Professional matters: online resources to check out — June/July 2014

A new book helps Canadians understand common scams and take preventive action against fraud, while other new publications cover topics ranging from cybersecurity to business strategy planning.

BY THE BOOK

Protect Your Money and Your Life

Someone out there wants to be you. And it’s not a compliment. In fact, CPA Canada’s fraud survey revealed 43% of Canadians know a victim of financial fraud.

Protecting You and Your Money: A Guide to Avoiding Identity Theft and Fraud helps Canadians understand common scams and take preventive action.

“Fraudsters are globally connected, highly sophisticated and incredibly organized,” warns the book’s author, Kelley Keehn. “CPAs can arm their clients with information on the severity of the environment and provide them with action steps to protect their financial future.”

The Canadian government is stepping in as well. In mid-April, the minister of state (finance) announced the appointment of Jane Rooney as Canada’s first-ever financial literacy leader.

Order the book at cpacanada.ca/fraudprevention.

HOT TOPICS

A new take on money laundering

Recent amendments to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act came into force on Feb. 1, 2014.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is expected to start enforcing the amended legislation this summer. Failure to comply can result in significant financial and criminal penalties.

CPA Magazine will address this timely topic in the August issue. Learn about money laundering, common techniques, reporting obligations, consequences for accountants and the connection between the act and your clients’ privacy.

CPA Canada’s Guide to Comply with Canada’s Anti-Money Laundering (AML) Legislation, to be released this summer, will include a detailed look at whether the legislation affects you, how to comply and what happens if you don’t.

To find out more, go to FINTRAC’s guidelines.

GOOD READS

The best-laid plans

A great business strategy is only 100 pages away.

CPA Canada’s newest publication, Strategy and Planning Toolkit for Small and Medium Businesses, uses clear writing, concrete examples, descriptive charts and insightful tips to give business leaders and their advisers quick access to the valuable tools they need to craft a winning strategy and put their plan into action.

According to author Jeffrey D. Sherman, FCPA, FCA, entrepreneurs often start with a razor-sharp attention to strategy that’s ultimately sacrificed to get things done. “It’s meaningless to talk about great execution without a great strategy,” he says. “Strategy and planning aren’t optional extras.”

Order the book at cpacanada.ca/strategytoolkit.

TECH TALK

How safe is cyberspace?

The heart bleed bug took a nasty bite out of consumer and taxpayer confidence in April, so now is a good time for boards to consider the risks and benefits of doing business in a wired world. CPA Canada’s new director alert explores the basics of cybersecurity and offers helpful questions that directors can ask to understand how management protects important information and organization assets.

Download the publication from cpacanada.ca/cybersecurity.

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