AFM101 Chapter Notes - Chapter 6: Canadian Securities Administrators, Press Release, Financial Statement

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM101
• Professor: Jiye Li

Document Summary

Provide useful economic information to external users for decision making (assessing future cash flows) Players in the accounting communication process: regulators (csa, acsb, aasb, stock exchanges) 13 securities regulators of canada to harmonize regulation of the canadian o. Protect investors from unfair, improper, fraudulent practices, foster fair capital markets and maintain integrity of securities market. Establish standards for accounting and reporting by canadian companies (set. Fedaral agency which oversees canadian accounting firms (independent auditors) that perform auditing engagements of public companies. Aasb canadian auditing and assurance standards board o. Canadian auditing standards for auditors to report in accordance to these standards. 5: managers (ceo, cfo and accounting staff, board of directors (audit committee) Board of directors: elected by shareholders to represent their interests, responsible for maintaining the integrity of company"s financial reports. Unqualified (clean) audit opinion: auditor"s declaration that the financial statements are fair presentations in all material respects conformity with ifrs.