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More Changes Coming!!
April 15, 2010 |
If there is one constant in the world of accounting and the preparation of financial statements, that constant is change.
The latest changes to affect all assurance engagements (where an audit or review engagement report is issued) for profit oriented entities are International Financial Reporting Standards, “IFRS”, and Generally Accepted Accounting Principles for Private Enterprises, “PE GAAP”.
Effective for fiscal year ends commencing on or after January 1, 2011, all Canadian “non publically accountable entities” (pretty much everybody except Not-for-Profits, Co-ops, and Public Companies)
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Stress is the tax you pay for not taking 100% responsibility for your life.