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Foreword
Faced with an increasingly demanding economic environment, it is vital that private enterprises in Canada have the opportunity to use accounting standards that respond to their needs and the needs of those who use their financial statements. In 2006, the Accounting Standards Board recognized that one financial reporting framework does not fit all entities. Based on this understanding, the Board developed a strategy tailored specifically to meet the unique reporting needs of Canadian private enterprises. The new standards are derived from standards in the existing CICA Handbook Accounting. Changes were confined to areas that were identified by stakeholders as being unnecessarily complex. As a result, most of the accounting policies and practices used by private enterprises have not changed. This should make understanding and adopting the new private enterprise standards more straightforward than implementing a completely new accounting framework. These made-in-Canada accounting standards for private enterprises are effective for fiscal years beginning on or after January 1, 2011, and include the option to early adopt. Such enterprises also have the option to adopt International Financial Reporting Standards.
Like all standards, the accounting standards for private enterprises will not remain static. Changes will be made to address new circumstances and to keep the standards current. The newly established Private Enterprise Advisory Committee, made up of preparers, business advisors, auditors and users will work to ensure modifications continue to satisfy the needs of private enterprises and the users of their financial statements. I take this opportunity to recognize the efforts of the Non-publicly Accountable Enterprises Advisory Committee, businesses and many other stakeholders who contributed to the development of this significant new set of standards. Their insights were instrumental in ensuring that the standards are of the highest quality and meet the needs of the marketplace. The CICA is pleased to provide this concise reference guide. Used as a starting point, the comparative information it contains will help you become familiar with the revised framework, easing your efforts to prepare, plan and implement the new Canadian accounting standards for private enterprises. Ron Salole Vice-President, Standards Canadian Institute of Chartered Accountants
List of Acronyms
AcSB: CICA: EIC: Accounting Standards Board (Canada) Canadian Institute of Chartered Accountants Emerging Issues Committee
FOME: Framework for Owner Managed Enterprises GAA: Global Accounting Alliance
GAAP: generally accepted accounting principles IFAC: IFRSs: International Federation of Accountants International Financial Reporting Standards Provincial Institutes of Chartered Accountants/Ordre des comptables agrs du Qubec
PICA/Ordre:
XFI:
Part III accounting standards for not-for-profit organizations Part IV accounting standards for pension plans Part V A complete set of the existing Handbook contents
Contents
The Evolution of New Accounting Standards for Private Enterprises Who is Affected? Key Changes Preparing for the Transition Options under Accounting Standards for Private Enterprises Timing Implementing Accounting Standards for Private Enterprises Getting Involved Resources Available from Chartered Accountants of Canada Summary Comparison of New Accounting Standards for Private Enterprises About this Comparison 1 3 5 9 11 11 12 13 14 15 16
2000:
2002:
2006:
The CICA invited comment on a proposed accounting Framework for Owner Managed Enterprises (FOME). 2008: The AcSB made the decision to establish madein-Canada financial reporting standards for private enterprises, based on the standards in the existing CICA Handbook Accounting (Handbook). This approach was influenced in part by the response to the FOME. The AcSB established an advisory committee, made up of preparers, auditors and users of private enterprise financial statements, to provide input on the development of the standards and propose solutions to address the issues identified through the 2006 research. The AcSB issued an Exposure Draft on the proposed generally accepted accounting principles (GAAP) for private enterprises. New accounting standards for private enterprises were issued in December. The standards reduced measurement complexities of those areas identified by stakeholders as problematic and significantly reduced disclosure requirements. The standards are built from the existing Handbook, which is familiar to many users. The approval of new standards gives Canadian private enterprises the option of using accounting standards developed specifically for their unique needs or IFRSs. 2010: The new accounting standards for private enterprises are incorporated into the Handbook as Part II. The AcSB established the Private Enterprise Advisory Committee to provide insight into areas of the standards that require improvement, additional topics that should be addressed and issues arising in practice where implementation guidance might be helpful.
2009:
Who is Affected?
Any private enterprise can adopt the new standards. There are no qualifiers such as unanimous consent from shareholders. A private enterprise is a profit-oriented entity that is not a publicly accountable enterprise, nor an entity in the public sector. The following definition of the term publicly accountable enterprise has been adopted for the purposes of determining which Part of the CICA Handbook Accounting applies to a reporting entity. A publicly accountable enterprise is an entity, other than a not-for-profit organization, or a government or other entity in the public sector, that: (i) has issued, or is in the process of issuing, debt or equity instruments that are, or will be, outstanding and traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets); or holds assets in a fiduciary capacity for a broad group of outsiders as one of its primary businesses.
(ii)
Banks, credit unions, insurance companies, securities brokers/dealers, mutual funds and investment banks typically meet the second criterion above. Other entities may also hold assets in a fiduciary capacity for a broad group of outsiders because they hold and manage financial resources entrusted to them by clients, customers or members not involved in the management of the entity. However, if they do so for reasons incidental to a primary business (as, for example, may be the case for travel or real estate agents, co-operative enterprises requiring a nominal membership deposit or sellers that receive payment in advance of delivery of the goods or services, such as utility companies), that does not make them publicly accountable.
Key Changes
The accounting standards for private enterprises contain many parts of the existing Handbook that stakeholders indicated did not cause significant concerns. Important changes have been made to simplify the process and better meet the needs of the marketplace. Some key changes are as follows:
Simplification in measurement
A significant area of simplification that will affect many private enterprises is financial instruments. A new standard (Section 3856) was developed to replace the various financial instrument sections in the existing Handbook. Section 3856 requires most financial instruments to be measured at cost (or amortized cost). Only equities quoted in an active market and free-standing derivatives are required to be measured at fair value. However, there is an option to measure other financial instruments at fair value if a private enterprise wishes. The standard also covers a number of other important aspects of accounting for financial instruments. The impact of adopting Section 3856 will depend on whether or not the enterprise previously used the XFI version of the Handbook. Notable simplifications were also made to the accounting for asset retirement obligations, employee future benefits, development costs, goodwill, and stock-based compensation.
Disclosure requirements
Required note disclosures have been significantly reduced so as to focus on the needs of the users of private enterprise financial statements. In particular, there are fewer requirements for disclosure of assumptions, reconciliations and detailed breakdowns of balance sheet and income statement numbers. As a result, the cost of preparing financial statements is lower but sufficient information is provided to give fair presentation of an enterprises financial position, operating results and cash flows and to help users gauge when to ask for more information on specific issues or transactions. To facilitate compliance with disclosure requirements, the standards include a Compilation of Disclosure Requirements that reproduces all of the specific disclosure requirements contained in the standards.
First-Time Adoption
The guidance for first-time adoption is contained in Section 1500, First-time Adoption. To ensure that the entitys first set of financial statements prepared under the new standards is transparent for users and comparable over all periods presented, the overall approach is retroactive application. This means that the financial statements have to be restated in accordance with the new standards and presented as if the entity has always applied these standards.
However, in some cases retrospective application may lead to costs that outweigh the benefits. Section 1500 provides exemptions from the general retrospective application requirement for certain specific areas. For example, although no changes were made to Section 3840, Related Party Transactions, a company may not have recorded past related party transactions in accordance with Section 3840. Section 1500 allows the company, on first-time adoption, not to restate such prior transactions. As a result of these exemptions, first-time adoption of the new standards will generally be straightforward. Section 1500 also includes specific prohibitions to the general retrospective application requirement. These are for areas where changes would involve hindsight. In order for the user to be able to understand the changes when the new standards are adopted, Section 1500 requires the financial statements to show the comparative year prepared on the same basis. Disclosure of changes to the opening retained earnings and a reconciliation of the prior year net income is also required. For example, for an entitys 2011 calendar year end, it will be required to present its 2010 comparative financial statements using the new standards. In addition, it needs to disclose an opening balance sheet as at January 1, 2010 using the new standards, a reconciliation showing all the changes to the January 1, 2010 retained earnings as a result of adopting these standards and a reconciliation of the 2010 net income.
11
Timing
Although the private enterprise standards are effective for years beginning on or after January 1, 2011, private enterprises have the option of early adoption. An entity may wish to adopt the standards for its 2010 year end in order to take advantage of simplification to areas such as employee future benefits or reduced disclosure requirements. Of course the decision to early adopt will affect the entitys transition timeline. One-time disclosure and presentation requirements for the entitys first set of financial statements issued under the new standards need planning and preparation. Entities need to assess whether resources are available to prepare this information in time for 2010 year ends. The entity should also consider which exemptions in Section 1500 it may want to select. For example, an entity may choose to apply fair value to its fixed assets. (This exemption allows a one-time revaluation of fixed assets to fair value and may be desirable to some entities.)
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3. 4.
5.
6.
7.
13
Getting Involved
The Accounting Standards Board is committed to ensuring that accounting standards for private enterprises keep pace with the dynamic and changing needs of this vital segment of the Canadian economy. A national advisory committee has been established to provide ongoing insight. The Private Enterprise Advisory Committee is comprised of volunteers from across Canada who represent a cross-section of stakeholders including financial statement users, financial statement preparers and accounting professionals. Committee members will advise the AcSB on areas within the framework that require improvement and additional topics that should be addressed. They will also identify issues arising in practice where implementation guidance might be helpful. Any changes to the standards will go through the AcSBs normal due process, including exposure of draft proposals for comment. Constituents are encouraged to contact the committee to suggest areas that should be considered: Greg Edwards, CA Principal Accounting Standards Board 277 Wellington Street West Toronto ON M5V 3H2 Canada Email: greg.edwards@cica.ca Telephone: 416- 204-3462 Fax: 416- 204-3412
14
For more information visit the www.cica.ca/PE or your provincial Institute/Ordre website.
16
17
The standards in Part II and the XFI Version of Part V of the Handbook are based on common conceptual frameworks. Part V of the Handbook was used as a starting point in developing the standards in Part II. Standards in Part V that are largely irrelevant to the private enterprise sector have been excluded from Part II and a limited number of issues that have caused significant concern for private enterprises have been reconsidered. However, the majority of the recognition and measurement requirements in Part V of the Handbook do not cause significant concern for private enterprises and have been retained in Part II as is. Emerging Issues Committee (EIC) Abstracts of Issues Discussed have been excluded from Part II but in a limited number of instances, guidance on significant issues addressed in EIC Abstracts has been incorporated into Part II. This comparison is organized according to Handbook Sections and Accounting Guidelines and reflects standards issued as of December 31, 2009. The term converged has been used in the comparison when the standards in Part II are substantially the same as the relevant standards in the XFI version of Part V. Similar requirements compiled in a single standard in Part II that were previously reflected in two or more standards in Part V, are not considered differences for the purpose of this comparison.
18
The following table of concordance relates each accounting standard for private enterprises in Part II of the CICA Handbook Accounting, to the corresponding standard in XFI version of Part V. The table does not include differences in disclosure requirements. Comparison of accounting treatments Section 1000, Part II, is converged with XFI Section. None Significance* of differences
Section 1000, Financial Statement Concepts Section 1100, Part II, is converged with XFI Section. Section 1100, Part II, has been redrafted to be consistent with the content of Part II. No corresponding standard in Part II. Section 1400, Part II, is converged with XFI Section.
Not significant
N/A None
The assessment of significance of differences is a judgment made by AcSB staff in general terms. A difference may be significant to a particular transaction or entity depending on its materiality or nature.
Handbook standards Part V (XFI) Comparison of accounting treatments All requirements in this Section relate to disclosures, which are outside the scope of this summary comparison. N/A Section 1506, Part II, is converged with XFI Section, except that Section 1506, Part II, permits certain accounting policy choices to be changed without meeting the criterion in 1506.06 of providing more relevant or reliable information (see 1506.09). All requirements in this Section relate to disclosures, which are outside the scope of this summary comparison. Section 1510, Part II, is converged with XFI Section. The following Sections in Part V have been incorporated into Section 1510, Part II: Section 3000 (see 1510.07); and Section 3040 (see 1510.06). Certain guidance from the following EIC Abstracts has been included in Section 1510, Part II: EIC-59 (see 1510.14); and EIC-122 (see 1510.13).
Significance* of differences
Significant
N/A
None
19
20
Handbook standards Part V (XFI) Comparison of accounting treatments This presentation Section reflects income statement presentation requirements from other Sections presentation is outside the scope of this summary comparison. This presentation Section reflects balance sheet presentation requirements from other Sections presentation is outside the scope of this summary comparison. No corresponding standard in Part II. Section 1540, Part II, is converged with XFI Section. However, under Part II, all enterprises must provide a cash flow statement. N/A N/A
Significance* of differences
N/A Significant for enterprises that do not provide a cash flow statement under XFI standards Significant for enterprises adopting Part II prior to 2011
Section 1582, Part II, is converged with XFI Section. Section 1582 is effective on adoption of Part II as Part II does not include Section 1581.
Handbook standards Part V (XFI) Comparison of accounting treatments Section 1590, Part II, is converged with XFI Section, except as noted below. Under Section 1590, Part II, an enterprise may account for subsidiaries by consolidating them, or using either the cost or equity method. This is consistent with the differential reporting option in XFI Section. However an investment in a subsidiary whose equity securities are quoted in an active market is not accounted for at cost, but may be accounted for at fair value. Section 1601, Part II, is converged with XFI Section.
Significance* of differences Significant for a subsidiary that would now be accounted for at fair value rather than cost
None
Section 1602, Part II, is converged with XFI Section. Section 1602 is effective on adoption of Part II as Part II does not include Section 1600. Section 1625, Part II, is converged with XFI Section except for the accounting for income tax benefits (see 1625.43-44).
21
22
Handbook standards Part V (XFI) Comparison of accounting treatments Section 1651, Part II, is converged with XFI Section 1650. Hedge accounting (other than a hedge of an investment in a self-sustaining foreign operation) is addressed in Section 3856, Part II, rather than in Section 1651, Part II, and differs from XFI Section 1650. No corresponding standard in Part II. No corresponding standard in Part II. Section 1800, Part II, is converged with XFI Section. N/A N/A None None, except for hedge accounting addressed in Section 3856, Part II
Significance* of differences
No corresponding standard in Part II. Guidance from XFI Section incorporated in Section 1510, Part II (see 1510.07). No corresponding standard in Part II. Measurement and impairment requirements are provided in Section 3856, Part II. Designation as temporary is no longer relevant. Financial instruments are classified as current if they meet the requirements in Section 1510, Part II. No corresponding standard in Part II. Guidance from XFI Section incorporated in Section 3856, Part II (see 3856.16-.19).
N/A
Significant
N/A
Handbook standards Part V (XFI) Comparison of accounting treatments No corresponding standard in Part II. Guidance provided in Section 3856, Part II, differs from that in Section 3025 (see 3856.16-.19) in that alternative measurements are possible. When measurement of impairment is based on recoverable amounts, these estimates are discounted using market interest rates rather than the original effective interest rate. Section 3031, Part II, is converged with XFI Section. No corresponding standard in Part II. Guidance from XFI Section incorporated in Section 1510, Part II (see 1510.06). None Often not significant
Significance* of differences
N/A
23
24
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3051, Part II differs from XFI Section 3050. Significant differences are noted below. Significant Under Section 3051, Part II, an enterprise may account for significantly influenced investees using either the cost or equity method. This is consistent with the differential reporting option in XFI Section 3050. However, an investment in a significantly influenced investee whose equity securities are quoted in an active market is not accounted for at cost but may be accounted for at fair value. Under Section 3856, Part II, an investment in an equity security that is traded in an active market and not subject to significant influence is accounted for at fair value rather than at cost. The impairment provisions in Section 3051, Part II, are consistent with those in Section 3856, Part II.
Significance* of differences
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3055, Part II, differs from XFI Section. Significant differences are noted below. Under Section 3055, Part II, an enterprise may account for interests in joint ventures using proportionate consolidation, the cost method or the equity method. This is consistent with the differential reporting options in XFI Section. However an investment in a joint venture whose equity securities are quoted in an active market is not accounted for at cost but may be accounted for at fair value. The impairment provisions in Section 3055, Part II, are consistent with those in Section 3856, Part II. Section 3061, Part II, is converged with XFI Section. Section 3063, Part II, is converged with XFI Section. None None Significant
Significance* of differences
25
26
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3064, Part II differs from XFI Section. Significant differences are noted below. Significant Internally developed intangible assets Section 3064, Part II, permits an enterprise to make an accounting policy choice to capitalize or expense development costs. Goodwill and other intangible assets impairment testing Section 3064, Part II, requires enterprises to test goodwill and other intangible assets not subject to amortization on an events and circumstances basis, rather than each year. This is consistent with the differential reporting option in XFI Section. Section 3064, Part II, requires goodwill impairment testing to be done at the reporting unit level, removing the requirement in XFI Section to determine fair values of individual assets and liabilities. Certain guidance from EIC-133 has been incorporated in Section 3064, Part II (see 3064.68).
Significance* of differences
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3065, Part II, is converged with XFI Section, except that the requirements for (a) removing a lease liability from a lessees balance sheet, and (b) the impairment testing of lease receivables of a lessor in Section 3065, Part II, are consistent with those in Section 3856, Part II. Certain guidance from the following EIC Abstracts has been incorporated into Section 3065, Part II: EIC-19 (see 3065.03(r); EIC-21 (see 3065.27); EIC 25 (see 3065.64 and Illustrative Examples 3 and 4); EIC-52 (see 3065.25 and Illustrative Example 5); and EIC-97 (see 3065.26). Section 3110, Part II, is converged with XFI Section except that the measurement requirements have been simplified. Under Section 3110, Part II, asset retirement obligations are measured at the best estimate of the expenditure required to settle the present obligation at the end of the reporting period, rather than at fair value. No corresponding standard in Part II. Guidance provided in Section 3856, Part II. N/A Significant
27
28
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3240, Part II, is converged with XFI Section. None N/A All requirements in this Section relate to presentation, which is outside the scope of this summary comparison. The scope of Section 3251, Part II, is broader than XFI Section 3250. Certain guidance from EIC-132 has been incorporated into Section 3251, Part II (see 3251.10). Section 3260, Part II, is converged with XFI Section. All requirements in this Section relate to disclosures, which are outside the scope of this summary comparison. Section 3290, Part II, is converged with XFI Section. Section 3400, Part II, is converged with XFI Section. Certain guidance from the following EICs has been incorporated into Section 3400, Part II: EIC-78 (see 3400.17); EIC-79 (see 3400.22); EIC-123 (see 3400.23-.24); EIC-141 (see 3400.07-.10); EIC-142 (see 3400.011); EIC-144 (see 3400.25-.27); and EIC-156 (see 3400.28). None N/A
Significance* of differences
None None
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3461, Part II differs from XFI Section. Section 3461, Part II, permits defined benefit plans to be recognized and measured using either: an immediate recognition approach, whereby the accounting is based on a funding valuation, the funded status of the plan is recognized on the balance sheet and there is no deferral or amortization of actuarial gains and losses or past service costs; or the deferral and amortization approach as in the XFI Section, which requires a separate valuation for accounting purposes and deferral and amortization is required for past service costs and permitted for actuarial gains and losses. The definition of a defined benefit and defined contribution plan has been modified. The difference is not expected to be significant for most private enterprises. Significant
Significance* of differences
30
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3465, Part II, is converged with XFI Section. Under Section 3465, Part II, either the taxes payable method or the future income taxes method may be chosen. This is consistent with the differential reporting option in XFI Section. Certain guidance from the following EIC Abstracts has been incorporated into Section 3465, Part II: EIC-104 (see 3465.75); and EIC-146 (see 3465.65). Section 3475, Part II, is converged with XFI Section. None None
Significance* of differences
Section 3475, Disposal of Long-lived Assets and Discontinued Operations No corresponding standard in Part II. No corresponding standard in Part II.
Section 3610, Part II, is converged with XFI Section. Section 3800, Part II, is converged with XFI Section.
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3805, Part II, is converged with XFI Section. None None None None Section 3820, Part II, is converged with XFI Section. Section 3831, Part II, is converged with XFI Section. Section 3840, Part II, is converged with XFI Section. Certain guidance from the following EIC Abstracts has been incorporated into Section 3840, Part II: EIC-66 (see 3840.44(a)); EIC-77 (see 3840.38); EIC 89 (see 3840.44(b)); and EIC-103 (see 3840.33). All requirements in this Section relate to disclosures, which are outside the scope of this summary comparison. All requirements in this Section relate to disclosures, which are outside the scope of this summary comparison.
Significance* of differences
N/A
N/A
31
32
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3856, Part II, differs from equivalent requirements under XFI standards. The requirements in Section 3856, Part II, correspond to or replace guidance in Sections 3020, 3025, 3210, 3860, AcG-4, AcG-12 and AcG-13. Significant The significant differences between the guidance on financial instruments in XFI standards and Section 3856, Part II, include the following: Investments in equities that are traded in an active market are measured at fair value, with changes recognized in net income. An entity may also irrevocably elect on initial recognition to measure any other financial instrument at fair value. Derivatives, other than those in qualifying hedges, continue to be measured at fair value. A single model is applied to the recognition and measurement of impairment for all financial assets. All financial instruments are recognized on trade date. Transaction costs on financial instruments measured at amortized cost are capitalized. Transaction costs on financial instruments measured at fair value are expensed. The equity component of convertible debt and warrants or options issued with, and detachable from, financial liabilities may be measured at zero.
Significance* of differences
Handbook standards Part V (XFI) Comparison of accounting treatments Hedge accounting is available by designation for relationships specified in the Section if the critical terms of the hedging instrument match those of the hedged instrument. Preferred shares issued in a specified tax planning arrangement must be classified as equity. (This is consistent with the differential reporting option in XFI Section 3860.) Certain guidance from the following Sections, Accounting Guidelines and EIC Abstracts and has been included in Section 3856, Part II: Section 3020 (see 3856.16-.19); Section 3025 (see 3856.16-.19); AcG-4 (see 3856.07); AcG-12 (see 3856, Appendix B.); AcG-13 (see 3856.30-.36); EIC-88, 96 and 101 (see 3856.26-.29); EIC-149 (see 3856.20-.23); and EIC-158 (see 3856.14). No corresponding standard in Part II. Guidance provided in Section 3856, Part II. N/A
Significance* of differences
33
34
Handbook standards Part V (XFI) Comparison of accounting treatments Section 3870, Part II, differs from XFI Section. Significant Section 3870, Part II, replaces the minimum value method (i.e., the ability to ignore volatility in measuring stock-based compensation) with the calculated value method. Under the calculated value method an enterprise estimates the volatility that is used as an input to a stock option pricing model based on an appropriate sector index. No corresponding standard in Part II. The accounting standards for pension plans can be found in Part IV. No corresponding standard in Part II. No corresponding standard in Part II. N/A N/A N/A
Significance* of differences
No corresponding standard in Part II. Part III has been reserved for the accounting standards for not-forprofit organizations. AcG-2, Part II, is converged with XFI Guideline. No corresponding Guideline in Part II.
N/A
None N/A
Handbook standards Part V (XFI) Comparison of accounting treatments No corresponding Guideline in Part II. Guidance provided in Section 3856, Part II (see 3856.07). N/A No corresponding Guideline in Part II. No corresponding Guideline in Part II. N/A N/A
Significance* of differences
AcG-8, Actuarial Liabilities of Life Insurance Enterprises Disclosure No corresponding Guideline in Part II
AcG-9, Financial Reporting by Life Insurance Enterprises No corresponding Guideline in Part II.
N/A
N/A N/A
No corresponding Guideline in Part II. Guidance provided in Section 3856, Part II (see 3856, Appendix B). No corresponding Guideline in Part II. Guidance provided in Section 3856, Part II (see 3856.30-.36). AcG-14, Part II, is converged with XFI Guideline.
None
35
36
Handbook standards Part V (XFI) Comparison of accounting treatments AcG-15, Part II, is converged with XFI Guideline. AcG15, Part II, does not apply to an enterprise that chooses to prepare non-consolidated financial statements. None AcG-16, Part II, is converged with XFI Guideline. No corresponding Guideline in Part II. AcG-18, Part II, is converged with XFI Guideline. All requirements in this Guideline relate to disclosures, which are outside the scope of this summary comparison. None N/A None
Significance* of differences
Provincial Institutes/Ordre
The Institute of Chartered Accountants of Bermuda 31 Queen Street Boyle Building, 3rd Floor Hamilton, Bermuda HM 11 (441) 292-7479 www.icab.bm The Institute of Chartered Accountants of Nova Scotia 1791 Barrington Street, Suite 1410 Halifax, Nova Scotia B3J 3L1 (902) 425-3291 www.icans.ns.ca The New Brunswick Institute of Chartered Accountants 55 Union Street, Suite 250 Mercantile Centre Saint John, New Brunswick E2L 5B7 (506) 634-1588 www.nbica.org The Institute of Chartered Accountants of Prince Edward Island 56 Water Street, 2nd Floor Charlottetown, PEI C1A 7K7 (902) 894-4290 www.icapei.com The Institute of Chartered Accountants of Newfoundland and Labrador 95 Bonaventure Avenue, Suite 501 St. Johns, Newfoundland A1B 2X5 (709) 753-7566 www.ican.ca Ordre des comptables agrs du Qubec 680, rue Sherbrooke Ouest, e 18 tage Montral, Qubec H3A 2S3 (514) 288-3256 1 800 363-4688 www.ocaq.qc.ca The Institute of Chartered Accountants of Ontario 69 Bloor Street East Toronto, Ontario M4W 1B3 (416) 962-1841 1 800 387-0735 www.icao.on.ca The Institute of Chartered Accountants of Manitoba 500161 Portage Avenue East Winnipeg, Manitoba R3B 0Y4 (204) 942-8248 1 888 942-8248 www.icam.mb.ca The Institute of Chartered Accountants of Saskatchewan 3621 Pasqua Street Regina, Saskatchewan S4S 6W8 (306) 359-1010 www.icas.sk.ca The Institute of Chartered Accountants of Alberta 580 Manulife Place, 10180101 Street Edmonton, Alberta T5J 4R2 (780) 424-7391 1 800 232-9406 (for Alberta, outside Edmonton) www.icaa.ab.ca The Institute of Chartered Accountants of British Columbia Suite 500, One Bentall Centre 505 Burrard Street, Box 22 Vancouver, British Columbia V7X 1M4 (604) 681-3264 1 800 663-2677 www.ica.bc.ca If you are in the Yukon, please contact the Institute of Chartered Accountants of British Columbia. If you are in the Northwest Territories or Nunavut, please contact the Institute of Chartered Accountants of Alberta.
The Canadian Institute of Chartered Accountants 277 Wellington Street West Toronto, Ontario M5V 3H2 (416) 977-3222 www.cica.ca
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