CGA-Canada Public Practice Manual 2008/2009 Edition

Professional practice requires the exercise of judgment. No practice materials can be a substitute for this judgment. It is not possible to cover all the special situations a CGA may encounter in practice. The guidelines, sample forms, and financial statements are intended to assist in the more common situations encountered in everyday practice. Problems unique to particular kinds of organizations or specific industries are not covered.

To gain maximum benefit from this material, two different types of judgments are required. The first is to consider the authoritative nature of the content you wish to use. Is the procedure, financial statement presentation, form, checklist, or letter required by professional standards? In other words, is the content a standard or is it in the nature of advice? Also, is it useful and appropriate to rely on the content in any given circumstances?

The second judgment is to consider whether changes need to be made to a procedure, financial statement presentation, form, checklist, or letter in order to satisfy the intended purpose or to enhance its utility. Changes can be made to specific materials where the practitioner’s professional preference differs from the recommendation contained herein and professional standards do not prohibit such changes.