AFP Publications

Canadian Treasury Management, First Edition Members: $110.00 Non-Members: $110.00 Format: Book

Summary

Canadian Treasury Management, Third Edition focuses on the Canadian financial and banking systems, the differences between the U.S. systems in reference to e-commerce; e-payments; credit collection; governance and compliance. This Canadian body of knowledge is the source for all Canadian content questions on the CTP examination.

Use with the AFP Learning System?: Treasury program or Essentials of Treasury Management®, First Edition when preparing for the CTP with Mastery in Canadian Treasury Management. Current CTP holders will need only the Canadian Treasury Management, Third Edition to prepare for the Canadian module. AFP Learning System: Treasury program and Essentials of Treasury Management® do not include Canadian treasury content.

You should study chapters 3, 9 and 14-21.

Excerpt

Comparison of Canadian Requirements to Sarbanes-Oxley
The inexorable enhancement of governance rules in Canada was overtaken by the reforms of the Sarbanes-Oxley Act in 2002. Sarbanes-Oxley initially accelerated the pace of Canadian reforms, but then resulted in some back-tracking as some elements of Sarbanes-Oxley appeared to have been implemented in ways that were much more complex and costly than anticipated by the rule-makers.

Numerous unintended consequences from Sarbanes-Oxley have been evident. The Final Report of the Advisory Committee on Smaller Public Companies to the U.S. Securities and Exchange Commission (draft dated February 2006) noted the following problems with respect to Section 404 of the Sarbanes-Oxley Act:

• lack of clear guidance;
• an unfamiliar regulatory environment that leads to overly conservative judgments and a focus on detailed control activities by auditors; and
• lack of sufficient resources and competencies in an area in which companies and auditors have not previously placed great emphasis.

As a result, Canadian regulators have stated that they intend to learn from the experience of the United States, and have deferred harmonization in certain areas.

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