About the Community Video Archive

The Internet Archive contains a section on Moving Images which is called “Community Video.” It was originally named “Open Source Video.” At present, this archive contains 149,895 items. Everyone is invited to view or upload videos to the Community collection.

Contributed by Archive users and community members, these videos are available for free download. Users can browse by title, author, collection, subject/keywords, language, date and creator. An RSS feed is also available. For a sample, see the “Earth Time Lapse View from Space” (5 minutes) which is also embeded below for ease of access.

CICA - Materiality in Auditing: An Audit Technique Study (1965)

In 1965, the Canadian Institute of Chartered Accountants (CICA) first published Materiality in Auditing: An Audit Technique Study. The Foreword to that study notes that: “One of the basic problems in conducting an audit is determining the extent of the examination. While the auditor must ensure that his examination has been in sufficient breadth and depth to warrant the expression of opinion on his client’s financial statements, he must plan his audit program wisely so that the cost of the service to the client is not excessive. Materiality plays an extremely important part in reconciling these two objectives."

"Although materiality has almost become a by-word in the profession, very little has been published to assist the auditor in applying the underlying concept to a particular situation. The Study Group, therefore, felt that this topic should be dealt with first, before proceeding to other topics of interest. The study should be of immediate interest to the members of the profession in public practice and should be a useful reference as future studies are published.”

“The reader should realize that this study discusses the concept of materiality primarily in relation to its effect on auditing procedures. The discussion has necessarily included some reference to the accounting consequences of materiality. But, the complex subject of accounting materiality as a whole - for instance as applied to consistency, classification or disclosure on financial statements - has not been dealt with.

“The members of the Study Group recognized at the outset that the application of the materiality concept rests on judgment - mature judgment based on experience. The consensus of the experience of the group has resulted in a series of guidelines which should be of help to the auditor. These guidelines are offered, not as substitutes for professional judgment but rather as stimulants to the reader by bringing to his attention the factors he should take into account in formulating his judgment.”

A Brief History of the Evolution of Accounting and Auditing Standards in Canada

Prior to 1951, the Canadian Institute of Chartered Accountants (CICA) was known as the Dominion Association of Chartered Accountants (DACA). It established an Accounting and Auditing Research Committee in 1946, which began issuing a series of bulletins setting out recommended standards of practice on accounting and auditing.


In 1968, it replaced the series of bulletins with a loose-leaf, subject-indexed Handbook that was periodically updated with inserts as the CICA’s committee issued new recommendations. Although the bulletins set out what the committee “considers to be the best accepted practice or its suggested treatment of new elements in accounting statements arising as a result of changes in social or economic conditions,” the recommendations contained in the Handbook were intended to possess greater force. Section 1500.06 in the Handbook, issued in November 1969, stated that any departures from the Handbook recommendations “should be explained in notes to the financial statements with an indication of the reason why the recommendation concerned was not followed.”

In 1975, the Canada Business Corporations Act added a degree of quasi-legislative authority to the Handbook, when Regulations 44 and 45 of the Act proclaimed:

44) The financial statements referred to in paragraph 149(1) of the Act shall, except as otherwise provided by this Part, be prepared in accordance with the standards, as they exist from time to time, of the CICA set out in the Handbook.

45) The auditor’s report referred to in Section 163 of the Act shall, except as otherwise provided by this Part, be prepared in accordance with the standards of the CICA set out in the Handbook.

In 1963, the CICA began publishing research studies on contemporary accounting and auditing topics. Since 1980, it has published a number of research studies on accounting and financial reporting, on auditing and assurance, and on environmental and performance reporting. Most are available as PDF downloads free-of-charge.

In 1991, the CICA replaced the Accounting Standards Committee and the Auditing Standards Committee with the Accounting Standards Board (AcSB) and the Auditing Standards Board. Later in that decade, the CICA Task Force on Standard Setting released its final report in May 1998, and among its recommendations was the establishment of an “independent standard setting organization for Canada.”

In addition, the CICA established the Accounting Standards Oversight Council (AcSOC) to support the setting of accounting standards domestically and to contribute to the development of internationally accepted standards. AcSOC’s mandate also includes providing opportunities for the public to comment on all aspects of accounting standard setting, and reporting to the public annually.

In 2005, a firm commitment was made to adopt International Financial Reporting Standards (IFRS), effective January 1, 2011. IFRS have now been incorporated into the CICA Handbook, along with International Auditing Standards (IAS).

The Official Duties of Chartered Accountants - 1891

A lecture called “The Official Duties of Chartered Accountants” was read before the Manchester Chartered Accountants' Students' Society on May 4, 1891. According to that lecture, the duties of a Chartered Accountant may be divided into three classes: Private, Public, and Official.

“By private duties I mean such as are due by a Chartered Accountant to his client when he is instructed to perform an audit or an investigation on behalf of a private association, a firm, or on behalf of individuals, either in their business or private capacity. His duty is then strictly confined to carrying out the instructions of his clients to the best of his professional skill and ability; when he has performed these his responsibilities are at an end.”

“The public duties of a Chartered Accountant have reference to those cases where he acts on behalf of persons who give him general but not definite instructions, and who leave him to carry them out according to his own ideas, in the full belief that he will do his duty in the interest of all concerned, and hold him responsible for so acting. These duties are such as are undertaken by accepting the appointment of Auditor of a public company, of voluntary Liquidator of a company, of Auditor of the accounts of a deceased person's estate on behalf of those interested, either in the division of the estate or in the income derived from investment of the same, and of an Arbitrator, while the official duties are those appertaining to offices or appointments held under the Courts of Justice, whether of the Chancery Division or the Queen's Bench Division of the High Court of Justice, or under the County Courts, and under the Board of Trade.”

“It is with the last class of duties that my lecture is concerned. The appointments under the Chancery Division of the High Court of Justice are those of Receiver, Receiver and Manager, Provisional Liquidator, Voluntary Liquidator under supervision of the Court, and Liquidator; the appointment under the control of the Queen's Bench Division of the High Court of Justice is that of Trustee in Bankruptcy. Under the Board of Trade, a Chartered Accountant may receive the special appointment as a skilled Accountant to assist a debtor against whom a Receiving Order under the Bankruptcy Act of 1883 has been made, in the preparation of his statement of affairs, and also to assist the directors or other officials of a company, after an order for winding it up has been made by the Court, in the preparation of a statement of affairs. He may also be appointed the Special Manager of the business of a debtor from the date of the Receiving Order until the appointment of, or rather certification of, a Trustee, or the approval of a scheme, and also the Special Manager of a company after a Winding-up Order has been made by the Court.”

(The full lecture about “The Official Duties of Chartered Accountants - 1891” is available online at Google Docs.)

The Evolution of US GAAP, Part II: 1973-2004

This article, the second of a two-part commentary about accounting standards setting, chronicles the rising importance of financial accounting standards in different sectors of the US economy, which has led to increasing special-interest lobbying for accounting standards with characteristics compatible with the desired outcomes. Financial accounting standards affect the US economy in many ways, both in the aggregate and in the distribution of income, wealth and risk. This commentary captures many of the key issues that have preoccupied standards setters, and especially identifies the efforts of the Financial Accounting Standards Board (FASB) to implement an asset-and-liability approach to recognition and a fair-value approach to measurement.

According to the author, “When a highly prescriptive standards setter is coupled with a rigorous enforcement process used by a government regulator to secure compliance with accounting standards, especially in a confrontational society such as the United States, companies and even branches of government will lobby the standards setter not to approve standards that interfere with their business plans and strategies. This is what has happened increasingly in the United States since the 1970s, and there is no sign that, on sensitive and controversial issues, it will diminish in intensity or frequency.”

(Read more in the article “The Evolution of U.S. GAAP: The Political Forces Behind Professional Standards (Part II)” by Stephen A. Zeff, PhD, in the February 2005 issue of The CPA Journal online.)

The Evolution of US GAAP, Part 1: 1930-1973

In 2005, The CPA Journal marked its 75th anniversary by publishing an assessment of the path of accounting standards setting over the previous 75 years. This commentary on the evolution of US GAAP was presented in two parts.

The first part covers the years from 1930 to 1973. The second part covers the years from 1973 to 2004. The focus is deliberately on incidents that represented important changes in practice or in the way in which accounting principles and standards were set.



Read about the history of US accounting standards in the article “The Evolution of U.S. GAAP: The Political Forces Behind Professional Standards” by Stephen A. Zeff, PhD, in the January 2005 issue of The CPA Journal online.

About the Canadian Institute of Chartered Accountants (CICA)

The Canadian Institute of Chartered Accountants (CICA) will celebrate its 110^th anniversary in 2012. Established in 1902 as the Dominion Association of Chartered Accountants, its goal was to develop the highest professional standards for the young country that was Canada. Now, the CICA is recognized as one of the most influential standard-setters in the world and is a leader in the global effort to create and implement international standards that will allow investors to compare reliable financial information from companies everywhere. The CICA serves the interests of society and the CA profession by providing leadership to uphold the professional integrity, standards and pre-eminence of Canada's Chartered Accountants, nationally and internationally. For an overview of the first 100 years of the CICA’s history, read the article “Setting the standard” in the May 2002 CAmagazine.

Comparing Thoughts on Professional Judgment - 1937 and 1988

“Proficiency in accounting work is largely a matter of experience and judgment; the underlying theory of the science is not particularly profound. The test comes when we attempt to apply the general fundamentals to the infinitely varied and complex situations found in the world of commerce. Factual information and accuracy in its procurement are essential, but its value is submerged unless with it is synchronized the development and training of the judgment...the solution of business problems not only calls for an orderly marshalling of facts, but, what is equally important, careful analysis and logical reasoning from such facts, the formation and establishing of effective conclusions and the exercise of sound judgment.” (This quote is drawn from the article by Kris A. Mapp, FCA, "Educating Our Students - What Is Our Responsibility?" Canadian Chartered Accountant, October 1937, page 258.)

“According to the academic research literature, the exercise of professional judgment by those preparing and auditing financial accounting information is at the core of financial reporting. Without the flexibility and the intelligence provided by professional judgment, the complex system of financial accounting procedures, standards and rules would be ponderous, unresponsive, insensitive: in short, unworkable. Financial reporting, as it operates in Canada and elsewhere, requires professional judgment at many levels, in a host of circumstances, and by a variety of skilled and experienced professionals. In fact, professional judgment is an essential part of financial reporting.” (This quote is drawn from the CICA Research Study, Professional Judgment in Financial Reporting, Michael Gibbins and Alister K. Mason, 1988, page 1.)

A History of the AICPA and Volunteer Committees

The American Institute of Certified Public Accountants (AICPA) and its predecessors have a history dating back to 1887, when the American Association of Public Accountants (AAPA) was formed.  In 1916, the American Association was succeeded by the Institute of Public Accountants, at which time there was a membership of 1,150. The name was changed to the American Institute of Accountants in 1917 and remained so until 1957, when it changed to its current name of the American Institute of Certified Public Accountants. The American Society of Certified Public Accountants was formed in 1921 and acted as a federation of state societies. The Society was merged into the Institute in 1936 and, at that time, the Institute agreed to restrict its future members to CPAs.

The use of committees began even before the AAPA was formed in 1887.  At the first meeting of what would become the AAPA on December 22, 1886, those present authorized the appointment of a committee to draft rules and regulations.  Beyond this first preliminary committee, the first Bylaws of the AAPA in 1897 established three committees: Finance and Audit Committee, Committee on Elections, Qualifications and Examinations, and the Committee on Bylaws.  The number of committees grew continually over the years.

(For more information, see the AICPA website section on History of AICPA Volunteering.)

Use and Meaning of "Market" in Inventory Valuation - A CICA Research Study 1963

In January 1963, the Canadian Institute of Chartered Accountants (CICA) published the first in a long series of Research Studies. Prepared by Gertrude Mulcahy, FCA, it was called Use and Meaning of "Market" in Inventory Valuation.

The Foreword states: “While the practice of valuing inventories at "the lower of cost and market" has a long tradition behind it in Canada, relatively little has been specifically written about the use of the term "market", and the purpose and application of the concept, in valuing inventories in this country. The meaning of "cost" in inventory valuation has been covered in the Institute's Bulletin No.5; and there have been official pronouncements by the Institute of Chartered Accountants in England and Wales and by the American Institute of Certified Public Accountants on the use and meaning of "market". While this Research Study, as with all studies in this series, does not purport to represent an official Institute view, it represents an organized examination of this most important area by an author familiar with the background of Canadian business. It is to be hoped that this study will be the basis of much thought and discussion among accountants and other businessmen in Canada; and, probably in other countries as well.”

It goes on to acknowledge that “While the study reflects only the views of the author, Miss Mulcahy received valuable comments and assistance from the Toronto and Montreal members of the 1962-63 Committee on Accounting and Auditing Research, in particular from Mr. R. M. Skinner, F.C.A. who reviewed successive drafts of the study. I know she would want me to express her appreciation for this help.”

Approaches to Dealing with Risk and Uncertainty - 1990 CICA Research Report

The 1990 CICA Research Report, Approaches to Dealing with Risk and Uncertainty, was prepared by J.E. Boritz, PhD, FCA. He was assisted by an 8-member Advisory Group. This Research Report (about 160 pages) was developed in response to a recommendation in the Report of the Commission to Study the Public's Expectations of Audits (published in June 1988), commonly referred to as the Macdonald Commission Report.

The recommendation in  the Macdonald Commission Report stated that "the CICA should initiate and complete as soon as possible a study of risks and uncertainties leading to conclusions as to how they may best be disclosed in financial statements or elsewhere (e.g., in Management's Discussion and Analysis in the annual report)." Accordingly, the primary purpose of the Research Report is to discuss and summarize some of the key issues, and to recommend what further action should be taken.

A History of Ernst & Young

The roots of Ernst & Young go back to the 19th century and its founders Arthur Young and Alwin C. Ernst. Arthur Young was born in Glasgow, Scotland. He graduated in law, but became interested in banking and investment. In 1890, he moved to the US to pursue his career in accounting. In 1906, he formed an accounting firm, Arthur Young & Company, with his brother Stanley. Alwin C. Ernst was born in Cleveland, Ohio. After leaving school he worked as a bookkeeper. Then, in 1903, he and his brother Theodore started Ernst & Ernst, a small public accounting firm.

Young and Ernst were innovators and appreciated the importance of quality in their work. Ernst pioneered the idea that accounting information could be used to make business decisions. Young positioned himself as a business advisor. Both firms were also quick to enter the global marketplace. As early as 1924, they allied with prominent British firms: Young with Broads Paterson & Co. and Ernst with Whinney Smith & Whinney. These alliances were the first of many for both firms, which opened offices around the world to service their international clients.

Ernst and Young never met in life, but died within days of each other in 1948. Their philosophies lived on and, in 1989, were brought together when the firms they started combined to create Ernst & Young. The new organization quickly positioned itself on the leading edge of rapid globalization, new business technologies and continuous business change.

View the brief history and a timeline at the Ernst & Young Canada website.

A Future for the Accountancy Profession: The Quest for Closure and Integration, 1957-1970

In October 2001, the Institute of Chartered Accountants of Scotland (ICAS) published A Future for the Accountancy Profession: The Quest for Closure and Integration, 1957-1970 (339 pages). The Foreword, by Professor Andrew Christie, ICAS President, notes that: “On assuming the Presidency of ICAS in April 2001, there were a number of key strategic issues which the Institute had started to address. Firstly, the unrestricted use of the term ‘accountant.’ At a time when ICAS is increasingly regulating the activities of its members, there remains a population of ‘accountants’ whose work is unrestricted and who compete with qualified practitioners. Secondly, investigating how the Institute can become more relevant to the large number of its members who are not in practice but employed in industry and commerce. Thirdly, how to ensure that the governance of the Institute is designed to adequately represent the interests of chartered accountants in the diverse environments in which they work. Fourthly, maximising the use of modern communications to enhance the involvement of the membership in the formulation of policy.”

Christie goes on to say: “It is intriguing to discover from this monograph by Ken Shackleton and Stephen Walker that these issues were familiar to our forebears. The problem of how to define the ‘accountant’ in the context of the changing nature of the work performed by qualified accountants has surfaced as a problem during several attempts to draft legislation for the regulation of the profession. At the centre of the efforts to unify the professional organisations during the 1960s was the need to address the fact that while the chartered institutes were established as organisations for practising accountants, an increasing proportion of their members were engaged in other fields. The study reveals the potential difficulties in devising governance structures which are reactive to the changing interests and characteristics of institute memberships. Another key finding is the embarrassing consequences for the profession’s leaders of failing to listen to their own constituents.”

He concludes that “This monograph, emanating from the Institute’s Accounting History Committee, is an important contribution to our understanding of a formative event in the post-war history of the UK accountancy profession. The messages it conveys remain relevant today as the accountancy bodies continue to review their organisation.”

Meeting the Challenge of Change – Report of the CICA Long-Range Strategic Planning Committee (1986)

A 1986 report by the Canadian Institute of Chartered Accountants (CICA) states (on page 5): “The Canadian CA profession - like the accounting profession worldwide - is facing fundamental and pervasive change. Led primarily by the rapidly evolving information technology that is revolutionizing business operations, but due also to altered perceptions about the value of the traditional attest audit, the role of chartered accountants in society - whatever their area of practice - is changing dramatically. CAs in public practice face new and increasing demands from their clients for services extending beyond those related to historical financial information and income tax advice and toward future-oriented information necessary for economic decision making. In the process, the CAs role is expanding from that of reporter and analyst of past events to communicator and adviser about business information affecting the future.”

The report further states: “CAs outside public practice - those in industry and government, for example - are no less subject to these demands, albeit from their employers. And CAs in education must face the challenging task of educating the profession's future members to meet this challenge. In an effort to manage change and provide strategic directions for our profession, the CICA Board of Governors formed the Long-Range Strategic Planning Committee in February 1984. Over the past two years, our assessment of these changes, via member and user surveys, focus groups, committee research, literature review and presentations at CICA and provincial institute conferences, has led us to develop an exciting vision of what the CA profession might become over the next 10 to 20 years. It is a vision of a more broadly-based profession whose highly-skilled members are the recognized experts in meeting the needs of an information society.”

The Committee’s conclusions are summarized in a mission statement and 14 specific strategic proposals. These proposals and the overall strategic direction are interrelated and should be looked on as a total concept. To learn more, read Meeting the Challenge of Change – Report of the CICA Long-Range Strategic Planning Committee (1986). Because of its multi-coloured front cover, it is commonly referred to as the “Rainbow Report.”

CICA Task Force on Standard Setting - Final Report 1998

The Final Report of the CICA Task Force on Standard Setting (TFOSS) was issued in May 1998. It represented the culmination of almost two years of deliberations involving extensive communication and consultation with stakeholders in the standard-setting community, both in Canada and abroad. TFOSS expressed a belief in four-long-term goals articulated in its Report. These include the ultimate achievement of one set of internationally-accepted accounting and auditing standards, with Canada playing a significant role in their development.

According to TFOSS, Canada's ability to fulfil that role in the future, as well as to maintain its leadership in setting national private and public sector standards and developing emerging and innovative areas of service to the public, will depend on the commitment of adequate human and financial resources. This commitment has traditionally come from the CICA. But, in the future, TFOSS believes that it must also come from others who benefit from standards, particularly in accounting, but possibly in other areas as well. Their participation and support will serve to enhance the CICA's position as it continues to lead the profession in the years ahead.

Toronto Transit Archives

The Transit Toronto Archives contain scanned and other electronic images, including maps, old brochures, news clippings, annual reports, schedules, sound files and a photo gallery. The materials were produced by the Toronto Transit Commission and other transit agencies in the Greater Toronto Area (GTA) over the past century. While not a complete list, this material is useful for understanding how public transportation in Toronto has grown and developed since its beginnings in the mid 19th century.  The TTC’s Previous Websites can be accessed courtesy the Internet Archive. More maps and photographs are available online at Mike’s Transit Stop.

Strategic Crossroads for the CA Profession

The Report of the Task Force on Strategic Planning was completed in July 2004 and subsequently endorsed by each of the governing bodies of the Canadian CA profession. The Message from the Chair provides a perspective on the strategic planning process. It notes: “By early 2003, the profession’s last major “vision” project from the mid-1990s required a rethink, given the many shifts in our environment over the last decade. The Task Force on Strategic Planning was established in the summer of 2003. Member and market input and analysis occupied the initial period of the Task Force’s work.”

“This report can only capture a portion of the very valuable intelligence and ideas we garnered from this activity but we are satisfied that our recommendations are based on solid evidence and sound analysis. Past strategic planning by our profession was our starting place for this exercise. We found the underlying planning to be very strong but did observe problems with execution, given our complex decision-making framework and diverse priorities of the provincial Institutes/Ordre. We are confident this has been overcome by the strong support and cooperation among the senior management group, the Council of Senior Executives (CSE), regarding our work. We recommended a new vision “trusted, internationally recognized financial leaders in senior management, advisory, tax and assurance roles.” ...CAs enjoy a very strong starting position in achieving this vision but bold action is required in four areas — branding, education, member relations and the public trust.”

(Read the CICA report Strategic Crossroads for the CA Profession and the related Appendices, published in October 2004.)

Report of the Commission to Study the Public’s Expectations of Audits - June 1988

The Report of the Commission to Study the Public’s Expectations of Audits (Macdonald Commission Report) was released by the Canadian Institute of Chartered Accountants (CICA) in June 1988. The Commission had a threefold mandate: (1) to study the public’s expectations of audits; (2) to determine whether there is a gap between what the public expects or needs from auditors and what auditors can reasonably expect to accomplish; (3) to the extent there is an identifiable gap, to make suggestions as to how the gap might be narrowed.

The  Macdonald Commission Report made numerous recommendations regarding: strengthening the audit environment; accounting standards; extensions of financial disclosure; valuations and estimates; disclosure outside financial statements; exercise of auditor’s judgment; additional auditor responsibilities; clarification of financial reporting responsibilities; professional self-regulation; public input to auditing standards; employee fraud; management fraud; illegal acts; changes of auditors; communication with regulators; accounting standards for financial institutions; auditor reporting on internal control; and, auditor’s knowledge of the business.

A listing of the report’s 50 recommendations is provided in Appendix A (pages 139-146) of the report.

History of the FATF (1990-2010)

In response to mounting concern over money laundering, the Financial Action Task Force on Money Laundering (FATF) was established by the G-7 Summit that was held in Paris in 1989.

Recognizing the threat posed to the banking system and to financial institutions, the G-7 Heads of State or Government and President of the European Commission convened the Task Force from the G-7 member States, the European Commission and eight other countries.

The Task Force was given the responsibility of examining money laundering techniques and trends, reviewing the action which had already been taken at a national or international level, and setting out the measures that still needed to be taken to combat money laundering. In April 1990, less than one year after its creation, the FATF issued a report containing a set of Forty Recommendations, which provide a comprehensive plan of action needed to fight against money laundering.

In 2001, the development of standards in the fight against terrorist financing was added to the mission of the FATF. In October 2001, the FATF issued the Eight Special Recommendations to deal with the issue of terrorist financing. The continued evolution of money laundering techniques led the FATF to revise the FATF standards comprehensively in June 2003. In October 2004, the FATF published a Ninth Special Recommendation, further strengthening the agreed international standards for combating money laundering and terrorist financing - the 40+9 Recommendations.

To learn more, read the publication 20 Years of the FATF Recommendations 1990-2010.

CCAF-FCVI – 25th Anniversary Journal 2005

The CCAF was originally called the Canadian Comprehensive Auditing Foundation but, in recent years, the name was contracted to CCAF-FCVI. The CCAF is a national non-profit foundation, established in 1980. Its primary activities are research and education. Established as a public-private sector partnership, the CCAF is funded by the federal and provincial governments and the private sector. Its vision is the achievement of excellence in public sector governance, management and accountability.


The CCAF focus is on public sector organizations that operate in an environment of complex accountability relationships. These include governments, institutions and organizations that create, deliver or regulate activities that support the health, educational, social and economic well-being of Canadians.

To mark its 25^th anniversary in 2005, the CCAF published CCAF-FCVI – 25th Anniversary Journal. The Journal includes articles from various senior officials focusing on their own experiences and activities in the areas of public sector accountability, audit, management and governance. It also includes a brief history of the CCAF's research program over the last 25 years (pages 95-106).

Historical Notes on the Accounting Hall of Fame

Election to the Accounting Hall of Fame is perhaps the only longstanding national award for accountants -- and probably the only international one as well -- in which both academic and practicing accountants vie for the same award. The Accounting Hall of Fame was established at The Ohio State University in 1950 for the purpose of honoring accountants who have made or are making significant contributions to the advancement of accounting since the beginning of the twentieth century. Through 2008, 85 leading accountants from the United States and other countries have been elected to the Hall of Fame.

While selection to the Hall of Fame is intended to honor the people so chosen, it is also intended to be a recognition of distinguished service contributions to the progress of accounting in any of its various fields. Evidence of such service includes contributions to accounting research and literature, significant service to professional accounting organizations, wide recognition as an authority in some field of accounting, advancement of accounting education, and public service. A member must have reached a position of eminence from which the nature of his or her contributions may be judged.

Evolution of US Generally Accepted Accounting Principles - 1930 to 2004

The accounting history paper Evolution of US Generally Accepted Accounting Principles (GAAP) was prepared by Stephen A. Zeff, Rice University. The paper outlines noteworthy developments in US GAAP from 1930 to 2004. The focus is deliberately on those incidents that represented important changes in practice or in the way that accounting principles or standards were set. These incidents are typically ones for which interesting ‘stories’ can be told about the underlying factors that led to the developments. Many of these stories involve efforts by the preparers of financial statements, or by a branch of government, to engage in ‘political’ lobbying in order to promote their narrow interests; for example, to present a more favourable earnings picture or to promote the effectiveness of government fiscal policy. Yet many US accounting standards have been issued that truly reflect the application of sound concepts, undiluted by ‘political’ lobbying. Because these principled standards have emerged in a natural progression from the underlying concepts, their stories are not as ‘interesting’ as those that were driven by ‘political’ lobbying. (Stephen A. Zeff was inducted into the Accounting Hall of Fame in 2002.)

Remembering Ross Skinner (1923-2003)

Saskatoon-born Ross MacGregor Skinner, FCA, had a significant impact on Canadian accounting standards. His 31-year Clarkson Gordon career began in 1945. A partner by 1954, he became national accounting standards director in 1962.

Among his numerous committee posts at the Canadian Institute of Chartered Accountants (CICA) were 5 years of service on its Committee on Accounting and Auditing Research (1959-64), including a term as its chair, and 5 years on its Standards Advisory Board (1990-95). He chaired the Auditor General­’s Independent Committee on Government Accounting and Auditing (1975-78) and, in the same period, was influential in the CICA’s decision to form its Public Sector Accounting Board.

He served two five-year terms on the Financial Disclosure Advisory Board of the Ontario Securities Commission (1974-79 and 1990-95) including three years as its chair. He was a consultant to the Commission to Study the Public's Expectations of Audits (the Macdonald Commission, 1987-88) and, working closely with the Commission, was the principal author of its report. He also served as a vice-president of the American Accounting Association, on the Board of Governors of Havergal College (Toronto), and on the editorial boards of Contemporary Accounting Research, Accounting Horizons, and the Accounting Historians Journal.

In 1962, he was elected a Fellow of the Institute of Chartered Accountants of Ontario (FCA) and, in 1984, he was one of the first five recipients of the Institute’s Award of Outstanding Merit. His many honours and awards also include an honourary doctorate of laws from Brock University, the Canadian Institute of Chartered Accountants’ Distinguished Service Award, and the Canadian Academic Accounting Association’s Haim Falk Award for Distinguished Contribution to Accounting Thought.

Apart from his work on committees of professional bodies and institutes, he wrote several influential books. His first, Analytical Auditing, co-authored with R.J. Anderson, was translated into four languages. His most well-known work, Accounting Principles: A Canadian Viewpoint is highly regarded in the accounting world, as is the book Accounting Standards in Evolution, co-authored with J. Alex Milburn.

Ross Skinner retired in 1983. In 1987 he joined the University of Toronto as adjunct professor and director of its Centre for Accounting Studies, positions he held until 1990. In 1999, he received an honourary Doctor of Laws from Brock University. In 2000, he was inducted to the Accounting Hall of Fame (refer to the article “A Rare Induction to Fame” in CAmagazine online). He passed away in 2003.

IBM’s 100 Icons of Progress

"In the span of a century, IBM has evolved from a small business that made scales, time clocks and tabulating machines to a globally integrated enterprise with more than 400,000 employees and a strong vision for the future. The stories that have emerged throughout our history are complex tales of big risks, lessons learned and discoveries that have transformed the way we work and live. These 100 iconic moments—these Icons of Progress—demonstrate our faith in science, our pursuit of knowledge and our belief that together we can make the world work better." 

"In the late-1980s, IBM helped create a network of supercomputer centers dubbed NSFNET (the National Science Foundation Network), one of the first networks to use TCP/IP. The project essentially gave birth to the Internet—and business and life around the world changed forever. Before the Internet, scientists and researchers had to travel—often out of the country—for computing resources and to collaborate on major projects. By the early 1980s, an early Internet had begun to emerge: a primitive, regional telecommunications network linking several national laboratories and supercomputing centers that could be accessed only by trained experts. It was complicated, unfriendly and slow. But it was an important first step to the worldwide establishment of the Internet."

IBM celebrates 100 years

“Of the top 25 industrial corporations in the United States in 1900, only two remained on that list at the start of the 1960s. And of the top 25 companies on the Fortune 500 in 1961, only six remain there today. Some of the leaders of those companies that vanished were dealt a hand of bad luck. Others made poor choices. But the demise of most came about because they were unable simultaneously to manage their business of the day and to build their business of tomorrow. As you read this, IBM begins its 101st year. Today we take a moment to step back and view the longer arc of history. We’d like to share some of what we have learned—sometimes in humbling ways—on our journey so far.” Read the full essay on the IBM 100 website. Explore an evolving collection of stories about the 100 IBM innovations that helped shape the last century. Celebrate IBM’s 100-year history with commemorative memorabilia designed exclusively for IBMers, families and friends.

A History of the Bar Code

In 1949, a young graduate student was wrestling with the concept of automatically capturing information about a product. He believed that the dots and dashes of Morse code would be a good model, but he could not figure out how to use those familiar patterns to solve his problem. Then, one day as he relaxed at the beach, he idly drew dots and dashes in the sand. As his fingers elongated the dashes he looked at the result and said, "Hey, I've got it." Three years later that graduate student, Joseph Woodland, and his partner received a patent on what began as lines in the sand, and the linear bar code was born. Today, the best-known and most widespread use of bar codes has been on consumer products. The Universal Product Code, or U.P.C., is unique because the user community developed it. Most technological innovations are first invented and then a need is found for the invention. The U.P.C. is a response to a business need first identified by the US grocery industry in the early 1970s. (For more information, see “A History of the Bar Code” at the Economic History Association online and "How UPC Bar Codes Work" at How Stuff Works online.

Canadian income tax, then and now

It has been almost 40 years since Canada overhauled its tax system, eliminating estate duties and bringing in capital gains tax. Since 1972, we have seen no less than 49 editions of the Income Tax Act. Its length has increased enormously and the complexity exponentially. Changes in technology have aided the Canada Revenue Agency in the selection and audit of taxpayers. Ever-changing legislation, powerful audit tools, information exchange agreements and anti-avoidance rules have made tax planning harder, tax compliance more challenging and tax enforcement easier with key changes over the past 40 years and challenges presented to the accounting profession. (Read the article “Income tax, then and now” in the June-July 2011 issue of CAmagazine online.)

CICA Corporate Reporting Awards celebrate 60 years of excellence

This year marks the diamond anniversary of the Chartered Accountants of Canada’s Corporate Reporting Awards. Since 1941 the program has been centre stage in Canada’s evolution to best practice reporting models.  By providing important recognition for those committed to advancing business reporting, the program has helped drive the development of best practices in financial reporting, corporate governance disclosure, electronic disclosure and sustainable development reporting, all of which are now regarded as essential components of the corporate reporting model. Judging organizations include the Canadian Institute of Chartered Accountants (CICA), PricewaterhouseCoopers, Ernst & Young, Deloitte, International Institute for Sustainable Development, Canadian Investor Relations Institute, and Toronto CFA Society.  (Read the article “Corporate Reporting Awards celebrate 60 years of excellence” in the June-July 2011 issue of CAmagazine online.)

A century of CAmagazine

Small beginnings are no indication of ultimate results,” noted the foreword to the first issue of The Canadian Chartered Accountant in July 1911. Launched from temporary offices in Toronto with the slogan “Of the Profession; by the Profession; for the Profession,” the 32-page quarterly magazine was an effort to knit the far-flung members of the Dominion Association of Chartered Accountants (DACA) into a cohesive fraternity. At the time, there were only seven provincial accounting organizations, with Alberta having formed its institute the previous year. In September 1911 at the national convention in Montreal, the magazine received its first and most important review: “Let it be printed,” members voted. (Read the article “A century of CAmagazine” in the June-July 2011 issue of CAmagazine online.)

CAmagazine - 100-year overview

When The Canadian Chartered Accountant began publishing 100 years ago, editors said its pages would be “open for discussions, for news and for any other purposes tending to bring the members more closely in touch with one another.” Sensibly, they made no claim for how the magazine would strengthen the community and instead focused on reporting and offering insight on events and issues critical to CAs. For a century, the magazine has acted as the profession’s adviser, referee, historian and, occasionally, conscience. The article “100-year overview” in the June-July 2011 issue of CAmagazine celebrates those who built, sustained and helped CAmagazine prosper. Happy birthday!

The Canadian Chartered Accountant – July 1921

On page 1 of this 10^th anniversary issue, a Note by the Publication Committee stated “The Canadian Chartered Accountant enters upon its eleventh year of publication with this issue. Hitherto a quarterly, it becomes, in response to demands from an appreciative constituency, a bi-monthly publication, at however, an increased price, rendered necessary by the steadily advancing costs of everything entering into its make-up, excepting Editorial services and it is felt that the time has arrived when that painstaking and uncomplaining person, the Editor, should be remembered also.”

The Note goes on to say that “Concurrently, it has been decided that no further advertising will be accepted by the Magazine, excepting from the Institutes or affiliated sources, the intention being to preserve its character and limit its use to matters of purely professional and technical interest. Our advertisers during the past ten years are extended our best thanks for the patronage and encouragement they have given us, and we trust that the publicity that the Magazine has given them may not have been wholly without benefit to them. We bespeak the goodwill and assistance of our readers, with the objects of making the Magazine more valuable and interesting, and of enlarging its list of subscribers to the point of being self-sustaining. Nothing beyond that is desired.”

Pages 4-11 of this issue of The Canadian Chartered Accountant include the Dominion Association of Chartered Accountants (DACA, now the Canadian Institute of Chartered Accountants) Act of Incorporation (assented to May 15, 1902), bylaws, List of Past Presidents and Secretaries (1902-1920) and the officers and council for 1920-1921.

(Read The Canadian Chartered Accountant, July 1921. Also, refer to the first edition of The Canadian Chartered Accountant, July1911.)

Remembering Professor Edward Stamp (1928-1986)

As a scholar and professional of truly international renown, Professor Edward Stamp was a British subject by birth and a Canadian citizen by naturalization. He took his degree from Cambridge in Natural Sciences and in 1950 was a Fulbright Scholar. In 1951, he came to Canada joining the public accounting firm of Clarkson Gordon & Co., where he qualified as a Chartered Accountant. He was admitted to partnership in the firm in 1959 and practiced in both Toronto and Montreal. In 1976, he was given the rare honour of Fellowship by the Ontario Institute of Chartered Accountants.

His academic teaching interests began in 1957 when he was a Special Lecturer at the Osgoode Hall Law School in Toronto. His first full-time academic appointment was in 1962 at Victoria University of Wellington in New Zealand where he was later appointed Professor of Accountancy. In 1967, he was appointed Professor and Head of the Department of Accounting and Business Method in the University of Edinburgh, Scotland - positions which he held until his appointment as Professor of Accounting Theory and Head of the Department of Accounting and Finance at the University of Lancaster in 1971. In 1975 he was named the Endowed Research Professor at the University of Lancaster. He founded the International Centre for Research in Accounting at that University in 1971 and was appointed as the Director of the Centre.

Professor Stamp's research interests are particularly broad, covering financial accounting and reporting, accounting theory, international accounting and auditing, and public accounting and auditing. He is the co-author of the basic document of the British conceptual accounting framework (The Corporate Report, 1975) and the author of the counterpart document for Canada (Corporate Reporting - Its Future Evolution, 1980).

One of the particular achievements of Professor Stamp is bridging the gap between academe and practice. His continual and articulate urging of the profession to respond to the new findings and direction emanating from the universities prompted much professional progress. His professional experience as a partner in an international public accounting firm and his senior academic appointments provide a uniquely rich background for these endeavours.

Among many of Professor Stamp's achievements and honours are: Advisor to Her Majesty's Treasury; Distinguished International Visiting Lecturer of the American Accounting Association; and Visiting professorships in Europe, Africa, the United States, Canada, Australia, New Zealand and Japan He was an executive member of the European Accounting Association and a Founding Member of the International Association for Accounting Education and Research in Japan. Professor Stamp was awarded the degree of Doctor of Laws at the University of Saskatchewan in 1984. He continued as the Endowed Research Professor and Director of the International Centre for Research in Accounting at the University of Lancaster, England, until he passed away on January 10, 1986 in Toronto.

Welcome to the AAA Digital Library!

The mission of the American Accounting Association (AAA) is to promote worldwide excellence in accounting education, research and practice. Founded in 1916 as the American Association of University Instructors in Accounting, its present name was adopted in 1936. The Association is a voluntary organization of persons interested in accounting education and research. The AAA Digital Library includes the following publications: The Accounting Review; Issues in Accounting Education; Accounting Horizons; Accounting and the Public Interest; The ATA Journal of Legal Tax Research; AUDITING: A Journal of Practice & Theory; Behavioral Research in Accounting; Current Issues in Auditing; Journal of Emerging Technologies in Accounting; Journal of Information Systems; Journal of International Accounting Research; Journal of Management Accounting Research; and Journal of the American Taxation Association. All full-text papers are provided in PDF format and are searchable using the Find utility in Adobe Acrobat Reader. All full-text papers provide links to references, as available. The AAA Newsletter, Accounting Education News, as well as the AAA Section Newsletters are also available online, some dating back to 1995.

That's Summa Story! The History of Accounting

"Accountants are generally recognized as making a valuable contribution to society, by providing the information that allows entrepreneurship to flourish, business to operate efficiently, stakeholders’ interests to be protected, shares to be fairly priced, and taxation and audit requirements to be satisfied. Accounting, however, has not always enjoyed such an established position, and today there is often a tendency to take our profession’s status for granted. It is interesting, therefore, to examine the factors that have brought accounting to the preeminent place that it occupies today." To learn more about the history of accounting, read the article "That's Summa Story! From the Caves to Café Pacioli" by Derry Cotter, FCA. To access the full text of this article, see the Digital Edition of Accountancy Ireland, February 2011, (pages 50-53). Also, visit the magazine's digital archives from 2007 and other archives dating back to 1998.

Canada's CAs symbolized by new logo

On June 1, 2007, Canada’s Chartered Accountants (CAs) got a new look as the profession unveiled a dynamic and modern redesigned logo. Updated for the first time since the early 1990s, the new CA logo reflects the leadership and value provided by the more than 72,000 CAs and 10,000 CA students in Canada and Bermuda. (See the CICA Annual Report 2006-2007 "Inspiring Confidence" - article on page 7.)

Journal of Accountancy - archives from 1997

The Journal of Accountancy archives are available online dating from January 1997. Back issues can be selected using the "Browse By Cover" link or the "Select from Menu" link in the ISSUE ARCHIVE section of the homepage. A search feature is also available that allows users to "SEARCH - 1997 to Present."

Tax blast from the past

The total tax bill of the average Canadian family has increased by 1,624% since 1961 — a faster increase than any other single household expenditure — according to a study by the Fraser Institute. In contrast, expenditures on housing increased by 1,198%, food by 559% and clothing by 526% from 1961 to 2009. (See "Tax blast from the past" in CAmagazine online.