Surviving the twilight zone

Article Abstract:

Accountants who provide tax consulting services may already be practising law since the delineation between the two has never been clear. Accountants need to be careful when providing tax consulting services since they may be commiting an offence under the Law Society Act as well as found guilty of negligence for providing services they are not qualified for. Thus, the knowledge and examination of the standards set for tax professionals and the causes of liabilility will enable accountants to prepare for the situations where difficulties may arise.

Author: Rossiter, James
Accounting, auditing, & bookkeeping, Tax return preparation services

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Feds revise financial sector legislation

Article Abstract:

Finance Canada has issued the '1997 Review of Financial Sector Legislation: Proposals for Changes' report. The report states that the legislative framework for the financial services sector created in 1992 will remain unchanged although an assessment of the payments system is recommended. The report also proposes amendments to laws such as the Bank Act, Trust and Loan Companies Act and Bank of Canada Act.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Accounting Services Regulation, Canada, Accounting services, Accounting law

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Taxing questions

Article Abstract:

The issue of the liability of tax accountants who advise research and development partnerships towards investors is discussed, with reference to the case of Meese v. Corporation financiere Globex, heard in the Superior Court, Canada.

Author: Lefebvre, Helene
Cases, Practice, Canada. Customs and Revenue Agency

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Subjects list: Laws, regulations and rules, Tax consultants, Accountants
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