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Climate change may affect financial statements of cities in several different ways. Uncertainties about climate-related risks and events may have implications for a city's cash flows, assets, liabilities, reserves, revenue streams, and cost of capital.
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This tool serves to help financial statement preparers and auditors better understand how climate-related issues might affect the application of Canadian public sector generally accepted accounting principles (GAAP). It includes questions to ask under CPA Canada's Public Sector Accounting Handbook when determining the impact of climate-related issues on the financial statements and the associated note disclosures.
You will also find considerations of how climate-related issues may impact reporting outside of the financial statements (i.e. in the annual report) and additional questions to ask under the Public Sector Accounting Board's Statements of Recommended Practice (SORPs).
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.