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Interim reporting is an important aspect of the financial reporting process. Our discussion brief advocates that the choices management and directors consider for interim reporting should be regarded as strategic matters.
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Interim reports improve stakeholders’ ability to understand an organization’s capacity to generate earnings and cash flows as well as its financial condition and liquidity.
Chartered Professional Accountants of Canada (CPA Canada)’s Canadian Performance Reporting Board (CPRB) prepared the discussion brief, Interim Reporting Strategies in partnership with the Canadian Investor Relations Institute (CIRI), to help management and directors decide what to report on an interim basis.
The brief is primarily based on a review of 27 companies’ 2012 third quarter and annual financial statements and MD&A, supplemented by discussions with analysts and research of relevant material. The sample included TSX and TSX-V listed Canadian companies with market capitalizations of $1 million to $74 billion.
It’s said that a crisis brings out the best in people and, in most cases, that’s true. But there is a dark side to tough times, as fraudsters prey on people who are uncertain and looking for easy answers.
March 18, 2020
The federal government’s actions and fiscal support to address the widespread and devastating economic fallout of the COVID-19 pandemic are welcomed by Chartered Professional Accountants of Canada (CPA Canada).
Listen to this special edition Practitioner’s Pulse webinar where we answer some frequently asked questions around practice management issues and some key financial reporting and auditing implications of COVID-19.