 Copyright
Notice to Readers  What's New
Guide to Accounting Pronouncements and Sources, Sixth Edition
Significant Differences in GAAP in Canada, Chile, Mexico and the United States
Accounting and Reporting for Enterprises in the Development Stage
Accounting Bases Used in Canadian Government Budgeting
Accounting Changes — Background Information and Basis for Conclusions Section 1506
Accounting for Infrastructure in the Public Sector
Accounting for Tangible Capital Assets — Accrual Budgeting Issues
Accrual Budgeting by Canadian Federal, Provincial and Territorial Governments
Aligning Investment in Information Technology with Business Strategy: What CFOs Need to Consider (June 2005)
Application of Computer-assisted Audit Techniques, Second Edition
 Assessing Risks & Controls of Investment Funds
Foreword Study Group Executive Overview Summary of Conclusions Chapter 1 — Introduction Chapter 2 — Nature of Business Strategic Management Operating Environment Regulatory Environment Marketplace Environment Chapter 3 — Investment Fund Governance Leadership Stewardship Responsibility Accountability Chapter 4 — Investment Fund Operations Agency Relationships Valuation of Securities Chapter 5 — Investment Fund Operations (Continued) Fund Accounting Information Systems Chapter 6 — Investment Fund Compliance Legal and Regulatory, Industry Practices and Taxation Chapter 7 — Investment Fund Compliance (Continued) Audit of Financial Statements Compliance with National Instrument 81-102 Prospectuses and Annual Reports Other Assurance Services Chapter 1 — Introduction Purpose of the Report About Investment Funds Accountability to Investors Integrated Risk Management Chapter 2 — Nature of Business Strategic Management Performance Client Service Product Development Sales and Marketing Integrity Operating Environment Governance Structure Operating Structure Business Continuity Regulatory Environment Legal Structure Compliance Requirements Marketplace Environment Competition Information Technology Product Complexity Distribution Strategies Financial Risks Managing market risk Managing liquidity risk Materiality Considerations Fund Auditor Perspective Assessing misstatements Planning materiality Documenting materiality Fund Regulator Perspective Fund Management Perspective Disclosure of financial and other information Pricing errors Audit Considerations Chapter 3 — Investment Fund Governance Cornerstones of Effective Governance Leadership Independence of the Governing Body Relevant research Assessing the independence of the governing body Effectiveness of the Governing Body Relevant research Assessing the effectiveness of the governing body Stewardship Mandate of the Governing Body Relevant research Assessing the mandate of the governing body Ethics Program Relevant research Assessing the ethics program Responsibility Oversight of the Fund Manager (Senior Management) Relevant research Assessing oversight of the fund manager (senior management) Risk management Relevant research Assessing risk management Accountability Audit Committee Role Relevant research Assessing audit committee role Communications Relevant research Assessing communications Chapter 4 — Investment Fund Operations – Part I Agency Relationships Investment Adviser Distributor Custodian Transfer Agent Processing of sales and redemptions Processing dividends / distributions Maintaining tax filing records Trust accounting Objectives, Risks and Control Measures Audit Considerations Custodian Transfer agent Sales and redemptions of fund shares / units Settlement of sales and redemption transactions Reconciliation of shares / units outstanding Dividends to shareholders / unitholders and reinvestments Recordkeeping for individual shareholder / unitholder accounts Other considerations Valuation of Securities Basic Methods of Valuation Securities Valued in Good Faith Special Circumstances Affecting the Valuation of Securities Securities that have halted trading Foreign securities Foreign government actions Illiquid securities Money market securities Early market closings Foreign exchange rates Objectives, Risks and Control Measures Audit Considerations Pricing feeds Valuation models Other considerations Chapter 5 — Investment Fund Operations – Part II Fund Accounting Recording Investment Transactions Investments Cash Recording Income and Expenses Income, including related gains and losses Expenses Related party transactions Business combinations Recording Shareholder / Unitholder Equity Net Asset Value (NAV) Calculation Correction of NAV pricing errors Performance Reporting Objectives, Risks and Control Measures Audit Considerations Cash Expenses and accrued liabilities Information Systems Daily Pricing Reliance on Technology and External Parties Contingency Planning Objectives, Risks and Control Measures Audit Considerations Controls over access to computerized processing functions and related data records Controls over the accuracy and completeness of data entered for processing Controls over rejected transactions and suspense items Controls to ensure complete and accurate processing of transactions and related information in the proper period Chapter 6 — Investment Fund Compliance – Part I Legal and Regulatory Investment Objectives and Restrictions Investment objectives Investment restrictions Asset Valuation and Daily Pricing Safeguarding of Assets Custodianship of portfolio assets Trust accounts Reporting and Disclosures Sales Practices Objectives, Risks and Control Measures Audit Considerations Industry Practices Generally Accepted Accounting Principles (GAAP) Investment Funds Institute of Canada (IFIC) Association for Investment Management and Research (AIMR) Canadian Life and Health Insurance Association (CLHIA) Objectives, Risks and Control Measures Audit Considerations Taxation Unit Trusts and Mutual Fund Trusts Segregated Funds Mutual Fund Corporations Objectives, Risks and Control Measures Audit Considerations Chapter 7 — Investment Fund Compliance – Part II Audit of Financial Statements Compliance with National Instrument 81-102 Prospectuses and Annual Reports Investment Fund Prospectuses Investment Fund Annual Reports Other Assurance Services Appendix A — Investment Fund Risk / Control Framework Appendix B — Overview of Regulatory Requirements Appendix C — Illustrative Investment Fund Financial Statements Example of a Statement of Net Assets Example of a Statement of Portfolio Investments Example of a Statement of Operations Example of a Statement of Changes in Net Assets Example of a Statement of Financial Highlights Example Notes to Financial Statements (adapted from current practice) Appendix D — Illustrative Management Representation Letter Appendix E — Control Measures for Investment Fund Information Systems Portfolio Management Control Measures Investment Transactions Investment Income / Loss Transfer Agent Control Measures Sales and Redemptions Shareholder / Unitholder Equity Appendix F — Using the Internet to Perform More Efficient Audits Glossary Selected Bibliography Asset Retirement Obligations - Background Information and Basis for Conclusions Section 3110
Assurance Engagement Working Papers
Audit & Control Implications of XBRL
Audit Enquiry - Seeking More Reliable Evidence From Audit Enquiry
Audit Implications of EDI
Audit Implications of Electronic Document Management
Audit of a Small Entity
Audits of Non-profit Organizations
Canadian Performance Reporting
Cash Distributions — Amendments to Section 1540 — Background Information and Basis for Conclusions (September 2007)
Cash Flow and Other Per Share Information - Background Information and Basis for Conclusions Sections 1540 and 3500
Cash Flow Statements - Background Information and Basis for Conclusions - Section 1540
Comprehensive Income and Equity - Background Information and Basis for Conclusions Sections 1530 and 3251
Confirmation of Accounts Payable
Confirmation of Accounts Receivable
Continuous Auditing
Corporate Reporting to Stakeholders
Costing Government Services for Improved Performance Measurement & Accountability
Data Level Assurance
Differential Reporting - Background Information and Basis for Conclusions - Section 1300
Differential Reporting — Amendments to Section 3062 and AcG-15 — Background Information and Basis for Conclusions
Disclosures by Entities Subject to Rate Regulation - Background Information and Basis for Conclusions AcG-19
Disposal of Long-Lived Assets and Discontinued Operations - Background Information and Basis for Conclusions - Section 3475
Electronic Audit Evidence
Electronic Filing and Reporting - Emerging Technologies and Their Implications
Electronic Filing of Information
Employee Future Benefits - Additional Disclosures - Background Information and Basis for Conclusions - Section 3461
Employee Future Benefits Implementation Guide, Second Edition (Updated November 2001)
Engagements to Audit Greenhouse Gas Emissions Information — Practice Guide
Financial Instrument Disclosures and Capital Disclosures - Background Information and Basis for Conclusions Sections 1535, 3862 and 3863 (July 2007)
Financial Instruments - Recognition and Measurement - Background Information and Basis for Conclusions Section 3855
Financial Instruments — Recognition and Measurement — Background Information and Basis For Conclusions Amendments to Section 3855 (December 2009)
Financial Reporting by Canadian School Boards
Financial Reporting by Investment Funds, Second Edition
Financial Reporting by Rate-regulated Enterprises
Financial Reporting by Small Business Enterprises
Financial Reporting in North America - Highlights of a Joint Study
The First Audit Engagement
Full Cost Accounting from an Environmental Perspective
General Standards of Financial Statement Presentation - Background Information and Basis for Conclusions - Section 1400
Generally Accepted Accounting Principles - Background Information and Basis for Conclusions - Section 1100
Going Concern - Amendments to Section 1400 - Background Information and Basis for Conclusions (June 2007)
Guide for Developing Quality Control Systems in Public Accounting
Hedges - Background Information and Basis for Conclusions Section 3865
The Impact of Technology on Financial and Business Reporting
Impairment of Long-Lived Assets - Background Information and Basis for Conclusions - Section 3063
Improving Disclosures About Financial Instruments (Amendments to Financial Instruments — Disclosures, Section 3862) (June 2009)
Income Taxes - Background Information and Basis for Conclusions - Section 3465
Indicators of Government Financial Condition
Intangible Assets — Background Information and Basis for Conclusions Section 3064 (September 2008)
Interactive Data — Building XBRL Into Accounting Information Systems
Interim Financial Statements - Background Information and Basis for Conclusions - CICA Handbook – Accounting Section 1751
Inventories - Background Information and Basis for Conclusions Section 3031 (June 2007)
Investment Companies - Background Information and Basis for Conclusions - AcG-18
Investment Companies - Amendments to AcG-15 and AcG-18 - Background Information and Basis for Conclusions (June 2007)
Liabilities and Equity - Background Information and Basis for Conclusions - Section 3860
Links between the Budget and the Estimates — Accrual budgeting Issues
Maintaining Quality Capital Markets Through Quality Information
Non-Monetary Transactions - Background Information and Basis for Conclusions Section 3831
Not-for-Profit Financial Reporting Guide
Not-for-Profit Organizations — Background Information and Basis for Conclusions 4400 Series (November 2008)
Professional Judgment and the Auditor
Rate-Regulated Operations — Amendments to Sections 1100 and 3465 and AcG-19 — Background Information and Basis for Conclusions (December 2007)
Reporting on Environmental Performance
The Role of Information Technology in Achieving Sustained Regulatory Compliance
Secure IT Infrastructure for E-commerce
Security for Wireless Systems (revised)
Segment Disclosures - Background Information and Basis for Conclusions - CICA Handbook Section 1701
Stakeholder Relationships, Social Capital and Business Value Creation
Understanding Disclosure Controls and Procedures: Helping CEOs and CFOs Respond to the Need for Better Disclosure
Use of Specialists in Assurance Engagements
Using Graphics in Corporate Reporting
| 
