Canadian Financial Reporting Institutions

33 Pages Posted: 8 Feb 2018

See all articles by Daniel B. Thornton

Daniel B. Thornton

Smith School of Business at Queen's University

Multiple version iconThere are 2 versions of this paper

Date Written: January 30, 2018

Abstract

The recently published Easy Prey Investors: Why Broken Safety Nets Threaten Your Wealth lambastes virtually every aspect of Canadian financial reporting in exceptionally harsh terms. Although the authors' assertions about the implications of financial reporting violations they have seen are mostly unsubstantiated or overblown, publications like theirs are useful if they stimulate continual, thoughtful consideration of Canada's institutional arrangements. I discuss various methodologies for doing this and present some novel evidence indicating that some of the authors' assertions are simply incorrect. Canada's financial reporting institutions, like all institutions, are not perfect, so we must always listen to their critics' suggestions for reforming them; however, our institutions are in much better shape than Easy Prey Investors asserts.

Keywords: Financial Reporting, Institutions, Capital Markets, Accounting

JEL Classification: M41, M48

Suggested Citation

Thornton, Daniel B., Canadian Financial Reporting Institutions (January 30, 2018). Available at SSRN: https://ssrn.com/abstract=3113534 or http://dx.doi.org/10.2139/ssrn.3113534

Daniel B. Thornton (Contact Author)

Smith School of Business at Queen's University ( email )

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