Chronology of the development of corporate financial reporting in Canada: 1850 to 1983

              The Accounting Historians Journal Vol. 13, No. 1 Spring 1986
George J. Murphy UNIVERSITY OF SASKATCHEWAN
A CHRONOLOGY OF THE DEVELOPMENT OF CORPORATE FINANCIAL REPORTING IN CANADA: 1850 TO 1983
Abstract: A chronology of significant events in the development of corporate finan-cial reporting standards and practices is presented. The introductory comments to the various sections direct attention to some of the main patterns and trends in that development and provide the framework in which the listing of events is to be interpreted. The particularly significant domestic sources of influence are the leg-islative and professional activities in Ontario and, in more recent times, the activi-ties of the Canadian Institute of Chartered Accountants. External influences have been—not unexpectedly—the traditions of English Company law and the close professional, institutional and economic relationships with the United States. Some internationally significant developments unique to Canada are indicated.
INTRODUCTION
A few introductory comments to the chronology are useful in suggesting some of the broad themes that characterize the whole of the evolution of corporate financial reporting in Canada and in providing a background or setting to aid interpretation. The chronology itself has four divisions each of which in turn are preceded by interpretive comments.
The evolution of financial reporting in Canada has developed within the framework of both British and American influence. The traditions of English law and, more particularly, the model of using the Companies Acts to improve financial statement reporting prac-tices have provided an ever-present guideline. Prior to the turn of the century, actual legislated reporting requirements followed the English statutes quite closely; since that time, the Canadian requirements have generally been well in advance of those of
The. author appreciates the helpful comment of P. H. Lyons of Deloitte Haskins and Sells and R. D. Thomas of the Canadian Institute of Chartered Accountants; the use of the libraries of the Ontario Archives, the Institute of Chartered Accoun-tants of Ontario and the Ontario Legislature; and the financial assistance of the Social Science and Humanities Research Council of Canada.