerably over the years (as explained in CAmagazine articles spanning the period from 1976 to 1992). The evolution continues…