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Searching Content indexed under Accounting and Audit by Osler, Hoskin & Harcourt LLP ordered by Published Date Descending.
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1
Federal Court Of Appeal Holds Canada Revenue Agency Does Not Have The Power To Compel Oral Interviews During Audit
The Canada Revenue Agency (CRA) has increasingly requested oral interviews during audits, particularly in transfer pricing audits. In Minister of National Revenue v. Cameco Corporation,
Canada
17 Apr 2019
2
CSA Concludes Real Estate Issuers Should Improve Disclosure Relating To Distributions And Non-GAAP Financial Measures
The Canadian Securities Administrators (CSA) have concluded that the quality and completeness of disclosure by real estate reporting issuers relating to distributions and non-GAAP...
Canada
18 Apr 2018
3
Livent Decision And The Scope Of Auditor Liability
In a significant decision on December 20, 2017, the Supreme Court of Canada provided important guidance on the scope of responsibility of auditors in Canada.
Canada
2 Jan 2018
4
OSC Staff's Latest Views Have Implications For Capital Markets Transactions – Highlights From The 2016-2017 Annual Report Of The Corporate Finance Branch
The Corporate Finance Branch of the Ontario Securities Commission (OSC) released its latest Annual Report on September 21, 2017.
Canada
2 Oct 2017
5
SEC Agrees To $11.8 Million Settlement With Auditor For Alleged Audit Failures
In October 2016, the U.S. SEC announced Ernst & Young LLP agreed to pay $11.8 million to settle SEC allegations related to failed audits at oil services company Weatherford International PLC.
Canada
23 Nov 2016
6
Penalties Assessed For Untimely Disclosure Of Liabilities Arising From An Investigation
On September 9, 2016, the United States Securities and Exchange Commission ("SEC") charged RPM International Inc. ("RPM") with failing to make proper disclosure.
Canada
26 Oct 2016
7
Tesco’s Accounting Scandal A Lesson For All Public Companies
Britain’s biggest retailer faces a crisis situation two weeks after announcing that it overstated its first-half profit expectations by some £250-million.
Canada
9 Oct 2014
8
BIA And CCAA "Lookback Periods" For Preferential Transactions
Lenders should be cognizant that the granting of security by a debtor may be subject to challenge as a fraudulent preference in the event the debtor subsequently files for liquidation or proposal proceedings under the Bankruptcy and Insolvency Act (Canada) (the "BIA") or restructuring proceedings under the Companies’ Creditors Arrangement Act (Canada) (the "CCAA").
Canada
17 Feb 2012
9
Intercreditor Agreements - Ontario Court Of Appeal Considers Circular Priorities
A recent decision of the Ontario Court of Appeal illustrates that secured creditors should address their priority position relative to all other creditors of their borrower in order to achieve a complete subordination of competing security.
Canada
12 May 2011
10
MEGA Brands Inc.: The Canada Business Corporations Act Provides an Innovative Approach to Balance Sheet Restructuring and a Landmark Result
On March 22, 2010, the Superior Court of Quebec approved a plan of arrangement under the Canada Business Corporations Act (the CBCA) that allowed a corporation, MEGA Brands Inc., to achieve a worldwide restructuring of its business under a corporate statute, rather than a more typical insolvency and restructuring statute like the Companies Creditors’ Arrangement Act.
Canada
15 Jun 2010
11
New Act To Govern Federal Non-Profit Corporations
After several attempts over the past five years, Canada is finally getting new legislation to govern federal non-profit corporations.
Canada
30 Sep 2009
12
Credit Market Turmoil And Stimulus Package Bolster U.S. Loan Buybacks
The credit crisis that began in August of 2007 and intensified with Lehman Brothers' September 2008 bankruptcy continues largely unabated in U.S. loan markets in early 2009.
Canada
13 Mar 2009
13
Québec Releases Working Paper On Aggressive Tax Planning
On January 30, 2009 the ministère des Finances (Québec) released its Working Paper on Aggressive Tax Planning. The Working Paper sets out proposed changes to Québec tax legislation to strengthen Québec’s response to ATP schemes.
Canada
9 Feb 2009
14
Supreme Court Of Canada Opens The Door To Labour Relations Proceedings Against Insolvency Administrators
A decision by a majority of the Supreme Court of Canada rendered late last week may have the effect of declaring "open season" on proceedings seeking to have insolvency administrators declared successor employers under applicable labour legislation.
Canada
21 Sep 2006
15
Proposals Enhance Dividend Tax Credit for Large Corporations
On June 29, 2006, the federal Department of Finance released draft amendments to the Income Tax Act (Canada) (the Act) aimed at implementing the government’s 2006 budget proposal to lower the income tax rate on dividends paid by large corporations. Interested parties are invited to submit comments on the proposal by September 15, 2006. It is expected that legislation effective for eligible dividends paid after 2005 will be introduced this fall.
Canada
3 Aug 2006
16
U.S. Legislative Update: The Tax Increase Prevention and Reconciliation Act of 2005
On May 17, 2006, the President signed into law the Tax Increase Prevention and Reconciliation Act of 2005 (the Act). Touted as a $70 billion dollar "tax-cut package", the Act amends the Internal Revenue Code of 1986, as amended (the Code) by, among other things, extending certain temporary tax reductions and also implementing several new substantive provisions. This update provides a summary of some of the most noteworthy provisions of the Act, some of which are noteworthy cross-border developme
United States
 
13 Jun 2006
17
PEI Becomes Third Province To Enact Franchise Legislation
On July 1, 2006, the Prince Edward Island Franchises Act will come into force, making PEI the third Canadian province, after Alberta and Ontario, to regulate the relationship between franchisors and franchisees.
Canada
13 Jun 2006
18
CEO/CFO Certifications Respecting Internal Control Over Financial Reporting To Come Into Effect For Fiscal Years Ending On Or After June 30, 2006
The Canadian securities administrators (CSA) announced on March 10, 2006 that they will not defer implementation of CEO/CFO certifications regarding internal control over financial reporting (ICOFR), contrary to previous expectations. The CSA also announced that they will not be proceeding with a proposed multilateral instrument on reports on internal control over financial reporting, although they expect to introduce amendments to annual certification requirements to require certifying officers
Canada
 
22 Mar 2006
19
Alberta Introduces Unlimited Liability Corporations
On May 17, 2005, the Business Corporations Act (Alberta) was amended to allow for the incorporation of unlimited liability corporations (ULCs). Prior to those amendments, ULCs in Canada could only be incorporated under the Companies Act(Nova Scotia).
Canada
27 Jun 2005
20
U.S. Securities and Accounting Regulators Give New Guidance on Internal Controls Audits
Management and auditor concerns about the significant costs of compliance with Section 404 of the Sarbanes-Oxley Act have spurred the SEC and PCAOB to issue additional guidance on internal control audits.
Canada
27 Jun 2005
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