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May 2012

		Ten ways to add value While some might perceive accountants as nothing more than boring bean counters, there are others who consider them their most trusted advisers. To those in the small and medium enterprise arena, CAs are their most valuable source of information and services BY YAN BARCELO Staying alive With the current worldwide recession posing a danger to small and medium enterprises, the ones with sound restructuring strategies stand the best chance of surviving these economic doldrums BY JOHN LORINC

People So just how does a CA designation give a real estate agent an edge in Toronto’s fast-paced housing market? Just ask realtor-to-reckon-with Arthur Caplan. After years of experience in public practice and business, Caplan opted for the freedom of a successful career in real estate News and trends • Balance or bust • Going concern • Ask an expert • Numbers game • CAmag is best-in-class Bits and Bites • Home advantage • Thanks Mom • More training please • Wake-up call for managers • Standard decisions Value added • Reputation risk management on the rise • Private company GAAP and CFOs

		Transition to IFRS It’s just around the corner, and here are a few steps toward implementation of IFRS 1 BY JOANNE BARRADAS Taxation Obama’s proposals: a few of the US tax changes could be relevant to Canadian subs of US multinationals and vice versa BY JANETTE ZIVE + GEORGE GUEDIKIAN Assurance Changes ahead: for a smooth transition to new auditing standards, auditors and their clients will need training BY ANNIE BEAUDIN Technology Applying IT controls: when it comes to IT general controls as a prerequisite to reliance on application controls,there’s a difference of opinion BY CHRIS ANDERSON

News from the profession New accounting standards for private enterprises coming soon • Quality control comes into effect December 15, 2009 • Toolkit helps SMBs navigate through the credit crunch • Getting on track with IFRS • AASB issues new Canadian Auditing Standards

Standards digest Recently issued pronouncements

From the editor Staying alive Netwatch Don’t be a one-night brand Outlook Productivity and innovation Letters to the editor