Accountancy Insurance Blog
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Accountancy Insurance was established in 2003 by the current Managing Director, Pat Driscoll. The ultimate objective for Accountancy Insurance was to work exclusively with public practice accounting firms and to ensure tax audit insurance 'worked' for them. Read the latest blog from Accountancy Insurance and be up to date with what is happening in the world of accounting in Canada.
Accountancy Insurance Blog
1w ago
The annual inflation rate now stands at 2.9 per cent, up from 0.1 per cent compared to the previous month. While year-over-year inflation has seen a modest increase, excluding volatile gasoline prices reveals a different picture. Statistics Canada’s consumer price index for March 2024 showed a 2.9 percent increase compared ..read more
Accountancy Insurance Blog
1w ago
Statistics Canada’s advance estimate for March revealed that retail receipts remained unchanged, following a 0.1 per cent decline in February, disappointing expectations for a rebound. The lackluster performance in the retail sector has raised concerns, with analysts pointing to various factors contributing to the subdued spending environment. Rising costs of ..read more
Accountancy Insurance Blog
2w ago
The recent fiscal year for Saskatchewan, for example, saw an anticipated surplus of over $1 billion evaporate into a deficit of approximately $482 million due to drought and subsequent crop insurance payouts. Guillaume Lhermie, director of the Simpson Centre for Food and Agricultural Policy at the University of Calgary, warns ..read more
Accountancy Insurance Blog
1M ago
Preliminary data from Statistics Canada indicates that the gross domestic product (GDP) expanded by 0.4 per cent in February, following a 0.6 per cent growth in January. These gains, particularly in sectors such as oil and gas, manufacturing, and finance, suggest a promising start to the year and mark the ..read more
Accountancy Insurance Blog
1M ago
Canada’s economic slowdown may see a turnaround later this year, according to a recent report from RBC Economics. While the country’s GDP growth has lagged behind population gains, economists suggest that a rebound could be a reality in the not too distant future. This signals that Canadians need to dig ..read more
Accountancy Insurance Blog
1M ago
Inflationary pressures in Canada showed signs of easing in February, with the annual inflation rate falling to 2.8 per cent, according to Statistics Canada. This news comes as a surprise to economists who had anticipated a rise to 3.1 per cent, marking a departure from earlier projections. Factors contributing to ..read more
Accountancy Insurance Blog
2M ago
Despite various downward pressures on the market, the housing sector has shown resilience, suggesting underlying strengths in the Canadian economy. The recent surge in Canadian house prices comes at a time when the global economic landscape is facing uncertainties. In Canada, the economy narrowly avoided a recession, with gross domestic ..read more
Pressure Eases on the Bank of Canada to Reduce Rates Following Better-Than-Expected Economic Reports
Accountancy Insurance Blog
3M ago
The Bank of Canada finds itself in a nuanced position as recent economic indicators paint a rosier picture than anticipated, alleviating pressure on policymakers to implement rate cuts in the near term. Recent reports highlighting stronger-than-expected economic performance have tempered expectations of imminent rate reductions. The Canadian economy showcased resilience ..read more
Accountancy Insurance Blog
3M ago
Amidst the backdrop of persistent inflation and economic uncertainty, the Bank of Canada finds itself in a precarious position, unable to determine when it will initiate rate cuts. The recent summary of the Bank’s deliberations following its January 24 rate decision sheds light on the complexities facing policymakers as they ..read more
Accountancy Insurance Blog
3M ago
The total home sales for 2023, amounting to 443,511 units, marked a decline of more than 11 per cent compared to the previous year. This represents the lowest annual level for national sales activity since 2008, according to CREA. Although there was a slight uptick in sales in December 2023 ..read more