COMM 217 Lecture Notes - Lecture 7: Canada Revenue Agency, Factiva, Financial Statement

• School: Concordia University
• Department: Commerce
• Course: COMM 217
• Professor: Majidul Islam

Document Summary

Any reported financial information is subject to strict regulations and standards issued by government regulators. Canadians publicly traded companies must comply with provincial securities regulations that are controlled by the canadian securities administration (csa) These regulators work close with the accounting standards board (acsb) and the canadian auditing and. Stocks exchanges also provide quality assurance services as well by having ongoing surveillance of reporting and trading activities; any non-compliance results in contacting securities offices like the canada revenue. The cfo and ceo must sign the financial statement. Accounting staff (those who took part in the creation of the financial report) have responsibility for the accuracy and legal responsibility. When a corporation grows, there are too many shareholders to properly make one decision, so these shareholders elect a board of directors. The bod are people who know the business well and represent shareholders. These directors appoint top management (ceo, cfo, cio, etc. ).