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December 2022

Revised CAS 315 – Analysis of Risks Arising from the Use of IT

The Auditing and Assurance Standards Board recently amended CAS 315 – Identifying and Assessing the Risks of Material Misstatement in the CPA Canada Handbook. This article outlines a few of the clarifications and revisions made to CAS 315. 

The Importance of Working Capital Definitions in Buy-Side Due Diligence

The process of acquiring a company is a lengthy undertaking which, when completed smoothly, does not significantly impact its normal operations. This article outlines items to consider when setting an accurate working capital target and definition for the purchase agreement so that undefined liabilities do not become the responsibility of the purchaser.

Renewed CRA Focus - Personal Services Business

Recently the CRA began an “educational outreach project” relating to Personal Services Businesses (“PSB”). This article is devoted to reminding clients what circumstances might trigger the PSB provisions and the effects if those provisions are triggered.

Making Lemonade: Strategies for when the markets are giving you lemons

Lingering effects of the pandemic, rising inflation, supply chain constraints, war and other external factors have produced significant declines in the markets that could make even the safest of investors sweat. This article takes a look at some of the ways you can use a market downturn to your advantage.