Workshop 201

Call in the Accountants: Understanding the Financial and Accounting Implications in Your Contracts

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Agreements often include accounting terminology, financial statements, financial reporting requirements and financial projections that are well understood by accountants. However, contracts and agreements are frequently reviewed solely from a legal perspective. This can leave the agreements open to misinterpretation or intentional deceit.

We will be presenting on four key stages during the lifecycle of an agreement, common issues that arise, and effective management and compliance.

1. Selecting Your Vendor / Contractor

  • Common issues: Due diligence on parties to a contract; financial statements; pro forma financial statements or projections

2. Drafting Your Agreements

  • Common issues: Accounting terminology; contract language; availability of records and the Right to Audit clause; tenders

3. Financial Management and Reporting

  • Common issues: Financial management; monitoring

4. Contract Compliance

  • Common issues: Non-compliance; provision of records; outdated contracts


  • lisa majeau gordon the canadian bar association Lisa Majeau Gordon, FCPA, FCA, CA∙IFA, CFE, CFF, National Leader, Forensics and Litigation Support, MNP LLP
  • james dyack the canadian bar association James Dyack, Partner, MNP LLP