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Discover all the articles written by the professionals of Mazars in Canada.
When Fraud Comes from Within: Intervening Quickly, Calmly, and Methodically
Internal fraud rarely looks like sophisticated cyberattacks. More often, it stems from blind trust, weak controls, and repetitive actions that slip under the radar. Forensic accountant Denis Hamel, CPA, CPA•IFA, CIRP, LIT, CFF, CFE, Partner and Leader of Financial Advisory Services at Forvis Mazars in Canada, explains how to act when suspicion arises, what to expect from a financial investigation, and why collaboration with lawyers and senior management makes all the difference.
Learnings from the Standardized Climate Scenario Exercise (SCSE)
The Office of the Superintendent of Financial Institutions (OSFI) and the Autorité des Marchés Financiers (AMF) recently released results of the Standardized Climate Scenario Exercise (SCSE) which involved over 250 financial institutions.
Setting credible net zero targets: Revisions to the SBTi standards
Net-zero commitments are facing heightened scrutiny as regulators and investors demand greater transparency and accountability.
C-suite barometer 2025 : Cutting through competition
At the end of 2024, we collected the views of leaders worldwide for our annual C-suite barometer.
Over 1,700 executives from more than 35 countries contributed, revealing a determination to continue growing amid a more competitive and challenging environment.
Over 1,700 executives from more than 35 countries contributed, revealing a determination to continue growing amid a more competitive and challenging environment.
The release of Canada’s inaugural sustainability disclosure standards
On 18 December 2024, the Canadian Sustainability Standards Board (CSSB) released the final sustainability disclosure standards: CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information and CSDS 2, Climate-related Disclosures. These standards are effective January 1, 2025 and mark a significant milestone in advancing sustainability reporting in Canada. This follows a public consultation earlier this year on the CSDS exposure drafts, of which the CSSB received feedback from around 529 individuals and 392 organizations across the country.
Year-end tax planning - 2024
Another year is drawing to a close, and there are a number of tax considerations to take into account for 2024. While it’s best to have a sound tax strategy throughout the year, it’s not too late to end the year on the right foot.
Advancing climate scenario analysis capabilities
On 10 September 2024, the Office of the Superintendent of Financial Institutions (OSFI) issued final versions of Standardized Climate Scenario Exercise (SCSE) methodology, workbook, instructions and questionnaire. The SCSE is designed to be foundational to help Financial Institutions (FIs) better understand potential impacts of climate-related risks and increase their capabilities around managing these risks. The exercise applies to all federally regulated FIs, except foreign branches. OSFI is working with the Autorité des marchés financiers (AMF) in Quebec, who will run also the SCSE for FIs they regulate.
Responding to CSSB’s consultation on its sustainability disclosure standards
The Canadian Sustainability Standards Board (CSSB) recently consulted on exposure drafts of its draft Canadian Sustainability Disclosure Standards (CSDS). The CSSB used as a baseline the first two IFRS S1 and S2 sustainability disclosure standards released by the International Sustainability Standards Board (ISSB).
Getting ready for OSFI’s Standardized Climate Scenario Exercise (SCSE)
Climate-related financial disclosures of Canadian financial institutions
Climate change poses a significant risk to financial institutions’ business model, strategy and overall performance. It also presents substantial opportunities for financial institutions given the key role they play in facilitating the smooth transition to a greener and more sustainable economy.