Banking Review: Fall 2009

PricewaterhouseCoopers' Banking Review shares a Canadian perspective on the challenges and opportunities facing the banking and capital markets sector. This edition features the following articles:

• Canadian tax issues and IFRS
• Managing sustainability in financial services
• A new era: redefining ways to deliver trusted advice

Canadian tax issues and IFRS
The decision by the Canadian Institute of Chartered Accountants (CICA) to cease setting its own GAAP and to adopt International Financial Reporting Standards (IFRS) has been the subject of much analysis. Organizations with calendar year-ends must use IFRS for financial reporting beginning January 1, 2011. Most financial institutions have started considering how the switch to IFRS will affect their financial results and disclosures. Some institutions are already redesigning systems and procedures. It is necessary to include tax groups in this process. IFRS will affect not only tax accounting, but can also affect tax planning strategies, cash flow and tax compliance.

Canadian tax issues and IFRS (54 KB) Download the full PDF article.

Managing sustainability in financial services
For the past several decades, environmental activists and non-governmental organizations (NGOs) targeted polluting companies directly in an effort to ensure more responsible operational processes. By the beginning of this decade, the focus of these efforts widened to include the providers of capital to these companies, namely investors and banks. NGOs have now launched high-profile campaigns in an attempt to force banks to re-evaluate their lending practices.

Managing sustainability in financial services (542 KB) Download the full PDF article.

A new era: redefining ways to deliver trusted advice
Since the 2007 edition of the Global private banking and wealth management survey, the role of the wealth manager has become far more challenging. With asset values down, lower trading volumes and clients focused on lower-margin products, revenue prospects are severely reduced. Clients are expecting more from their wealth manager, are asking difficult questions and looking for assurance. Additionally, governments and regulators are increasing the pressure on wealth managers in a variety of ways.

A new era: redefining ways to deliver trusted advice (133 KB) Download the full PDF article.

Banking Review: Fall 2009 (133 KB) Download the full PDF article.