The volatility of US trade policy, implementation of tariffs, and the resultant retaliatory measures present significant challenges to Canadian entities, particularly those involved in cross-border trade. The current trade environment does not only affect operations but significantly impacts the preparation of financial statements, particularly those that rely heavily on forward-looking estimates and projections.
This publication identifies key financial reporting areas that entities should consider when evaluating the impact of tariffs and uncertain economic conditions on their business and financial statements.
