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      March 2010
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Features
 
  FVA: smoke & mirrors?
Fair-value accounting has always spawned debates among accountants, regulators and investors about its definition and when its use is appropriate. But in the recent financial crisis, the debates intensified, shining a harsh light on FVA and the profession
BY MICHEL MAGNAN + DAN THORNTON

Destination: CA
To find out what today’s typical CA student looks like, CAmagazine conducted an informal survey. It painted a portrait of CA students who are bright, driven, ultra-connected and probably more diverse than any group that has gone before them
BY LORIE MURDOCH


Upfront
 
People Who says you need to know how to bake bread to manage the dough? Just ask CA John Rossetti, who with his brother moved a hands-on bakery into the high-tech age without skimping on quality or snubbing tradition

News and trends • Workers to look for greener pastures • Going concern • Numbers game • Incentives are still “in” • Ask an expert

Bits and Bites • In banks we trust • When can we meet? • A new way to pay • Not ready to retire • Look out for D-I-Y theft

Value added • Different generations, same objectives • Reviewing the role of expert witnesses


Regulars
 
  Harmonized sales tax The long-awaited panacea? As two more provinces take up HST, it remains to be seen if harmonization is a cure-all
BY JOHN DRYSDALE

Education There are some indications the new regulatory landscape has strengthened auditing
BY CLIVE LENNOX + JEFFREY PITTMAN

Assurance They make it possible to review internal auditors’ work and are a key factor to success
BY PIERRE GAGNÉ

Standards Overall audit documentation requirements are the same between CASs and existing standards, but differences lie in certain standards
BY ERIC TURNER

Finance Sidelined by a lack of debt capital, private equity firms are sitting on cash. Where will they put it?
BY MARK BORKOWSKI


From the profession
News from the profession IFRS readiness: adopters confident • Changes to CICA Handbooks • New rules mean more small and midsized CA firms can train CA students • Proposed IFRS sparks Canadian discussion • Expanded CPD opportunities for 2010

Standards digest Recently issued pronouncements


COLUMNS
 
From the editor How fair is fair?
Netwatch Get app and go
Outlook The culprits
Letters to the editor