Chartered Professional Accountants of Canada (CPA Canada), one of the largest national accounting organizations in the world, has chosen to become a founding partner of ThinkTwenty20.
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Ransomware is continuing to plague many organization, particularly those with large holdings of sensitive data, like educational institutions and government departments. A Ransomware attacker gains entry into a victim’s system, encrypts their files and then demands a ransom payment from the victim before providing the encryption key to enable the victim to gain access to their own files. The costs can range from a few hundred dollars to many thousands or even millions, often payable in Bitcoin. https://thinktwenty20.com/index.php/blog-issues-forum
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A comprehensive review of the governance and structure of standard setting in Canada has been launched by AASOC and AcSOC to ensure the Canadian standards setting process remains relevant to stakeholders and takes into consideration recent changes in the international arena. https://thinktwenty20.com/index.php/blog-issues-forum/606-potentially-ground-breaking-canadian-standard-setting-review-is-launched
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In his most recent posting in the ThinkTWENTY20 ESG blog, Alan Willis describes the Continued Acceleration in Planetary Alignment Toward International Standards for Reporting on Sustainability. Corporate reporting is evolving with lightning speed. Read the posting here: https://thinktwenty20.com/index.php/604-%20ifrs-for-esg-continued-acceleration-in-planetary-alignment-toward-international-standards-for-reporting-on-sustainability
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In KPMG’s 2020 Canadian CEO outlook report, it was found that 76 percent of Canadian CEOs agree they need to take a lead role on societal issues, and 64 percent say the pandemic has shifted their focus to the social component of ESG.
A recent article by Roopa Dave, partner in KPMG, on the KPMG website provides good evidence of the growing importance of social and environmental issues in corporate reporting and indeed in their social contract. Significant change took place in 2020. For more, click here.
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In a major step forward for ESG reporting, The European Commission has adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), to replace its current Non-Financial Reporting Directive (NFRD). The CSRD will require the use of Inline XBRL (iXBRL) and marks a new chapter in environmental, social and governance (ESG) disclosure. It was announced as part of a sustainable finance package intended to foster sustainable activity. For more, click here.