DRAFT Minutes - Institute of Chartered Accountants of BC

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from the Institute. Introductions of those seated at the head table were made, members were asked to register any proxies not already registered, and members were reminded to clearly identify themselves prior to speaking. 2. Notice of Meeting Moved and seconded, that the reading of the Notice of Meeting be waived. CARRIED. 3. The Membership It was noted that the Institute now had 11,146 members and 1,874 students. All members who had joined the ICABC in the past year were asked to stand, and give their names. No new members were recognized. It was also noted that since the 2011 Annual General Meeting, the Institute had been notified of the deaths of 45 members. Members were advised that a handout was available listing those members who had passed away should they wish to pick one up. 4. Appointment of Scrutineers Moved and seconded that the firm of Wolrige Mahon LLP be appointed as scrutineers for the 2012/2013 Council election and Annual General Meeting and that Peter Posnikoff, CA be appointed as Chief Scrutineer. CARRIED. 5. Minutes of 106th Annual General Meeting held June 22, 2011 Moved and seconded that the minutes of the 106th Annual General Meeting held on June 22, 2011 be approved as distributed. CARRIED. 6. President’s Report It was noted that the President’s report, which was made available to all members on the website, outlined the Institute’s activities for the year. A brief overview of a number of issues Council addressed during the past year was provided including: • The implementation of new standards and the development of new tools and programs to assist members; • The use of new enforcement mechanisms for non-compliance with Continuing Professional Development (CPD) requirements, including suspension and cancellation of membership; and, • Significant strategic efforts regarding unification, discipline transparency and growth of the profession. In addition to the issues addressed by Council, many of which will be ongoing, it was noted that 8 BC Honour Roll graduates were recognized at the 2012 Convocation ceremony along with approximately 365 other new graduates plus families and colleagues. The professional staff members were recognized for their support, dedication and commitment to the profession. In addition, members were thanked for their part in making the year so significant. The incoming Vice Presidents were wished the same success. 7. Financial Statements for the Year Ended March 31, 2012 The Treasurer noted that the audited financial statements of the ICABC, as well as a management discussion and analysis, had been provided to all members on the AGM website, or on request by contacting the ICABC. In addition, it was noted that the audited financial statements of the Benevolent Fund were available upon request. The auditors’ representative, William Cox, CA, from BDO Canada LLP, was recognized. Page 2 of 4
Council’s responsibilities regarding the financial resources of the Institute were outlined, as was the role of the Audit Committee. A brief overview of the financial statements was provided following which it was noted that both the Audit Committee and Council had approved the audited statements that were being presented for information at the Annual General Meeting. 8. Appointment of Auditors for 2012/2013 Moved and seconded that BDO Canada LLP be appointed auditors of the ICABC and the Benevolent Fund for the year commencing April 1, 2012, with fees to be approved by Council. CARRIED. 9. Notice of Motions – Amendments to the Rules of Professional Conduct (The Notice of Motions package is attached to, and forms part of, the official minutes of the 2012 AGM, retained at the ICABC office.) B. Anderson, Chair of the Bylaws Committee, was introduced. By way of background, it was noted that the amendments to the Bylaws and Rules of Professional Conduct, as set out in the Notice of Motions, were approved by Council and were being presented to the membership for confirmation. The members were advised that although a significant number of proxy votes had been received, each resolution would be addressed separately to ensure that anyone wishing to raise questions had an opportunity to do so. After each motion was presented, the number of electronic votes and those directed by proxy were announced. Moved and seconded that the changes to Rules 303.1 and 303.2 as set out in the Notice of Motions (additions underlined and deletions shown as strikeouts), which were approved by Council on February 15, 2012 to take effect immediately, in accordance with Section 8 of the Accountants (Chartered) Act, be confirmed as presented. CARRIED. Moved and seconded that the changes to bylaws 100, 271, and 761 and the addition of new Bylaw 1035 as set out in the Notice of Motions (additions underlined and deletions shown as strikeouts), which were approved by Council on March 28, 2012 to take effect immediately, in accordance with Section 8 of the Accountants (Chartered) Act, be confirmed. CARRIED. Moved and seconded that the changes to Part 7 of the Bylaws and Bylaw 811 as set out in the Notice of Motions (additions underlined and deletions shown as strikeouts), which were approved by Council on February 15, 2012 to take effect after confirmation by membership be confirmed. CARRIED. The Bylaws Committee Chair and members were recognized for their work throughout the past year. 10. Election of 2012 - 2013 Council It was noted that the Council of the BC Institute is comprised of 15 elected members and 3 public representatives appointed by the provincial government. Members were advised that this year, there were seven vacancies on Council to be filled by candidates elected for two-year terms (in accordance with Bylaw Regulation 511/2). Members were also advised that in order to maintain geographical representation, Bylaw Regulation 511/1 required that at least one vacancy must be filled by a candidate from the Interior district and at least one vacancy must be filled by a candidate from the Vancouver Island district. The remaining vacancies may be filled by candidates anywhere in British Columbia. Page 3 of 4
Page 1: DRAFT Minutes 107 th ANNUAL GENERAL

DRAFT Minutes - Institute of Chartered Accountants of BC

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