Public Practice News & Views Knowledge Base

Search our Public Practice News & Views Knowledge Base for specific topics, or Browse through the knowledge base categories.

Browse Categories

Public Practice News

Call for CRA questions ends Oct 12
CPABC will soon start organizing our annual liaison meetings with the Canada Revenue Agency. Members have an opportunity to ask questions about the Agency’s administrative practices and policies but we must submit them well in advance.

Please keep in mind that CRA will not discuss specific case files or answer technical tax questions. Questions that deal with technical matters, such as the interpretation of provisions of the Income Tax Act or the Regulations, will not be sent to CRA as they are beyond the scope of these liaison meetings.

If you have any questions about administrative practices and policies at CRA, please send them to ProfessionalAdvisory@bccpa.ca by Friday, October 12, 2018.
Public Practice - Key Dates for 2018/19
News from the Canada Revenue Agency UPDATED January 29, 2018
Toward a New Standard on Compilation Engagements
A new standard for Compilation Engagements is being proposed! The proposals would significantly change the communication attached to compiled financial information and could affect the way practitioners perform the engagement.

Take advantage of these resources to get informed:
- The Exposure Draft for CSRS 4200 Compilation Engagements will be released on September 4, 2018. Download it from the FRAS Canada website.
- Register here for a free online webinar on September 26, 2018 from 9:30 to 10:30 a.m. pacific to learn more about the proposed standards and how you can provide input.
- The Auditing and Assurance Standards Board will hold an in-person consultation at the CPABC office on October 4, 2018. Register here on the FRAS Canada website.
Provide Input on KPI Framework
The Accounting Standards Board has recently released a Draft Framework for Reporting Performance Measures. This framework, if adopted, could apply to all entities, from public and private companies, to not-for-profit organizations and pensions plans. Download the draft framework from the Financial Reporting & Assurance Standards Canada website and provide your comments by October 1, 2018.
Accounting Standards for Agriculture Released For Comments
The Accounting Standards Board has issued an exposure draft on accounting for agricultural inventories and productive biological assets under Accounting Standards for Private Enterprise (Part II of the CPA Canada Handbook – Accounting). You can download the exposure draft from the Financial Reporting & Assurance Standards Canada website and provide comments by October 31, 2018.

In addition, the Board intends to conduct a roundtable consultation on the exposure draft in BC on September 25, 2018. If you are interested in providing input, please register online to attend the roundtable and the AcSB will provide venue details once confirmed.

Public Practice News & Views Knowledge Base