Professional matters: news and views for members — May 2015

One in three Canadians is a financial fraud victim, according to recent CPA Canada survey. Plus, news on the unification of BC’s accounting bodies and CPA Canada’s new Facebook page.

SECURITY MATTERS

Nearly one in three Canadians is a financial fraud victim

A CPA Canada survey conducted by Nielsen earlier this year revealed that 32% of respondents had been victims of financial fraud. Credit card fraud was by far the most commonly encountered type (67%). Debit card fraud (29%), and online fraud (16%) followed.

While identity theft was less commonly encountered (9%), 70% of respondents reported that they were concerned about it. Email fraud, fraudulent investment schemes and cheque fraud were reported less frequently.

Interestingly, 48% agreed that they’re uncomfortable making Internet purchases, but 49% reported spending $500 or more online in an average year.

Results were similar to a survey conducted in 2014. The exception, exposure to online fraud, received only 6% of responses last year. Read the survey summary at cpacanada.ca/fraud.

UNIFICATION

34,000 BC accountants become one

The Chartered Professional Accountants Act passed its third and final reading in the BC legislature on March 4, 2015, bringing the three legacy bodies one step closer to unification. The act will come into effect after it receives royal assent and is proclaimed by the cabinet. The existing accounting bodies will continue to work together to formally establish the new unified regulatory body, the Chartered Professional Accountants of BC (CPABC). Over the coming months, the regulatory team will develop the new bylaws and bylaw regulations, as well as the code of professional conduct. Get more unification news at cpacanada.ca/unification.

GO SOCIAL

You’ll "like" this

CPA Canada just got a new Facebook page. Offer your comments, check out photos and videos,  and stay up to date on the latest  news and events. Check it out at facebook.com/cpacanada.

GOOD READS

Alternatives to stock options for SMEs


Using CPA Canada’s new online primer, small and mid-sized public companies can take stock of their employee compensation programs and start meaningful discussions about alternatives.

Equity-Based Alternatives to Stock Options helps companies choose the best program for the business and the talent it wants to attract and retain. The free PDF file uses in-depth information and short case studies to explain the alternatives, including the accounting implications and factors that should be weighed during decision-making. Download a copy from cpacanada.ca/equitybasedalternatives.

DATA DIVING

Few Canadians give themselves an "A" on financial skills report card

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Highlights

Update your knowledge and strengthen your network at this must-attend conference covering the most important issues and trends affecting audit committee members.

It’s probable that someone you know is deep in debt. If you are observant, you might see one of these seven signs.