2010 – Business and Financial Crises: Some urgent Priorities for Accounting and Accountants

According to the late John Kenneth Galbraith, the famous Canadian economist, economic crises are a basic component of the expanding and contracting cycles that characterize a market economy.

However, nowadays, economic crises seem to be occurring with alarming frequency and great depth. In addition, these crises seem to be more disruptive and have more harmful consequences that impact corporations, their stakeholders, and society in general.

Historically, accounting has played a leading role in managing a firm’s activities in order to keep them in balance and ensure the firm’s prosperity and sustainability. Business continuity has also been recognized as an important accounting principle, as reflected in the going concern assumption. Lately, however, these traditional roles played by accounting seem to have been challenged.

The present crises offer very timely opportunities for accounting and accountants to reflect, innovate and reengage in a number of areas to help revive and redirect the economy. For example, what role should accounting and accountants have in: risk management and strategic development; performance measurement and monitoring; protecting company assets and shareholders wealth; and promoting good governance, transparency and disclosure?

This conference provides an opportunity for accountants and business professionals to explore urgent priorities for the profession to ensure its ongoing relevance in a turbulent and challenging environment. In particular, this conference addresses ways that accounting and accountants may be encouraged to play more proactive roles in preventing, managing and solving future business crises.

Keynote Speaker:

Do Accountants Need an Avatar Experience?
Carl Zehr, FCGA, Mayor, Kitchener, Ontario, Canada

Speakers:

Integrity in Financial Reporting: Why and How
Gary L. Sundem, Professor, Foster School of Business, University of Washington, USA

A Time for Truth
Michelle Causton, Professor – Canadore College, Lecturer-Nipissing University, Ontario, Canada

Causes and Consequences of the Financial Crisis
Andrey Pavlov, Professor, Simon Fraser University, British Columbia, Canada

Corporate Governance
David Conklin, Lawyer company Goodmans, Lecturer-Schulich MBA program, Ontario, Canada

Proceedings

Table of Contents

Do Accountants Need an Avatar Experience?
by Carl Zehr

Integrity in Financial Reporting: Why and How
by Gary L. Sundem

A Time for Truth, On Fair and Full Financial Statement Disclosure
by Michelle Causton

Corporate Governance Working Toward a New Set of Objectives
by David Conklin

Photo gallery