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Learn about the risks of using ad-hoc spreadsheets to manage the conversion from Canadian GAAP to IFRS.
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Spreadsheets are invaluable dynamic tools that can provide a wide variety of functionality at a minimal cost. However, anything more than a simple spreadsheet has a high likelihood of errors and those errors can have a significant impact on the organization.
Companies relying on ad-hoc spreadsheets to convert from Canadian GAAP to IFRS are at an even higher risk because the information is reported externally.
IFRS and Spreadsheets: A High-Risk Combination discusses the risks associated with using spreadsheets to convert to IFRS and how to manage them:
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.