CICA - Information Technology Advisory Committee

The Information Technology Advisory Committee (ITAC) of the Canadian Institute of Chartered Accountants (CICA) was established in 1991 by the CICA's Research Studies Department. A four-person committee was set up to help the CICA Studies and Standards Group keep abreast of the potential impact of technological developments on Canadian accounting and auditing standards, practices and methodologies. Throughout the 1990s, ITAC's focus was assisting the auditing profession, since technology had made it possible for auditors to implement procedures not possible previously, because of time constraints and costs. Today, ITAC is made up of representatives from accounting firms, financial institutions, government and academe. They meet four times a year for a one-day meeting and conference calls are scheduled as needed. ITAC’s focus is broader than advising on national accounting and auditing standards (see About ITAC). Notably, it provides advice and prepares guidance on information technology matters affecting the CA profession and the business community (see ITAC Recent Activities and ITAC Publications). A history of ITAC is provided in the CAmagazine article, "Behind the Committee" published in January/February 2004.

About Web 2.0 and Social Media

Recently, corporate Internet communication strategies have begun to include Web 2.0 technologies and applications, as well as social media tools, because they are rapidly changing the way companies conduct business and communicate business performance. Although the term "social media" is widely used, there are different points of view about what it actually means. Put simply, the Internet of the 1990s was about static, information-based content and a clear separation between content provider and end user. Web 2.0 and social media offer richer content based on collaboration and information sharing, encouraging end users to be more interactive with the content they access and more proactive about producing their own Web content. For an in-depth review, refer to the Trebor Scholz presentations, “How the Social Web Came to Be (part 1),” covering the years from 1945 to 2001, and “How the Social Web Came to Be (part 2),” covering the period from 2002 to 2007. Also refer to the June 2010 discussion draft "Practical Guidance for Managing Web 2.0 and Social Media" which is available on the CICA website as part of the research project "Using the Internet in Corporate Reporting."

Archive-It web archiving and preservation

Archive-It, a web archiving and preservation service, allows institutions to build and preserve collections of digital content. It is used by a number of Canadian universities, such as the University of Toronto and the University of Waterloo. Through a user-friendly web application, Archive-It partners can harvest, catalog, manage and browse their archived collections. Collections are hosted at the Internet Archive data center and are accessible to the public with full-text search.

Bank of Canada - Celebrating 75 years

The Bank of Canada opened its doors in Ottawa on March 11, 1935, during the Great Depression. Its role was set out in the Bank of Canada Act of 1934: "to promote the economic and financial welfare of Canada." Shares of the privately-owned bank cost $50 but, in 1938, the Canadian government bought out shareholders and nationalized the bank. Today, the bank operates accounts only for the Canadian government, other central banks and commercial banks. To mark its 75th anniversary, the Currency Museum of the Bank of Canada has inaugurated a new exhibition which looks at the Bank and its history from the perspective of outside observers - journalists, cartoonists, headline writers, economists, politicians, government-appointed commissions, and the public at large. Visit the online exhibit By All Accounts: 75 Years of Central Banking.