Summary
Into this same guidance "void" stepped the BC Mid-Size Firms Forum, a group of 25 independent CA firms from Greater Vancouver. Faced with implementing the new independence standard and conflict of interest rules, together with the proposed quality control standards-all with little or no guidance-Forum members took it upon themselves to create a range of hands-on tools for mid-size firms, knowing that these tools could possibly serve smaller firms as well.
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Extract
Managing Standards Overload
Change, however positive, can be uncomfortable. Change in the midst of crisis can be utterly overwhelming.
So it is that many Canadian CAs now find themselves struggling to deal with the staggering number of recent changes to both Canada's ethical standards and the CICA Handbook standards-the sheer volume of which is now being referred to as "standards overload." And with good reason: In the last two years alone, 24 major changes and 10 major amendments have been made to the CICA Handbook, with 19 exposure drafts and 19 emerging issues abstracts released for consideration.Two major forces have contributed to this volume of change: (1) the push for global...See the full content of this document
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