Canada’s audit regulator releases first report on Big Four inspections

first_img Related news Auditing issues remain rampant IE Staff In its first public report on Canada’s Big Four accounting firms released today, the Canadian Public Accountability Board (CPAB) said that its inspection findings indicate the quality of audits performed by Deloitte LLP, EY LLP, KPMG LLP, and PwC LLP improved in 2014. “Based on the positive trend in 2014, it is clear that Canada’s four largest public accounting firms continue to take audit quality seriously,” said Brian Hunt, CEO, CPAB. Share this article and your comments with peers on social media Keywords Accounting firms,  AuditorsCompanies Canadian Public Accountability Board center_img Credit market problems prove longer lasting than expected: TD Economics “There is, however, still room for improvement in terms of driving consistent audit execution deeper into the organization. To this end, we have emphasized to the Big Four the need for continued focus on addressing audit issues that recur year over year as well as issues that we have identified in this inspection report,” he added. In 2014, CPAB inspected 98 Big Four engagement files, up from 105 in 2013, and found an overall improvement in audit quality, including a 36 per cent decline in files with significant audit deficiencies, down from 43 per cent in 2013. Since 2011 – when CPAB first issued its call to action to improve audit quality – the number of files inspected by CPAB with significant audit deficiencies has declined overall by more than two-thirds. While no new audit quality themes emerged this year, CPAB’s inspections indicate that challenges persist in the areas of complex accounting estimates, auditing in foreign jurisdictions, understanding and evaluating internal controls, applying professional judgment and executing professional skepticism. A key development in 2014 was the introduction of the Protocol for Audit Firm Communication of CPAB Inspection Findings with Audit Committees (Protocol). Audit firms are now required to share significant inspection findings and CPAB’s public reports with their clients’ audit committees. CPAB strongly encourages audit committees to discuss the report and any file-specific findings, if applicable, with their auditor. IOSCO aims for improved audit quality Facebook LinkedIn Twitterlast_img read more

Valenti makes final public pitch for council to support updated Gateway plan before September vote

first_imgCameron Group developer Tom Valenti was back in town Wednesday to pitch the Mission council on his latest public finance incentives requests.Tom Valenti is hoping the fourth time’s a charm for him embattled Mission Gateway project.The Syracuse, N.Y.,-based developer was back in Mission last night to lobby the city council to approve his most recent project plan as well as the public finance incentives he says are necessary to move forward. At Wednesday’s city council meeting, Mission held the public hearings required by law before the council is able to consider Valenti’s proposals: a fourth amended tax increment financing project plan and a request for the creation of a slightly altered community improvement district.In a presentation to the council, Valenti emphasized the benefit to Mission’s tax roles of having the Gateway development up-and-running, saying that Mission would see more than $1 million in new revenue starting around 2020 — though he included nearly $600,000 per year in stormwater infrastructure debt repayments his company owes the city in that figure.Valenti’s figures show that once the TIF period expires after 20 years, the city can expect around $4 million in annual revenue from taxes and fees generated by the development.Valenti had no new information to report about the tenant mix the city could expect to see in the development since he last appeared in Mission two months ago, save to say that the company was making “excellent progress in our leasing efforts.”“We are getting closer to finalizing some additional deals,” he told the council. “We had some excellent meetings as recently as last night and one again today. But we’re not done yet and we’re not ready to announce.”The current plan calls for the construction of two large buildings on the east side of the property. One would have an “entertainment” tenant. Potentials uses of the other building have not been revealed.Councilmembers gave no indication of whether Valenti would have the support he needs when the governing body votes on the project plan and CID districts at its Sept. 20 meeting, engaging in no serious dialogue with him during the hearing. Just one member of the public spoke before the hearing was closed, questioning whether Valenti’s 20-year financial projections held water.You can see the full deck Valenti used in his presentation to the council embedded below:[gview file=””]last_img read more

Stealth Acoustics to Launch EMEA Version of Stingray Outdoor Speaker at ISE 2020

first_imgAt ISE in Amsterdam, Stealth Acoustics is debuting its new 8” 3-way StingRay outdoor speaker — the StingRay 83 — to the European market. Alongside this launch product will be a selection of invisible speakers and subwoofers from the LRG and LRX product lines on stand 5-R96.The StingRay 83 is a 300-watt speaker that is specified for bass response down to 40Hz, with a smooth midrange and solid upper frequency. It features a 30-millimeter midrange device, a 25-millimeter tweeter and an 8″ high-power cone woofer in combination with Stealth’s Fidelity Glass Advanced flat front radiating surface to give wide dispersion within a hermetically-sealed enclosure.The StingRay 83 is completely sealed off from the elements. It is constructed using high strength UV protected fiberglass and marine-grade, fiber-infused ASA plastics, meaning the speaker is completely sealed against intrusion from any outside elements. It has an Ingress Protection rating of IP-68 per international CEI/IEC 60529 standards. No moisture, salt or sun will affect the unit, nor will it ever rust or discolor over time, making it ideal for exceptional audio performance in harsh, superyacht or outdoor environments. This new speaker is available in standard black, white or with a custom graphic wrap finish.The Stealth Acoustics listening area will feature the LRx83 and LRx85 high-performance, expert-grade invisible speakers that provide sound quality, frequency response and output levels usually reserved for only the best visible speakers. Incorporating advanced carbon fiber materials, new lamination processes and enhanced driver sets, these speakers offer impeccable audio performance and the aesthetic benefits that only true invisibility can offer.The two-panel system, which replaces a segment of a flat wall or ceiling with a paintable, non-penetrable flat front speaker system, incorporates five mid-range/high-frequency drivers mounted in a unique dual-D’Appolito alignment for noticeable improvement in left/right panoramas and depth of sound stage.A number of products from the LRg family of cost-effective and proven invisible loudspeakers, which includes the LR6g, SLR8g, LR8g and LR3g models, will also be on display in the listening area. These speakers offer extremely broad coverage and ultra-smooth extended frequency response. Stealth Acoustics’ B22g and B30g invisible subwoofers will also be on display for visitors to experience. Delivering bold bass output for extra impact with zero aesthetic pollution, these subwoofers provide exceptional bass and room coverage with frequencies extending as low as 20Hz.Here are more specs.Here’s a video we shot at CEDIA Expo 2019 about Stealth Acoustics Sting Ray 83:last_img read more

Penray Promotes Tina Pawelczak to Marketing Manager

first_imgDeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.  With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit.  LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement ELK GROVE VILLAGE, IL — Tina Pawelczak has been promoted to marketing manager at Penray. AdvertisementClick Here to Read MoreAdvertisement As marketing manager, Pawelczak will be responsible for helping Penray improve its overall market strategy and product position. She will also be a key element in the development of new products, from inception to distribution. Pawelczak has held various positions at Penray since joining the company 15 years ago. Most recently, she held the position of sales and service manager, where she coordinated and stabilized Penray’s pricing and margins. Pawelczak is based in Penray’s sales and marketing office in Elk Grove Village, IL. She resides in McHenry, IL, with her husband Ron. For more information about Penray, visit:,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisement DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain.last_img read more

Bonanza for lawyers – it’s all in the angle

first_imgI came across an article on the Telegraph website the other day which is almost certain to outrage hardworking lawyers – but hey, I’ll force it upon you anyway because once we get over the annoyance, there’s a lot to be learnt from it.The article was about the latest employment tribunal statistics which show a large rise in the number of people making claims. How would you imagine such a story would be written? Well, a simple, factual approach might be something like: There has been an increase in the number of employment tribunal claims …. That’s the sort of dry approach taken by the Employment Tribunal Service itself in its press release. It’s a bit boring though. How could it be spiced up? Here’s how the Telegraph approached it: Rocketing employment tribunal numbers prove a windfall for lawyers but bad news for employers who feel compelled to settle out of court whatever the merits of the claim. Nick Kehoe is a former television and newspaper journalist. He is now managing director at law marketing firm Media Coverage Another line says: ‘Claimants are said to be opting for legal representation to improve their chances of winning bigger awards …’. The implication being that there’s something unfair about hiring a lawyer to protect your interests. The article continues in that vein of the poor oppressed employer, greedy worker and even greedier lawyers who are ‘benefiting from a big increase in business’. Now I’m sure that being presented as fat cat lawyers boosting their business through the misfortune of others will be quite irritating to most solicitors. If you have seen business diminish over the last few years, maybe seen colleagues lose their jobs or even seen law firms close down, then it’s going to be galling to be presented as if you’re raking it in from dodgy employment claims. But let’s leave the annoyance aside for a moment and see if there’s anything we can learn from this. It’s not for me to speculate about the Telegraph’s agenda but clearly they didn’t think the bare facts of the story were sufficient to grab the reader’s attention. Their response, as will always be the case with the media, was to find an angle that would appeal. In this case, they focused on bonanza time for lawyers. On another day or if another one of their staff had written the story, they might have concentrated more on the claimants themselves – along the lines of whether they are playing the system with bogus claims. They could find any one of a dozen different angles but they will all have one thing in common – they will try to inspire an emotional reaction. It could be anything from anger to aspiration but it will always be there because emotion engages people and makes them want to read on. Could you as lawyers do the same when writing blog posts or website articles to market your firm? Why shouldn’t you? Just as the devil shouldn’t have all the best tunes, neither should the media have all the best angles. Let me say straightaway that I am not advocating any distortion or twisting of the facts here. I’m just pointing out that in most major legal developments there are numerous themes to be explored. It makes sense that you should concentrate on the theme that matters most to you and reflects the legal services you offer. For example, if you are an employment lawyer who specialises in representing claimants then the tribunal statistics offer you a good marketing opportunity. Your angle might be along the lines of: ‘More and more people are seeking legal advice when threatened with redundancy or unfair treatment at work’. This puts the concept of seeking legal advice in people’s minds. It offers them the comfort of knowing that lots of others are consulting solicitors so why shouldn’t they? Your article could go on to quote the figures and then discuss the benefits of consulting a specialist solicitor when faced with a problem at work. A solicitor will increase their chances of getting a better settlement – and so on. The emotions being aroused include reassurance that approaching a solicitor is the right thing to do and the aspiration that getting legal advice means a better pay-out. Of course, if you specialise in representing employers then you will need to take a different angle and inspire different emotions. Fear, I suppose, is the obvious choice. You could try something like: ‘Employers need to protect themselves against the increasing threat of costly tribunal claims.’ This time, instead of the employee’s aspiration to win a big settlement, you evoke the employer’s dread of having to pay out money he can scarcely afford at a time when his business may already be struggling. You can explain how you can help him put employment policies in place to reduce the risk of costly claims. Whatever angle you take, the facts remain the same and they aren’t distorted in any way. They’re just approached from different points of view depending on the kind of client you are targeting. This approach can be applied to any article and make your writing much more effective when marketing your legal services. center_img Visit the Gazette’s blogs page for more In Business blogs Bonanza for lawyers in tribunal cases last_img read more

CSB Lady Blazers hot in NCAA Volley

first_imgMANILA – College of St. Benilde LadyBlazers continued its hot streak after defeating Letran Lady Knights in theNCAA Season 95 Women’s Volleyball on Monday at the San Juan Arena. Chelsea Umali scores seven points built on five attacks, a block and an ace in action against Letran Lady Knights. TIEBREAKER TIMES PHOTO Rookies Gayle Pascual and Mycah Go, aswell as Chelsea Umali fronted the Lady Blazers to finish the match in threeeasy sets, 25-20, 25- 18, 25-15, and claim the solo first place in thestandings at 3-0. “Sinasabi lang naman nicoach Jerry [Yee] na per game ang focus namin. Dapat give lang ng one-hundred-percent namin,” Lady Blazers assistant coach JayChua said. Umali top-scored with seven points built on five attacks, a block, and anace, while Michelle Gamit, Jade Gentapa, and Klarisa Abriam supplemented sixmarkers each. Pascual, Go, Kaila Miranda and Marites Pablo chimed in fivemarkers apiece for the Lady Blazers.center_img Over the weekend, the LadyBlazers survived a tough stand by the Lyceum Lady Pirates for a 23-25,25-23, 23-25, 25-18, 15-7 victory. On the Lady Knights’ part, theirdefeat came days after opening their Season 95 campaign with a 22-25, 25-10,25-18, 25-13 triump over Emilio Aguinaldo College Lady Generals. In the other volleyball results, SanBeda University Red Lionesses edged Jose Rizal University Lady Bombers, 25-17,22-25, 25-27, 25-14, 15-6, while University of Perpetual Help Lady Altas fendedoff San Sebastian College-Recoletos Lady Stags, 29-31, 25-13, 25-20, 25-20./PNlast_img read more

‘Unhurried’ – Club taking their time over selling player to Everton,…

first_imgBarcelona are in no rush to sell André Gomes, and are ‘unhurried’, the Spanish media reports today. RAC1 (via Sport) claims that although Everton are looking to find a deal with the Catalan side as soon as possible, Barça want to wait until the end of the spell to negotiate for him.The reason for it is because Barça may benefit from the situation.With Gomes currently impressing for the Toffees, the expectation is that they will have many offers for him in the summer.Signed by Everton on a loan with a €2.25m fee last summer, Gomes first struggled a bit with an injury, but was quick to find his place in the team when fit, having started in the Toffees’ last eight games in the Premier League.This news comes at the same time as Tottenham’s interest in the player was reported, so it’s no surprise if Barcelona try to make an action for the midfielder next year.On the Spurs interest, the club have been linked repeatedly for years, often seemingly for no better reason than them being linked Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksTrending TodayForge of Empires – Free Online GameIf You Like to Play, this City-Building Game is a Must-Have. No Install.Forge of Empires – Free Online GameUndoRaid: Shadow Legends | Free DownloadEven Non-Gamers Are Obsessed With This RPG Game (It’s Worth Installing!)Raid: Shadow Legends | Free DownloadUndo聽多多 Hearmore.asia1969年前出生的香港居民現可免費試戴頂尖的歐洲助聽器聽多多 Hearmore.asiaUndoKeto减肥1個簡單的妙招一夜「融化」腹部贅肉(今晚試試)Keto减肥UndoCNBC InternationalHere’s How Big Businesses in Singapore Are Managing the Impact of COVID-19.CNBC InternationalUndoPerfect-Dating.comReveal Tung Chung As The Best City to Date for Love & RomancePerfect-Dating.comUndoDating.comThe Most Handsome Men In Hong Kong On This Dating SiteDating.comUndoStanChart by CNBC CatalystWill Blockchain Reduce the Global Trade Finance Gap to Reach the UN’s Sustainable Development Goals?StanChart by CNBC CatalystUndoCoworking Space | Search AdsThe cost of shared office in Hong Kong might surprise youCoworking Space | Search AdsUndolast_img read more

Porto Seal Eder Militao Transfer From Sao Paolo

first_imgPortuguese Super League champions FC Porto have completed the transfer of Brazilian defender Eder Militao from Sao Paulo.The 20-year-old becomes the latest acquisition at the Estadio Dragao after putting pen to paper on a five-year deal.Eder Militao joined Sao Paulo at the age of 12 and thereafter worked his way through the ranks before breaking into the first team at the start of last season.The former Brazil U17 star represented the country’s youth team on five occasions.The Sao Paulo Academy graduate is a utility player as he can effectively play in three positions namely centre back, right back and defensive midfield.Relatedlast_img

Arsenal spark keen interest in Ajax youngster David Neres

first_imgAdvertisement miNBA Finals | Brooklyn Vsy2knfWingsuit rodeo📽Sindre E4s9c( IG: @_aubreyfisher @imraino ) 8mcpr0Would you ever consider trying this?😱1dCan your students do this? 🌚1i2yjRoller skating! Powered by Firework Ajax winger David Neres has been lighting up the Eredivisie and the Champions League with stellar displays on the field, and Arsenal are keen on signing the youngster in the summer. The Gunners will be sending a scout to Turin to personally scope him as Juventus host the Dutch side in the Champions League tonight. Advertisement 22-year old David Neres showed his worth in the Champions League alone as he aided Ajax in dumping reigning champions Real Madrid 5-3 agg. out of the competition, scoring once and assisting once over both legs. The winger also scored Ajax’s lone goal in their 1-1 draw at the Johan Cruyff Arena against favorites Juventus, giving the Dutch side a fighting chance in Europe’s elitemost competition.Neres’ heroics haven’t gone unnoticed in the world, garnering attention from PSG, Liverpool, Manchester United and Arsenal. However, the Gunners appear to be a bit too keen on signing the Brazilian winger, who is priced at €35-40m.Advertisement Arsenal will be sending a scout to Italy to watch the Ajax star as the Eredivisie toppers travel to Turin to face Juventus.Neres has 12 goals and 15 assists to his name this term so far, with 8 goals and 11 assists coming off in the Eredivisie alone as Ajax sit at its summit with 74 points and 4 games left to play.Advertisement Read also:-Juve aim to bring in Joao Felix at the expense of DybalaBarcelona entice de Ligt to join club, offer bountiful contract till 2024 Advertisementlast_img read more

Maddock takes maternity leave

first_imgBy DAVID NAGEL SENL ROUND 1 – PREVIEW BERWICK’s mid-court maestro Sarah McDermott will feel a little lost this Saturday…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img