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The Ledger, Jan. 28: The week that was in Canadian accounting news

IFRS goes up in smoke, Trudeau taps TPP, Trump turns again on trade

Author: Colin Ellis

TORONTO, Jan. 28, 2018 – Canadian Accountant's weekly round-up of Canadian accounting news stories:

Pot Accounting Goes Up In Smoke

Who else but the legendary Al Rosen could dominate a news cycle with a lesson in accounting? In the course of one week, Rosen critique on IFRS and the marijuana sector was reported in Maclean’s, Bloomberg, the Globe and Mail, Canadian Business and others. 

The interesting aspect of all of this is that marijuana executives themselves say that IFRS doesn’t work for their sector. Of course, Canadian Accountant was the first to report on the issue, back in August of 2017! 

Canada Signs Revamped TPP as NAFTA Goes Nowhere

Canada signed a revamped Trans-Pacific Partnership as insurance for NAFTA collapsing. The usually conservative Global News actually praised Trudeau. By the end of the week, Davos-bound Donald Trump, noting Mexico and Canada were now TPP members, was openly talking of rejoining the TPP deal.  

Tory Leader, CPA, Caught in #MeToo Movement

The resignation of Ontario Opposition Leader Patrick Brown over sexual harassment allegations dominated Canadian political news during the week. But almost lost in the glare was the resignation of Nova Scotia’s Conservative leader, Chartered Accountant Jamie Baillie, as well.  

CPA Canada Signs Global Agreements

In case you’re thinking about moving to the UK, Australia or South Africa, good to know that CPA Canada has signed new Reciprocal Membership Agreements with the chartered accountants bodies in those countries.

Colin Ellis is editor-in-chief of Canadian Accountant.

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