Use this URL to cite or link to this record in EThOS:
Title: An investigation into the use and financial reporting of derivative financial instruments by Canadian companies
Author: Lightstone, Karen Touche.
ISNI:       0000 0001 3609 9477
Awarding Body: University of Portsmouth
Current Institution: University of Portsmouth
Date of Award: 2004
Availability of Full Text:
Access through EThOS:
Canadian business contributes substantially to the economy and to employment opportunities in Canada. The level of contribution is now being seriously affected by instability in the global economy. How a company responds to this new environment will determine how well it will fare in the future. One consequence of this global instability is an increase in risks to which a company is exposed. The financial derivatives market arose to meet the needs of businesses in their risk management practices. The aim of this thesis is to provide an accurate and up-to-date portrait of the use of derivatives by public and private corporations in Canada and to provide a context for an informed discussion of the problems related to the use of derivatives by corporations. The findings indicate that public companies are not fully complying with the disclosure standards. There is evidence that some speculation with respect to derivative use in both private and public corporations. Internal controls tend to be documentary in nature which requires follow-up and investigation of actual practice. Finally, the lack of an independent oversight body as well as the standard-setting practice in Canada leaves the auditors with little in the way of enforcement tools to ensure all requires derivative disclosures are being met.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available