Deloitte’s Top 10 Canadian TMT Predictions for 2011

In 2011, Canadian consumers and enterprises will continue to move away from a predictable but narrow world of standardized computing devices and are voting with their wallets in favour of diversity of choice. Between PCs, netbooks, tablets and smartphones, buyers must choose among a wide array of functionalities, platforms, operating systems, sizes, features and price points. Like kids in a candy store, consumers and enterprises will be both excited and overwhelmed by the sheer variety of options available to them. Canadians will use these various devices while shopping, while working, for social networking and for media consumption. (Read more about Deloitte’s Top 10 2011 Canadian TMT Predictions and download the Report.)

ACCA launches online Virtual Research & Insights Conference

More than 6,000 finance professionals have signed-up for the Association of Chartered Certified Accountants (ACCA) online Research & Insights Conference which launched last week. The conference sessions can be viewed on-demand via the ACCA website until October 27, 2011.

HRH Prince of Wales delivered a live address at the conference on his involvement with the Accounting for Sustainability Project, as part of the session on integrated reporting. The online audience also heard from Professor Mervyn King, deputy chair of the International Integrated Reporting Committee (IIRC), who talked about the future scope of integrated reporting, as well as the benefits and challenges of creating a framework that brings together financial, environmental, social and governance information in a clear, concise and comparable format.

The conference covered a wide range of topics from a wealth of expert speakers, including: the new business environment: opportunities for growth; why talent management in finance matters; integrated reporting: a framework for the future; financial issues from Brussels; extended audit reporting; the eProfessional: creating the next generation of accountants; making businesses accountable; cloud computing; social media; and XBRL.

(View the ACCA conference program and ACCA Attendee Guide, then register to access the conference presentations.)

Netwatch - Smartphones are changing everything

Jim Carroll recently noted that: "I was invited to talk to 250 students for my son’s Grade 12 class. When I ran the first text-message poll, I had about 247 responses within 60 seconds. For members of this generation, texting is like oxygen; their mobile smartphone is their view into the world. They’ll look at something like text-message-based banking and think it is a great idea. ...This speaks to a huge trend: significant business model change as a result of the impact of mobile or smartphone technology. ...And the trend isn’t limited to financial services — it’s happening in virtually every industry." To learn more, read the article "Smartphones are changing everything" in the August 2011 issue of CAmagazine online.

IFRS: the first quarter

The first IFRS Canadian corporate report filings are now in. How did the implementation go? What went right? What went wrong? What can we expect in the future? With a number of major IFRS projects underway at the International Accounting Standards Board — policy decisions for leases and financial instruments — the new reporting landscape is still a live environment. For a review of how selected companies were able to prepare their first IFRS reports, read the article "IFRS: the first quarter" in the August 2011 issue of CAmagazine online.

Interim Reporting Under IFRS — An Update

CPR Alert (Issue 14, July 2011) is a non-authoritative bulletin prepared by staff of the Canadian Performance Reporting Board (CPRB) at the Canadian Institute of Chartered Accountants (CICA). This issue, Interim Reporting Under IFRS — An Update, reviews: Filing deadlines – no extension for Q2 and Q3; Items to include in Q2 and Q3 2011 interim financial reports; Auditor review of interim financial reports; MD&A considerations for Q2 and Q3 2011; and Classification of bankers acceptances under IFRS. In addition, the Ontario Securities Commission published IFRS Release No. 3 – IFRS Interim Financial Reports –Tips For Q2 And Q3 on July 7, 2011. That release provides a useful filing tip sheet for Q2 and Q3.