In Brief

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PwC created the In Brief series as a concise look at topics of importance to organizations in Alberta. This series will discuss issues facing companies in various industries in the province and provide some practical steps to improve overall business performance.

What does EPAP mean for energy operators in Alberta?
First introduced in 2009 and finalized in January 2010, the rationale behind Enhanced Production Audit Program is to raise the level of assurance over compliance and to raise the level of compliance with ERCB measurement and reporting requirements. In summary, it will serve as an annual declaration by one or more senior officers of a company confirming that they have internal controls in place over their volume metrics measurements and reporting.

Sustainability: Leaders create and seize opportunities
Heightened public awareness means that a commitment to corporate responsibility is increasingly becoming an expectation. And as more and more companies move to embrace sustainability as a part of their corporate strategy and the associated reporting expectations, those that are in a leadership position will have a competitive advantage in attracting strategic alliances and partnerships—as well as customers.

In Brief: Sustainability: Leaders create and seize opportunities (70 KB)
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People and Change: Achieving success by managing change through people
Constant, rapid and often dramatic change is the new reality in the 21st century. Today, Alberta companies barely have time to catch their breath after adapting or restructuring to meet the challenges of one turbulent event before another one hits them. Whether it is the economy, technology, new discoveries and markets, government regulation, global issues or demographic-related labour shortages, change is a fast-paced constant now.

People and Change: Achieving success by managing change through people (41 KB)
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Building a sustainable cost-effective culture through operational efficiency
During a downturn, business leaders know that they have to make tough decisions to ensure their companies' survival. But despite all the doom and gloom, the current downturn does offer an opportunity for Albertan companies to enact not only rapid cost reduction but also long-term restructuring. Doing so can help organizations achieve higher levels of operational efficiency. Read the following article to learn more.

Building a sustainable cost-effective culture through operational efficiency (70 KB)
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Due diligence advice for banks done with experience, focus and speed
In today's economic climate, lending and then monitoring loans is among the most critical and risk-laden banking activities. Credit managers need access to quality data and a high degree of confidence of its integrity. Today, it often goes even deeper. It is also valuable to have a view into an organization’s debt service capability and working capital as well as a look at the quality of its operations and systems. Read how PwC can add value and confidence to lending processes.

Due diligence advice for banks done with experience, focus and speed (41 KB)
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Converting from an income trust to a corporation—with expertise and experience
Most income trusts should strongly consider converting into a corporation by the end of 2010, but a conversion is a significant event that will have long-term ramifications. It has to be done right. And the clock is ticking. PwC has experience helping many income trusts across the country with their conversion plans.

Converting from an income trust to a corporation—with expertise and experience (70 KB)
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Control your cash flow; control your destiny
The majority of companies have enjoyed the benefits of a booming oil and gas sector and many have never experienced a downturn. The following publication offers some practical suggestions on developing a strong cash-flow strategy and outlines the benefits of talking to our practitioners, who have addressed these issues with many companies in a range of sectors.

Control your cash flow; control your destiny (80 KB)
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Taking taxing challenges and turning them into cash-flow opportunities
Good tax management can play a big role in improving cash flow, helping companies survive the downturn and improve their competitiveness for when the upswing arrives. Many Albertan companies have enjoyed low taxes or have never experienced a serious cash crunch. Consequently, they aren't prepared to incorporate effective tax management into their immediate survival and long-term strategies. The following article provides some details on how to do exactly that.

Taking taxing challenges and turning them into cash flow opportunities (88 KB)
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Is your company built to sustain shifts in Alberta's energy sector?
A wake-up call has occurred in Alberta's energy service sector as business has slowed and capital is scarce. The business leaders who realize this and start building sustainability into their capital structures will position their companies for success. We outline some clear steps that business leaders can take to ensure their companies are well-capitalized and have a strong corporate finance strategy in place.

Is your company built to sustain shifts in Alberta's energy sector? (67 KB)
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The time has come for discipline and governance in the IT Revolution
In the race to keep up with boom-time demands-and with money readily available-both the private and public sectors took advantage of new technology But they often did so in a piecemeal fashion, adding layers of complexity and redundancy to their IT infrastructures. In this article, we suggest some practical steps that public and private organizations can take to improve their IT performance.

The time has come for discipline and governance in the IT Revolution (58 KB)
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PwC's SAP practice: Making change that sticks
Whether an organization is looking to realize more business benefits from its existing SAP system, or achieve a sudden change in business performance through the initial implementation of an integrated enterprise resource planning system, PwC can help you unlock the potential of SAP.

PwC's SAP practice: Making change that sticks (94 KB)
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Internal Audit 2.0: Transforming the Internal Audit department
The current downturn has alerted many companies to the importance of risk management. Failing to assess business risks is the most common means by which organizational value is eroded. Changing the focus of the internal audit department from compliance and financial reporting to managing risks can help support strategic business decisions.

Internal Audit 2.0: Transforming the Internal Audit department (96 KB)
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