CM Autumn Template - Institute of Chartered Accountants of Ontario

CheckMark 

T h e I n s t i t u t e o f C h a r t e r e d A c c o u n t a n t s o f O n t a r i o 

Inside this issue: 

Celebrating Ontario’s 75 New FCAs 

Small Firms Discuss Training CA 

Students in Non-traditional Paths 

How to Implement a Paperless Office 

So You Want to be CEO 

2009 ICAO Award of Outstanding Merit 

Recipients 

Rod Barr, FCA, Institute’s New 

President and CEO 

Autumn 2009

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CheckMark 

A U T U M N 2 0 0 9 

CheckMark is published four 

times a year by the Institute of 

Chartered Accountants of Ontario 

for its over 33,000 members and 

5,000 students. 

Publisher 

Rod Barr 

rbarr@icao.on.ca 

Editor 

Sheila Clenman 

sclenman@icao.on.ca 

Contributors 

Jennifer Andres 

Cate Freeman 

Perry Jensen 

Advertising 

Jennifer Andres 

jandres@icao.on.ca 

Graphic Design 

Thanh Lam 

tlam@icao.on.ca 

Undeliverables to be returned to 

the following address: 

The Institute of 

Chartered Accountants of Ontario 

69 Bloor Street East 

Toronto, Ontario M4W 1B3 

Tel: 416-962-1841 

Toll Free: 1-800-387-0735 

Fax: 416-962-8900 

Website: www.icao.on.ca 

E-mail addresses are: 

first initial and last name (lower 

case) followed by @icao.on.ca 

Canada Post Publications Mail 

Agreement # 40051537 

Printed on recycled, 

chlorine-free and 

acid-free paper. 

Highlights 

A Message from the Chair 3 

Gerry Mills’ message includes a report on Queen's Park adopting a labour 

mobility exception for public accounting and updates on the new CA Act and 

liability reform. 

Rod Barr, FCA, Appointed Institute President and CEO 5 

In early September, the Institute welcomed new President and CEO, Rod Barr. 

Sheila Fraser, FCA, James Goodfellow, FCA, 

and Donald Wray, FCA, Named 2009 Recipients 

of ICAO Award of Outstanding Merit 7 

CA Training Office News 8 

Reports on a recent gathering and collaboration of traditional and non-traditional 

CATOs, and includes an update on the new Practical Experience Requirements 

2009. 

So You Want to be CEO 11 

Guest author Robert Gagnon, CA, reviews the research on what it takes to reach 

the top rung. 

ChAracters 13 

Meet Jennifer Eberman, CA, Ironman athlete and the Institute’s Associate 

Director, Education. 

Celebrating the Profession’s 75 New FCAs, 

Outstanding Leadership and Achievement 16 

Member Services News 18 

Includes reports on the new standards for private enterprises, additions to the 

CA Select Insurance plans, 2009 CA Compensation Survey, updating of PEM 

and QAM, Small Practices Advisory Committee, Free CA Tax Clinics, and more. 

Small Firms Share their Experiences with 

Training CA Students in Non-Audit Engagements 24 

Two small CATOs currently training CA students in non-traditional paths answer 

questions about this new option. 

Eight CAs Honoured with ICAO Award of Distinction 27 

Thank You to 2009 CA Tax Clinic Volunteers 28 

How to Implement a Paperless Office: 

Considerations for Sole Proprietors and Small-Sized Firms 31 

Guest author Ryan Kagan, CA, offers advice on how to go paperless. 

2009 New Life Members 40 

Disciplinary Notices 42

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A Message 

from the Chair 

Along with the Council and management team of the 

Institute, let me begin by expressing my delight at the 

arrival of Rod Barr, FCA, as our new President and CEO. 

Rod’s extensive and hands-on familiarity with CA profession 

affairs was acquired both through a long and accomplished 

career at Deloitte & Touche LLP, and during many years of 

volunteer involvement at the Institute itself. The latter 

included a two-year tenure as our Chair from 2004 to 2006 

and a subsequent seat on the CICA Board of Directors, all 

while remaining a member of the Institute Council. 

All this means that Rod has been able to hit the ground 

running – and running hard – as the following will attest. 

Professional standards and the AIT: Exception granted! 

First, our long effort to protect our province’s internationally 

recognized standards for public accounting in the new 

Agreement on Internal Trade has turned the corner. Just as 

this issue of CheckMark went to press, the Institute 

received formal notification from the Government of Ontario 

that it will indeed mandate a “legitimate objective 

exception” for the province’s rigorous public accounting 

qualification standards, which are required by legislation 

and overseen by the Public Accountants Council. Doing so 

will safeguard these standards from provisions in the 

agreement which would otherwise enable the “automatic 

certification” of professionals from other provinces with less 

rigorous regimes. We are delighted with this result, and will 

update you as implementation details become available. 

Toward the finish line on a new Chartered Accountants 

Act 

Secondly, members will know that passage of Bill 158, an 

entirely new CA Act, tabled in the spring of this year, has 

been hamstrung in part by the lobbying of certain 

accounting bodies outside Canada that claim that 

Gerald Mills, FCA 

provisions in the bill would obstruct entry to providing 

accounting services in Ontario for internationally trained 

accountants. It does no such thing. (Please visit The Facts 

on Bill 158 on the Institute’s homepage, at www.icao.on.ca, 

for the facts of the matter.) 

The prohibition on the unauthorized or misleading use of 

“Chartered” and “Accountant” and its iterations is in fact 

more than half a century old, and poses no impediment 

whatsoever to members of those other accounting bodies 

who have offered their services for many years now in 

Ontario and can continue to do so. In reality, Bill 158 is an 

urgently needed set of updates to the Institute’s regulatory 

authority to deal with a very different environment than 

existed in 1956, at the time of the current CA Act’s 

passage. It simply carries over these restrictions on the 

use of our name and designation. 

Having responded to these objections about Bill 158 with 

information directed to decision-makers at Queen’s Park 

and employers of professional accountants, and in media 

coverage of the issue, we have urged the Ontario 

government to pass this legislation during the fall sitting of 

the House. 

Auditor liability reform: back on the radar 

Throughout the whole period that these matters have been 

in play, and as Ontario wrestled with the worst of the 

recession, the Institute was required by necessity to scale 

back its long-running advocacy efforts toward a sensible 

legal liability regime for audit and assurance professionals. 

This has now changed: In September, the Law Commission 

of Ontario (LCO) – an independent body formed to advise 

governments on legal reform matters – announced a study 

into the impacts of the current, and increasingly ruinous, 

system of joint-and-several liability. 

(Please see page 5) 

CheckMark • Autumn 2009 

3

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to fit our culture?” 

Unfortunately, you can’t know for sure. 

But there are ways to greatly increase your 

chances of finding the right fit. One is to 

work with a recruiter who truly understands 

the importance of corporate culture. 

So how do you find that mythical 

recruiter? Those people who have actually 

demonstrated that they get it? Not just for 

their clients, but for themselves? 

Well, you can start with Lannick. 

Our commitment to developing the right 

corporate culture is more than just talk. We’ve 

recently been recognized as 

one of the Best Workplaces in 

Canada. For the second time. 

“Our core purpose is to help quality people 

and quality companies find the right fit,” says 

Lannick CEO Peter Jeewan, “and that 

applies to our internal team, too. We hire 

great people and we work hard to provide 

them with a great environment.” 

Very simply, we know how important it is 

to get the right fit. How important it is to 

find, not just the candidate who delivers all 

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(From page 3) 

From the LCO announcement: 

The Ontario Business Corporations Act provides for 

joint and several liability for professionals, such as 

actuaries and lawyers, who make, for example, 

misrepresentations in filings under the Act. Thus the 

professional could be liable for all damage resulting 

from misrepresentations, regardless of the degree of 

fault, if the other defendants are not available or able 

to satisfy the damages awarded. The purpose of the 

LCO’s project is to consider whether the BCA should 

be amended to bring in greater alignment with the 

Ontario Securities Act, federal legislation and trends in 

the United States, the United Kingdom and Australia to 

provide for proportionate liability, capped liability, a 

variant of these approaches or other approach to 

minimizing the impact of the joint and several liability 

principle. 

We intend to be a forceful, constructive presence at the 

LCO stakeholder consultation that kicks off this longawaited 

study and at every step thereafter. I’ll keep you 

posted. 

CA continuity at the PAC 

I am also pleased to report that Colleen Gibb, FCA, Ralph 

Neville, FCA, Erik Peters, FCA, and Michael Walke, CA, our 

profession’s representatives on the Public Accountants 

Council, have each been reappointed to a second term. 

These distinguished CAs have helped guide the PAC from 

the outset, through its establishment under legislation, to 

the design and implementation of standards of qualification 

and regulation that all Ontario accounting bodies 

designated under the Public Accounting Act are required 

to meet in order to license their members. We owe them a 

debt of gratitude, and are thankful for the continuity and 

institutional expertise they will bring to their renewed roles 

within this critical public interest organization. 

Private company GAAP: your voices have been heard 

Finally, I am very pleased to note that at its September 

meeting, the Accounting Standards Board (AcSB) 

considered and approved – subject to final drafting and 

balloting – the Exposure Draft, Generally Accepted 

Accounting Principles for Private Enterprises. This 

incorporated many of the key recommendations made by 

the Small Practices Advisory Committee, as well as by the 

members who participated in the consultation sessions 

sponsored by the Institute, and the many other stakeholders 

who provided comments from across the country. The AcSB 

intends to issue the standards late in the fourth quarter of 

2009, with early adoption permitted for 2009 calendar yearends. 

For those who do not want to early adopt, these 

standards will be effective for fiscal years beginning on or 

after January 1, 2011. Specific changes to the Exposure 

Draft that have been approved by the AcSB are highlighted 

in this issue’s Member Services News. 

If you would like to comment on these or any other matters, 

please contact me at the Institute. My e-mail is 

gmills@icao.on.ca. 

Rod Barr, FCA, Appointed 

Institute President and CEO 

In early September, Rod Barr, 

FCA, was appointed by 

Council as the Institute’s new 

President and CEO. 

Rod has had a distinguished 

career with Deloitte & Touche 

LLP, having held many varied 

positions with the firm in 

Toronto, Hamilton, New York, 

Vancouver, London and 

Wilton, Connecticut. From 

1996 until his retirement in 

2008, he was the firm’s National Securities partner. 

Rod has had a long history of service to the CA profession, 

with a particular focus in the areas of student education 

and securities-related matters. He was elected as a 

member of the Institute’s Council from 1999 until 2006, 

culminating with his service as the 2004-2006 Chair. From 

2006 until 2009, he was one of the Ontario representatives 

on the CICA Board of Directors. 

In addition, Rod has been a member of the Council of the 

Institute of Chartered Accountants of BC, a member of the 

Board of Governors of the BC School of Accountancy, 

Chair of the Inter-provincial Education Group, and a 

member and Chair of the CICA Board of Examiners. He 

served on the Securities Regulatory Advisory Group for the 

rewrite of the CICA Handbook sections on securitiesrelated 

engagements from 1998 until 2009. 

Rod was elected a Fellow of the Institute in 1988. He holds 

a BA from the University of Waterloo and is the 2007 

recipient of its Faculty of Arts Alumni Achievement Award. 

In making the announcement, Institute Chair Gerry Mills, 

FCA, noted that Rod is very well acquainted with the 

Council’s strategic priorities and has a keen interest in the 

issues facing the CA profession. 

Gerry Mills added: “Rod Barr will provide the profession 

with outstanding leadership. Throughout his long career at 

Deloitte & Touche LLP, and through his many volunteer 

contributions to the profession, including terms on our 

Council and in the role of its Chair, Rod has continually 

demonstrated a commitment to excellence and to 

maintaining the reputation and prestige of the Chartered 

Accountant designation.” 


5

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Sheila Fraser, James 

Goodfellow and Donald 

Wray Named 2009 

Recipients of ICAO Award 

of Outstanding Merit 

The Institute’s Council has elected Sheila Fraser, FCA, 

James L. Goodfellow, FCA, and Donald G. (Don) Wray, 

FCA, as the 2009 recipients of the ICAO Award of 

Outstanding Merit. The highest honour that the Institute can 

bestow, this award recognizes conspicuous and sustained 

service to or on behalf of the CA profession, including 

service to the community. 

Sheila Fraser has been 

Auditor General of Canada 

since 2001 and has focused 

the Office’s efforts on ensuring 

that parliamentarians have 

objective and reliable 

information with which to 

scrutinize government 

activities and hold the 

government to account for its 

stewardship of public funds. 

Her Office’s reports have 

become much anticipated 

and very influential. Ms. Fraser has also been very active 

within the profession, serving on and chairing numerous 

committees. She is the recipient of many honours, 

including honourary Doctor of Laws degrees from seven 

universities – in recognition of her contributions to the fields 

of accounting and legislative auditing. 

James Goodfellow was a 

Vice-Chairman of Deloitte & 

Touche LLP prior to his 

retirement in 2008, and has 

over 40 years of experience in 

public accounting and in 

providing assurance and 

advisory services, primarily to 

large public companies. Mr. 

Goodfellow has also been 

very active within the 

profession, serving as Chair of 

both the Canadian Institute of 

Chartered Accountants’ Accounting Standards Board and 

Chair of the Canadian Performance Reporting Board. The 

author of several publications, he is also a frequent 

speaker at conferences on issues related to financial 

reporting, corporate governance, securities regulation and 

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Ms. Fraser, Mr. Goodfellow and Mr. Wray were all formally 

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See article on page 16 for more on the FCA presentation 

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7

CA Training Office 

News 

Small firms share their experiences 

with training CA Students in nonaudit 

engagements 

Last issue, we provided a conceptual framework on the 

various applications of the new practical experience 

requirements for training CA students in Ontario. We 

specifically focused on the small-to-mid-sized CA firm, as a 

result of the numerous questions we get from this group. In 

this issue, we wanted to address in depth the more 

commonly asked questions we get from small-to-mid-sized 

firms. We’ve done this by profiling two small CA Training 

Offices that are currently training CA students in nontraditional 

paths – Gary Booth CA Professional Corporation 

and Morgan & Partners Inc. Please see page 24 for this 

article. 

Traditional and non-traditional CATOs came together for the first time at a 

round-table event hosted by the Institute. 


Richard Piticco, CA, CFA 

Director of CA Training Offices 

CA Training Offices collaborating on 

recruiting best practices 

For the very first time, both traditional and non-traditional 

CA Training Offices (CATOs) gathered together to 

collaborate on recruiting issues and best practices. The 

Institute was pleased to host this round-table discussion, 

which was held in July. Traditional CA Training Offices, 

such as Grant Thornton, RSM Richter, Deloitte & Touche, 

Ernst & Young, KPMG and PricewaterhouseCoopers, joined 

the discussion together with recently-approved nontraditional 

CATOs such as the Office of the Comptroller 

General of Canada, Loblaw Companies, Manulife Financial, 

Matson, Driscoll & Domico, Research in Motion, Royal 

Bank of Canada, Telus and Union Gas. With over 50 

participants at this inaugural event, it was a tremendous 

success! 

Sharing strategies on student recruitment 

This fall, more non-traditional CATOs are joining CA firms 

on university campuses to recruit students. The round table 

provided an opportunity for all CATOs to discuss current 

recruiting issues, trends, strategies and hiring best 

practices. Chris Bennett from KPMG shared with the group 

this year’s key recruiting dates, overall timeline and the 

types of recruiting events in which to participate. Tara 

Winslow from Deloitte & Touche discussed group campus 

recruiting best practices and strategies for recruiting in a 

tough economic market. Nikki Simone from the Royal Bank 

of Canada, Margaret Clarke from Manulife Financial and 

Louise Breton from the Office of the Comptroller General of

Canada, shared prior year on-campus recruiting 

experiences and provided useful advice to those CATOs 

that are recruiting for the first time on campus this year. 

Participants also gained valuable insights into the minds of 

accounting students and an understanding of the factors 

that influence their choice of careers and employers. The 

findings were presented by Samir Khan and Anthony West 

from DECODE (Decoding Youth, Young Adults and Young 

Families). The CATOs all found the survey results 

fascinating and useful in helping design a recruiting 

strategy to attract the right students! 

Seen here, from left: Jessica Hutcheson, KPMG; Michelle St. Martin, Loblaw; 

Silka Derouin, CICA; Leigh Carter, Ernst & Young; Kristen Evans, Loblaw; 

Andy Thomas, CICA; and Rachel Azeez, Loblaw. 

Networking 

The event also provided an opportunity for the CATOs to 

meet each other and develop working relationships. To 

further build on networking opportunities, the Institute 

hosted a Q & A session following the recruiting strategy 

discussion and invited representatives from all Ontario 

university career centres to meet the CATOs. This session 

enabled CATOs and Career Service representatives to 

discuss the campus-recruiting process and learn about the 

best ways to become involved with recruiting events that 

put the CATOs directly in front of the students that they are 

seeking. 

Seen here, from left: Nikki Simone, Royal Bank and Kirsten Copperthwaite, 

Research in Motion. 

Working together 

Both the discussion and the Q & A session were very 

successful. The feedback received from all of the 

participants was extremely positive and all the CATOs 

expressed a strong interest in continuing these discussion 

sessions on recruiting best practices. The Institute is 

pleased to support the CATOs by hosting more recruiting 

round-table sessions in future. We hope that the CATOs 

that were unable to attend this year will be able to join us 

at our next session in 2010. 

Thanks to all of our presenters and participants for making 

this event a tremendous success! 

New Practical Experience 

Requirements 2009 

The updated competency-based model used to assess the 

practical experience of all CA students is effective 

September 1, 2009. This impacts CA students beginning 

employment in the traditional path on or after September 1, 

2009, and all CA students employed in non-traditional 

paths. The new CA Practical Experience Requirements 

(PER) 2009 and related publications were mailed out in 

August. If you haven’t received the package or need 

additional copies, please contact Richard Piticco at 

rpiticco@icao.on.ca or visit the Resources section of the 

CATO website at www.catoadvantage.ca. 


9

There Are Answers. 

Daunted by the overwhelming complexity and increasing discontinuity of 

our times – from market meltdowns to dramatic shifts in the competitive 

landscape? Discovering that the usual answers, tried and true remedies 

and conventional wisdom of the past no longer apply? 

Believe it or not, there are answers for these emergent challenges and 

changing circumstances. And those who have these answers and critical 

insights will not only survive, they will prosper and grow. 

The Ontario Institute’s Executive Programs are unique in their 

commitment to enabling CA professionals to find the answers. These 

programs present you with the rare opportunity to step away from the 

pressures of work to join a group of your peers and focus on what you 

need to do to excel in today’s competitive business environment. Take a 

look at these programs – and find your answers. 

2010 Executive Program Curriculum 

Finance Series 

The Controllership Program 

Operational Skills 

Management Competencies 

The CFO Leadership Program 

Operational Skills 

Leadership Competencies 

The Value-Driven CFO 

The CFO as Navigator New 

Leadership Series 

Smart Leaders: Thinking & Innovation Skills for the 21st Century 

Mastering Change: The Leadership Imperative 

The Master Strategist 

The Optimal Negotiator 

Commanding Presence: Advanced Communication and Presentation Skills 

Becoming CEO…and Staying There New 

For dates and locations for these programs, visit www.icao.on.ca/PDExec. 

Executive Programs 

Building Business. Building Careers. 

www.icao.on.ca/PDExec 

or call Robert Gagnon at 1 800 387-0735 ext. 326 

or rgagnon@icao.on.ca

So You Want to Be CEO 

By Robert Gagnon, CA 

It’s the top rung and the pinnacle of a successful career. It 

likely includes a corner-suite office, a gaggle of assistants, 

club memberships and first-class travel – all topped off 

with a generous compensation package. It’s also a 24/7 

job, with lots of smiling photo ops and ribbon cutting, 

countless speeches and handshaking, and for most, a loss 

of privacy and anonymity. Such is the world of the CEO. 

The gravity of the responsibility of the position cannot be 

taken lightly. Decisions made reverberate top-down 

through the organization – affecting all employees and 

rippling out to other stakeholders.Tough decisions land on 

the desk of the CEO and the expression ‘it’s lonely at the 

top’ is often a truism for them. 

For some CAs, it is the treasured career goal. And many 

get there. A CICA study found that in 2008, 23 per cent of 

the top officers in the Report on Business 1000 were CAs. 

In fact, 11.1 per cent of the company chairs were CAs, 9.9 

per cent of the CEOs and 9.2 per cent of the presidents. 

Not only do CAs get there, but they perform well. 

The same study found that companies with a CA as the top 

officer (president or CEO) consistently performed better 

than companies headed by non-CAs in the key metrics of 

Return on Equity, Return on Capital and Return on Assets. 

So how exactly does one become a CEO? There are many 

books, studies and papers on this subject, so in the 

interest of brevity, we’ll highlight the findings of just a few. 

The formula method is popular and essentially is this: Get 

an MBA at the right school, work for the right company, 

adopt specific traits or rules in your conduct, and you’ll 

have a high probability of becoming CEO. 

A U.S. study on CEO Factories by www-success.com 

discovered that “one in five CEOs of public companies with 

a market value of at least $2 billion have one thing in 

common. They all have held a job at one of just 20 

companies... Two companies in particular stand out at 

producing the most CEOs: General Electric and IBM.” 

Both of those companies are huge. However, the study 

also found that on a ‘per employee basis’, consulting and 

public accounting firms rate very high – indeed at the top 

of the list. The top five companies at producing CEOs in 

descending order of odds – based on the number of 

employees – are: 

1. McKinsey 

2. Deloitte 

3. Baxter International 

4. PricewaterhouseCoopers 

5. Ernst & Young 

This is encouraging news for CAs! 

Debra Benton, in her New York Times bestseller, How to 

Think Like a CEO: The 22 Vital Traits You Need to Be the 

Person at the Top, identifies those traits you need to 

succeed. 

Drawing on in-depth interviews with hundreds of the 

nation's top executives, she explains the 22 vital traits that 

make a CEO. Many are fairly obvious – such as being 

good at your job. Others include being nice and a fighter 

for your people. She also identifies being honest and 

ethical as critical. These are naturals for CAs. 

She further describes the CEO attributes paradoxically as: 

• You're gutsy and a little wild – yet modest and in 

control 

• You're competitive and tenacious – yet flexible and 

generous 

• You're willing to admit mistakes – yet unapologetic 

• You're secure in yourself – yet constantly improving 

• You're original and straightforward – yet think before 

you talk 

Jeffrey J. Fox, a sought-after consultant and former 

successful CEO, wrote How to Become CEO, and offers 75 

rules to achieve that ambition. 

Here’s a partial list, shortened to include only those that 

appear original, surprising or perhaps counter-intuitive: 

• Always take the job that offers the most money 

• Think for one hour every day 

• Don't have a drink with the gang 

• Skip all office parties 

• Friday is "How Ya' Doin'?" day 

• Don't take work home from the office 

• Avoid superiors when you travel 

• Eat in your hotel room 

• Overpay your people 

• Have fun, laugh 

• Treat your family as your number one client 

Right-brain approach to success 

While these traits and rules may work for those who 

subscribe to the formula method for achieving CEO status, 

there is also the intuitive or right-brain approach to getting 

to this rung. This method puts the emphasis on feeling, 

intuition, empathy, self-identity, flexibility and adaptability in 

connecting with people as the surest path to success. This 

approach says throw away the playbook and be a real 

feeling person who relates and responds to the needs of 

others – be they employees, customers, suppliers or other 

stakeholders. 

In a study conducted by Bill Joiner and Stephen Josephs 

entitled Leadership Agility, they surveyed managers at 

different organizational levels and arrived at some 

interesting observations. They found that the top one per 

cent of leaders – as determined by the respondents – were 

so highly rated because “they worked with others in a more 

collaborative way because they are better attuned to the 

situation and the needs of other people.” 



11

(From page 11) 

These top leaders, referred to by the authors as 

‘synergists’, can stand in the eye of the storm with what 

they refer to as “synergistic intuitions that can transform 

seemingly intractable conflicts into solutions that are 

beneficial to all parties.” 

An interesting finding in the survey was the fact that half of 

this top one per cent were committed to meditation as a 

regular practice. This allowed them to be grounded, aware 

of their own feelings and the feelings of those around them 

and, very importantly, in real time while it’s happening, not 

after the fact. Is it only a matter of time before Meditation 

101 becomes part of the business school curriculum? 

There is some consensus among the experts and 

researchers: 

• CEOs are the organization’s top role model – how you 

talk, walk, dress, interact with and engage others, and 

go about your business are all keenly observed and 

emulated. You set the tone and the model for 

appropriate behavior. Begin practising early in your 

career. 

• You need to develop breadth – experience in various 

functional areas and different businesses, perhaps 

international exposure, and a second language can all 

be valuable. Continuous learning is your mantra. 

• You must develop your people skills – your ability to 

listen and synthesize information, empower and 

engage the team, articulate your vision, and persuade 

and influence stakeholders is an absolute requirement. 

Mark Palmer, an executive recruiter with his own firm in 

Toronto, has had his share of CEO assignments and has 

some insightful anecdotes on becoming CEO. He recalls a 

conversation he had with one of his clients who ran one of the 

most consistently profitable and best-managed companies in 

his industry. This client also had only a grade 10 education 

and is part of the minority, entrepreneur-turned-CEO class. 

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When asked why he has been so successful, the client 

replied: “Because I have no shareholders and do not need 

to focus exclusively on achieving the bottom line”. He 

added that the way in which he achieved the bottom line 

was equally important. He was also quick to point out that 

he surrounded himself with outstanding managers. 

Mark also relates the story of recruiting a president for the 

Canadian subsidiary of a U.S. parent. The U.S. parent was 

so pleased with Mark’s results that they invited him to 

undertake subsequent searches for all their senior 

executives in the U.S., with one condition. This was that 

half the candidates Mark would present would have 

Canadian business experience. 

When asked why, his client responded that Canadians 

make better general managers than Americans. He 

elaborated by stating that Americans tend to produce 

specialists while Canadians produce generalists, due to 

the sheer size of the respective markets. He felt Canadian 

managers were exposed to a broader perspective earlier 

on in their career and by the time they reached the 

executive suites, were trained to think in broader and often 

more strategic business terms. 

A final comment, and an obvious but important one, comes 

from Bob Muschewske of Personnel Decisions 

International. “You have to want to be at the top to be a 

successful CEO. This is not a role you fall into. Top leaders 

are comfortable calling the shots, persuading others about 

the decisions they think are right and taking the 

responsibility that goes along with the power position.” 

So, do you want to be a CEO? 

Guest contributor Robert Gagnon, CA, Associate Director, 

Professional Development, oversees the Institute’s 

Executive Programs. The Institute is launching its own CEO 

executive program called ‘Becoming CEO and Staying 

There’. Developed and instructed by Dr. Jim Murray, the 

program will debut in the fall of 2010. 

�� 

��

C H A R A C T E R S 

Meet Jennifer Eberman, CA 

Jennifer proudly displays her second 

place medal at Ironman Wisconsin. “It 

was a big surprise. As a matter of fact, 

I’m still surprised. Being the second 

woman in my age group, the 15th 

woman overall and the 7th or 8th 

female non-pro is quite overwhelming.” 

Maybe – if you are lucky – 

once in your lifetime you 

will reach your ultimate 

goal. You will likely think 

about it for some time; 

put a plan together on 

how you are going to get 

there; invest your blood, 

sweat and tears into it; 

and at the end of the 

rainbow, a pot of gold 

may await you. 

Enter Chartered 

Accountant Jennifer 

Eberman who, next 

October, will be living her 

dream as she competes 

in Ironman Hawaii, the 

2010 World 

Championships. 

“I’m excited and scared 

at the same time. At 

Ironman Wisconsin this year, I was fortunate enough to 

come second in my age group which got me a slot for 

Kona – that’s a position to compete at Ironman Hawaii. This 

is where they have the best of the best in the world 

competing so I’ll be heading down next October.” 

By the way, Jennifer competed in her first full Ironman just 

last year! 

“I’m more a runner than a triathlete. I found I started to get 

injured when I was just running all the time so I needed to 

do something to cross-train. But I didn’t really swim and I 

didn’t have a bike. I actually even enrolled in a basic learnto-swim 

program and took some lessons! It’s been a tough 

path.” 

In case you’re not aware, in an Ironman competition, you 

are first required to swim 3.86 km, followed by a 180 km 

bike ride and rounded out with a 42.2 km marathon. 

According to Jennifer, although it sounds pretty daunting, 

it’s really not that bad when you are actually doing it. OK! 

“There are usually 2,500 or so people (80 per cent men 

and 20 per cent women) starting together in the lake, all 

going in a small corridor, so it’s very, very physical. For me, 

the swim is definitely the worst part – I’m so happy just to 

be done. With the bike, I’m seeing a lot more improvement 

and I really enjoy the rides. In the bike portion of Ironman 

Wisconsin, I passed over 600 people – that’s the time to 

take in a lot of calories while you prepare your legs to run 

the marathon. You go as fast as you can through the sixhour 

(or so) bike course but not full-tilt the whole time.” 

Jennifer is usually pretty peppy by the time she gets to the 

run because that’s her thing. At Ironman Wisconsin, she 

swam and biked for a total of seven hours and 20 minutes 

prior to her three hour and 24 minute run! When it’s time to 

run she just resets all of her watches to zero and takes off. 

“I was the 15th woman overall and the 7th or 8th non-pro. 

In the swim I tried to survive and, on the bike I wanted to 

come out in good shape, but nobody passes me on the 

run! If they do I get really 

upset because I’m 

coming from behind, so 

my goal is to pick people 

off.” 

Here come the blood, 

sweat and tears… 

Because she works full 

time and has other life 

responsibilities, which 

include volunteering her 

time to mentor new 

triathletes (some of whom 

are CAs) and working with 

the University of Toronto’s 

Triathlon Club as their 

running coach, she is only 

able to train 20 to 25 

hours a week. There is a 

lot of sacrifice involved – 

friends, family, social life, 

even the kind of calories 

you can consume! 

“I have to get in three to 

four bike rides in a week. 

On the bike leg of Ironman Wisconsin, 

Jennifer rounds a corner of the course 

in full control of the bike and her race. 

“During this portion of the competition 

you are not going full tilt the whole time. 

You try to save some of your legs for 

the marathon. You do your best to take 

in a large number of calories by 

drinking a lot of high-carb drinks and 

you also take special salt pills.” 

One of them, specifically leading up to the race, will be the 

whole day (six to seven hours). You get in and do a run 

afterwards, so your whole weekend is definitely shot. The 



13


next day you will have to do a long run – you’re running 

three to four times a week as well and one of them has to 

be a really long, solid run. Then there’s swimming four 

times a week. You also need weight training to build leg 

muscles, and yoga to keep yourself loose and stretched 

out. You have to be careful with what you eat and you are 

supposed to get a lot of sleep. It’s six to seven days a 

week – all year-round.” 

Was it also mentioned that Jennifer Eberman holds an 

interesting day job? She is Associate Director, Education at 

the Institute of Chartered Accountants of Ontario. Since her 

earlier days as KPMG’s National UFE Director to her 

current role, Jennifer has always had a passion for CA 

education and continues to fulfill that role as she is now 

responsible for the development and delivery of prep 

programs for the CA students. But it wasn’t always so. 

“I was originally in engineering and although I liked the 

classes, I didn’t enjoy the work terms at all. In my last year 

of school, I started taking accounting courses and I did 

well in them. I looked at the CA designation and I liked the 

fact that there was a set career path. I like structure in 

things and with the CA I could see the progression – take 

the courses, go into a program, article and come out with a 

tangible designation. It suits my personality better.” 

Get 

the 

Right 

To Tools ools 

tto 

o 

Fight 

Investment Tax 

ax 

RBC Dominion 

Securities Inc.* 

and 

Royal Royaal 

Bank of Canada are 

separa separate te 

corporate 

entities which 

are 

affiliated. 

*Member 

CIPF CIPF. . ® 

Registered 

trademark of 

Royal 

Bank of Canada. Used 

d under 

licence. 

RBC 

Dominion 

Securities is a registered trademark 

of 

Royal 

Bank of 

Canada. 

Used 

under licence. © Copyright 2009. All righ rights hts reserved. 

10/09 


And life comes full circle as it often does – Jennifer is now 

in the position where she counsels CA students, “Be 

committed and always keep your eye on the prize but at 

the same time keep some perspective on things. Try to 

keep other things in your life so it doesn’t completely 

encompass you, and persevere to the end.” 

Now about that trip to Hawaii, “I’m going this year to watch 

and train. I’ll be riding some of the bike course, practising 

swimming in the ocean, seeing what long runs in the heat 

are like, and just taking everything in as a spectator to try 

to help me prep for next year.’’ 

And what about this incredible accomplishment? “I always 

wanted to get there. It’s the ultimate goal – the dream – 

something that I think almost everyone who does the 

Ironman wants… to get to Kona. I had hoped that I would 

some day but I didn’t think it would be this soon.” 

Jennifer Eberman, may the surf be with you at Kona in 

2010! 

Cate Freeman 

Are you a “CA Character” or do you know someone who 

is? If so, contact Cate Freeman, Manager of 

Communications, at cfreeman@icao.on.ca. 

The upcoming complimentary tary Breakfast Br or Lunch 

Sessions will offer f strategies es to to protect pr client wealth 

estment and simplify p y your yyour practic ppractice. 

ce. 

Benefits Benefifits 

to be discussed: 

�� Plan and nd control contr control 

the amount and frequency frequeency 

of investment income 

�� Mitigate Mitigat te tax fr from om fixed income by rreceiving 

eceiv ving capital gains or dividends 

instead d of inter interest est 

�� Much more mmore 

…INCLUDING A PERSONAL NAL BENEFIT TO YOU 

through 

h efficient efficient preparation preparation 

of a possible ble capital capital loss loss cr created 

by 

your partnership partnership artnership interest inter interest 

To o register r regisster 

for a session on Wednesday, 

November NNovember 

18th (8am) or Tuesday Tuesday, uesday, 

November 

24th (12pm), please contact Schaffer Schaf chaffer 

Wealth 

Management of 

RBC Dominion Do ominion Securities today at (905) 7764 

764 5013 (seating is limited) 

www.schafferwealthmanagement.com www.sc 

chafferwealthmanagement.com ferwealthmanagement.com lee.schaffer@rbc.com 

fer@rbc.com

Career Information 

News 

ICAO Board of Associates help plan 

Institute’s campus strategy 

Board of Associate representatives from across Ontario are seen here in the 

Institute’s atrium. 

On August 31, 35 of the brightest and best students from 

across the province arrived at the Institute for the first 

meeting of the 2009-10 ICAO Board of Associates (BOA). 

The BOA is made up of pre-selected university students 

from 20 campuses across Ontario, who act in an advisory 

and advocacy capacity for the CA profession. 

Members of the Board of Associates are responsible for 

promoting and participating in CA-related events on campus, 

holding regular office hours, and promoting the Institute’s 

Associate Student Program. At the day-long meeting, staff 

from the Learning Stream discussed the campus strategy for 

the upcoming year and talked about the latest on the 

profession’s expanded experience opportunities. In turn, the 

Board of Associates offered tremendous insight into what 

motivates today’s university student and what particularly 

attracts them to the CA profession. 

Mona Ghiami, CA 

Director of Career Information 

An easy way for CA Training Offices 

to fill student positions 

If you are a CA Training Office looking to fill a position that 

will count towards the CA Student practical experience 

requirement, why not post your job description on the 

Institute’s CA Student Job Postings website? This free 

service will advertise your job opportunity to over 1,000 

University Associate Students as well as a small group who 

have already completed some of their qualifying experience. 

Looking to hire? Visit the Resume 

Portal to view student resumes 

The Resume Portal was created to help connect our CA 

Training Offices (CATOs) with CA students and University 

Associate Students who are interested in employment. 

We expect this portal to be particularly helpful for the small 

and medium size CATOs in their student recruitment 

efforts. The CATOs will be able to connect with students 

from all regions in Ontario as the resume portal is designed 

to search for CA students by the candidate's preferred 

location of employment. 

All resumes can be accessed through the secure area of 

the CA Firms page on the Institute’s website at 

https://ebusiness.icao.on.ca/firm/. 

For more information on CA Student Job Postings or the 

Resume Portal, please contact Mona Ghiami, Director of 

Career Information, at 416-969-4233; toll free at 1-800-387- 

0735, ext. 233; or by e-mail at mghiami@icao.on.ca. 

Good luck with your search! 


15

Celebrating the Profession’s 75 New FCAs, Outstanding 

Leadership and Achievement 

The Institute’s Council recently elected 75 new Fellows. 

Fellowship, the highest designation that the Institute confers, 

recognizes outstanding career achievements and leadership 

contributions to the community and the profession. 

FCA elections are held triennially, and any Institute member 

may submit a nomination, which culminates in a secret 

ballot vote by the Council. Rigorous criteria make the FCA 

designation a special honour. To receive this prestigious 

designation, a Chartered Accountant is required to have 

brought distinction to our profession through significant 

accomplishments. 

The new FCAs come from all areas of the province and 

span all areas of public practice, industry, the public 

sector, and education. Including those just elected, 

Ontario’s total of 918 Fellows now comprises almost three 

per cent of the Institute’s membership. 

The presentation ceremony and dinner were held on 

September 24 at the Metro Toronto Convention Centre. In 

attendance were the honourees, their family and friends, as 

well as special guests: Kevin Dancey, President and CEO 

of the Canadian Institute of Chartered Accountants; Doug 

Baker, CICA’s Chair; Bill MacKinnon, CICA’s Vice-Chair; 

and the CEOs of the Manitoba, Alberta and Bermuda 

Institutes, Gary Hannaford, Jane Halford and Annarita 

Marion, respectively. 

At the ceremony, Institute Chair Gerry Mills spoke of the 

significance of the celebration, “If to become a CA is to 

scale the heights of personal and professional 

achievement, then to be recognized this evening is to 

transcend even those benchmarks.” 

In addition to the FCAs, eight ICAO Award of Distinction 

recipients were recognized at the ceremony. This award 

Institute President and CEO Rod Barr (left) and Chair Gerry Mills (right) 

present past-Chair Keith Farlinger (centre) with a commemorative plaque to 

formally recognize Keith’s enormous contributions to the profession during 

his two-year term. 


recognizes CAs under the age of 40 who bring distinction 

to themselves and to the profession. Also presented this 

year, for the first time, was the Christine E. Sinclair 

Community Leadership Award to Michael Gottlieb. (See the 

article on page 27 for more details.) 

Another highlight of the evening was the presentation of 

the 2009 ICAO Award of Outstanding Merit to Sheila 

Fraser, James Goodfellow and Donald Wray. 

To conclude the evening, Institute President and CEO Rod 

Barr joined Chair Gerry Mills on stage to formally recognize 

immediate past-Chair, Keith Farlinger. 

Rod Barr said, “This profession most certainly thrives 

because of the dedication of all of its volunteers. But I have 

to say, from first-hand experience, that past-Chair Keith 

Farlinger has served this profession above and beyond the 

call of duty. 

“You may not be aware that the Institute Chair now serves 

a two-year term. Recognizing that this is a volunteer role 

and that the Chair continues to have full-time business and 

family commitments, the idea was to spread some of the 

Chair’s duties over the two-year term. However, I’m not sure 

that Keith was listening, as he went full throttle throughout 

both of his years!” 

After the formal part of the evening concluded, the new 

FCAs and Award of Distinction recipients, along with their 

family and friends, mingled at a dessert buffet for further 

celebration. 

An announcement appeared in The Globe and Mail on 

September 22 saluting the recipients of the ICAO Award of 

Distinction and on September 24 honouring the new FCAs. 

An atmosphere of excitement and anticipation filled the Metro Toronto 

Convention Centre as the new Fellows accepted their awards on stage.

The names of the new FCAs are listed alphabetically below, followed by their locality. (Where residence and business 

localities differ, both are shown, in that order). Over the next several issues, CheckMark will profile each of the 2009 FCA 

recipients. 

Bruce I. Armstrong, FCA Toronto 

Christopher K. Bart, FCA Hamilton 

Gregory C. Boehmer, FCA Toronto 

Keith Boocock, FCA (deceased) Oakville 

L.G. Pierre Bourgon, FCA Cumberland / Embrun 

Marrianne Bridge, FCA Toronto 

Karyn A. Brooks, FCA Montreal / Verdun, QC 

Lorne M. Burns, FCA Toronto 

Gary F. Burroughs, FCA Niagara-on-the-Lake 

Philip H. Cowperthwaite, FCA Toronto 

Caroline E. Davis, FCA Ottawa ON / Gatineau QC 

David F. Denison, FCA Toronto 

Carol M. Devenny, FCA Rockcliffe Park / Ottawa 

Cynthia L. Ditner, FCA Mississauga / Toronto 

Andrew W. Dunn, FCA Toronto 

James B. Falle, FCA Port Perry / Toronto 

Anita K. Ferrari, FCA Oakville / Toronto 

Walter J. Flasza, FCA Thunder Bay 

Gregory Gallant, FCA Oakville / Toronto 

J. Herbert Gamble, FCA Lindsay 

Donald M. Garrioch, FCA Sudbury 

Paul F. Gibel, FCA Lynden / Hamilton 

Glen Gilbert, FCA Oakville / Toronto 

Peter E. Gilgan, FCA Mississauga / Oakville 

Robert Y. Gold, FCA Toronto 

C. Richard Goldsmith, FCA Toronto 

John R. Gossling, FCA Toronto 

George S. Hamilton, FCA Mississauga 

Gabriel J. Hayos, FCA Toronto 

Trent H. Henry, FCA Toronto 

John M. Herhalt, FCA Vaughan / Toronto 

Donald W. Hunter, FCA Toronto 

Timothy J. Jackson, FCA Waterloo 

Karen A. Kinsley, FCA Ottawa 

Marion Kirsh, FCA Thornhill / Toronto 

Kenneth M. Krauss, FCA Guelph / Toronto 

Cyril M. Leeder, FCA Ottawa 

Denis R.J. Lemieux, FCA Mount Brydges / London 

Valorie M. Leonard, FCA Sudbury 

J. Mark Lievonen, FCA Markham / Toronto 

John B. MacIntyre, FCA Toronto 

Mary Lou Maher, FCA Toronto 

Helen M. Mallovy-Hicks, FCA Toronto 

James R. McCarter, FCA Mississauga / Toronto 

Dianne L. McMullen, FCA Toronto 

Isabel Meharry, FCA Toronto 

Kenneth A. Miller, FCA Collingwood 

Rodney G. Monette, FCA Nepean / Ottawa 

Gary E. Moulton, FCA Toronto 

Gabriel Nachman, FCA Toronto 

Dale M. Needham, FCA Baltimore MD, USA 

Michael J. Nobrega, FCA Toronto 

Anne Marie O’Donovan, FCA Oakville / Toronto 

Neil R. Parkinson, FCA Cambridge / Toronto 

Yezdi N. Pavri, FCA Toronto 

Saul C. Plener, FCA Thornhill / Toronto 

Gerald R. Popp, FCA Oakville / Mississauga 

Richard E. Rooney, FCA Toronto 

Deborah E. Rosati, FCA Ottawa 

Gino A. Scapillati, FCA Oakville / Toronto 

Donald I.S. Scott, FCA Osgoode / Ottawa 

Robert C. Scullion, FCA Richmond Hill / Toronto 

Charles R. Sims, FCA Toronto 

Paul J.M. Szabo, FCA Mississauga / Ottawa 

Anthony M.P. Tattersfield, FCA Ottawa 

Khalid Usman, FCA Unionville / Markham 

Cynthia F. Veinot, FCA Toronto 

Brenda J. Vince, FCA Toronto 

Benita M. Warmbold, FCA Toronto 

David D. Webster, FCA Port McNicoll / Midland 

Gregory G. Wiebe, FCA Toronto 

Gregory D. Wight, FCA St. Catharines 

Carol A. Wilding, FCA Newmarket / Toronto 

Douglas J. Wilkinson, FCA Greenwood / Toronto 

David M. Williamson, FCA Toronto / Aurora 


17


Member Services 

News 

Ingrid Enhagen, CA 

Director of Member Services 

MEMBER SERVICES NEWS 

New standards for private 

enterprises now final 

The Accounting Standards Board approved the content of 

the final accounting standards for private enterprises in 

Canada at its September meeting. The standards are now 

in the final drafting stages. They are expected to be issued 

by the end of the year so that they will be available for 

2009 reporting for entities that choose to adopt them. 

The private enterprise standards give Canadian 

businesses the ability to choose to adopt either new “made 

in Canada” standards or International Financial Reporting 

Standards (IFRS). Private enterprises must decide which of 

the sets of standards to adopt for years beginning on or 

after January 1, 2011. 

Thanks to all who provided comments during the consultation 

processes that have taken place over the last couple of 

years. Your opinions did make a difference! They have 

resulted in notable changes in the new standards. These 

include simplification of recognition, measurement and 

presentation in areas that were identified as being overly 

complex, particularly accounting for financial instruments. 

The simplified accounting requires less use of fair values. 

Also, depending on the nature of the enterprise, there may 

be significant reductions in disclosure requirements. 

Views expressed in response to the consultations held this 

past summer resulted in a number of changes being 

approved to the proposed standards identified in the 

Exposure Draft. These include: 

• addition of a fair value option that permits an 

enterprise to elect fair value measurement for any 

instrument; 

• deletion of the proposed requirements to disclose 

management compensation and amounts of 

government remittances in arrears; and 

• extension of the simplified approach for defined 

benefit plans to include all defined benefit plans, not 

just those for controlling owners and/or their spouses. 

To learn more, go to www.cica.ca/pe or visit 

www.acsbcanada.org and read the Decision Summary for 

September 22-23, 2009. 

CA Select Insurance Plans add to 

portfolio 

Critical Illness coverage: December 15, 2009 deadline 

Have you deferred buying critical illness coverage due to 

all the medical questions on the application form and 

possible medical tests you might have to undergo? For a 

limited time, you can purchase $25,000 of this coverage 

without meeting medical requirements, other than a preexisting 

condition limitation which is outlined on your 

application. It’s guaranteed! The coverage, which covers 

18 common critical conditions, such as life-threatening 

cancer, heart attack, stroke and kidney failure, can provide 

you with the financial resources to help you and your family 

manage your recovery. 

Catastrophic Health Insurance Plan 

A new health insurance plan was added this fall to the CA 

Select family. Perhaps you have a basic health insurance 

plan or are capable of handling a basic level of prescription 

drugs or hospital care for yourself and your family, but would 

be unable to cope if something out of the ordinary came 

along that required substantially more expensive treatment. 

This plan is not intended to provide you with the coverage

that regular health insurance plans do; rather it provides 

protection for the much more expensive treatments and 

expenses where those plans will abandon you. As such, 

catastrophic coverage kicks in above high deductible levels: 

$4,500 for annual drug costs, and $7,500 for things like 

nursing care or medical equipment. Once you obtain the 

coverage, you can have it for life, and you can extend it to 

your spouse, dependents, and adult children and their 

dependents. 

Visit icao.on.ca/CASelect for more details and to apply. 

2009 CA Compensation Survey 

If you participated in this year's Compensation Survey 

conducted by the CICA, you received an advance copy of 

the summary results in mid-September. Results were 

released to the public on a regional and summary basis in 

mid-October. For further details, visit Compensation Survey 

in the CA section of the Institute's website. 

VIA Rail preferred rate doubled 

VIA Rail increased our preferred discount rate from 5 per 

cent to 10 per cent on all VIA rail train tickets and routes, 

effective September 23, 2009. The rate applies to the best 

regular pre-tax fare available to the public offered by VIA 

Rail when the ticket is purchased. For more information, 

please visit Member Benefits in the CA section of the 

Institute's website. 

New Certified Financial Planner 

Certification Program Guidelines 

There are new Certified Financial Planner (CFP) 

Certification Program Guidelines that become effective on 

July 1, 2010. The program changes represent important 

news for those contemplating earning CFP certification 

under the Approved Prior Credential (APC) policy. 

Candidates who are qualifying under the APC policy must 

successfully complete both new exams and the Capstone 

Course, but do not need to complete an approved Core 

Curriculum education. There are two examination sittings 

remaining in the current six-hour, multiple choice format: 

November 14, 2009 and June 12, 2010. If candidates do 

not successfully pass one of these exams by July 1, 2010, 

they will be required to comply with the new certification 

program policies. More information regarding the new CFP 

certification requirements can be found on the Financial 

Planners Standards Council’s website at www.fpsc.ca. 

Networking opportunities 

Reminder! Opportunities to network with your colleagues 

are posted online in the following areas of the CA section 

of the Institute's website: 

• CA Sports Leagues - Some of these leagues fill up a 

year in advance, so plan ahead. 

• District Associations [log-in required] - Attend a District 

Association meeting close to your work or to your 

home. The technical sessions offered may qualify as 

verifiable continuing professional development (CPD). 

• Networking events - Periodically we are notified of 

other events, such as tax practitioner breakfasts or CA 

firm challenge events for good causes, such as to 

raise funds for not-for-profit organizations. 

• Volunteer Opportunities: Free CA Tax Clinics - Join 

your colleagues and volunteer at a Free CA Tax Clinic. 

More information is provided below. 

FREE CA TAX CLINICS 

Thank you to the 2009 volunteers! 

We would like to take this opportunity to again thank 

everyone who participated in making the 2009 Free CA Tax 

Clinic Program a great success. Record levels of support 

were provided by volunteers and staff, and over 11,500 

returns were completed by 1,600 volunteers! 

As in prior years, we posted the names of the volunteers 

who gave us permission to do so in the Free CA Tax Clinic 

section of the Serving the Public area of the Institute's 

website. These names are also included in this issue of 

CheckMark on pages 28 and 29. Thank you again! 

See your name here next year! 

Planning for the 2010 Free CA Tax Clinics has already 

begun and we need your help to continue to make this 

program a success. 

If you have not previously volunteered, we would like to 

remind you that volunteers come from all sectors – 

including industry, public practice, government, academe 

and retirees. All we ask is that you volunteer three to four 

hours of your time to prepare tax returns for low-income 

Ontarians. The tax returns are not complicated and the 

Institute provides resources (including TaxPrep software 

donated by CCH) and training. If you are a CA student, 

you need to have successfully completed a tax course as 

a pre-requisite to volunteering. 

Attention CA Firms 

All firms, large or small, are encouraged to take part in the 

2010 Tax Clinics. You can be involved in a number of ways, 

including: 

• Sponsor a clinic in your community. Your firm 

(whether a national firm or a sole practitioner) can take 

on a coordination role by providing volunteers at a 

clinic co-sponsored with an agency at their location. If 

you are interested in this option, you may already have 

an existing association with an agency in your 

community, or this may be the opportunity to develop 

a new relationship. 

• Encourage your CAs and CA students to volunteer. 

Please encourage CAs and CA students at all levels 



19

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and years of experience to volunteer – at both clinics 

you sponsor and at other Free CA Tax Clinics in your 

community. 

• Issue a challenge to other CA firms. See who can 

prepare the most returns, sponsor the most clinics, or 

provide the most volunteers. We’ll post your success 

stories on our website. 

Sign up today 

Sign up today at www.icao.on.ca/taxclinics to enjoy the 

very satisfying experience of helping people in your 

community. 

ADVISORY NEWS 

Update of PEM and QAM for new 

Canadian Auditing Standards 

The adoption of Canadian Auditing Standards (CAS), which 

are effective for audits of financial statements for periods 

ending on or after December 14, 2010, requires changes to 

guidance material to ensure that it remains relevant and 

helpful. The following provides a brief update on the progress 

of updating and revising the CICA’s Quality Assurance 

Manual (QAM) and Professional Engagement Manual (PEM). 

QAM 

Update #3 to QAM will address the new Canadian 

Standard on Quality Control release entitled Quality Control 

for Firms That Perform Audits and Reviews of Financial 

Statements and Other Assurance Engagements (CSQC 1). 

The effective date of this standard is December 15, 2009. 

The development of revised material for this update is well 

underway. The revised guidance will address several 

important aspects of the CSQC 1, including: 

• Timing of the file quality review 

• Monitoring process 

• Division of the monitoring process into two parts: 

ongoing and the cyclical inspection of a selection of 

completed engagement files 

• Span of the monitoring cycle 

• Documentation of the monitoring 

This update is expected to be finalized and released to 

QAM subscribers by early December. 

PEM 

The news on PEM is much the same, except the challenge 

is significantly greater. Not only does the guidance need to 

address all of the changes made to the standards, but the 

forms, worksheets and other tools provided also need to 

be reviewed and modified to ensure that they remain 

appropriate and relevant. 

The initial process in the development of the revised 

material has been completed. A draft of the updated and 

revised manual is going through our review and quality 

control processes, which should be completed by the end 

of November. The results of the review process will 

determine the timing of the release to PEM subscribers, but 

we currently expect it will be available in the spring of 

2010. We will provide further updates as we proceed 

through the review process. 

We will also keep you updated regarding significant 

changes being made to the manual. One change that has 

been made is to rename PEM. To reflect the fact that the 

new manual is based on the CAS, and to differentiate it 

from the existing guidance material, the name of the new 

edition of PEM is the Canadian Professional Engagement 

Manual (C*PEM). Watch for it in 2010! 

Update from Small Practices 

Advisory Committee 

The Institute’s Small Practices Advisory Committee met in 

late September. The key items on the agenda included 

private enterprise GAAP and licensing. 

The Committee is pleased to report that the private enterprise 

GAAP standards will be finalized by the Accounting Standards 

Board (AcSB) in the very near future. During the Exposure 

Draft (ED) period in the summer of 2009, the Committee 

undertook an awareness and informational campaign through 

a series of e-mails to their fellow small practitioners, which 

included the content of the Committee’s submission to the ED 

for their reference. It is likely no coincidence that many of the 

responses to the ED submitted by Ontario members contained 

some or all of the Committee’s recommendations. More 

importantly, the final standards included all of the Committee’s 

significant recommendations. The Committee would like to 

thank their fellow small practitioners for their participation. To 

facilitate the transition, the Committee has recently 

recommended that the Institute provide professional 

development courses on the new standards. 

Regarding licensing, the Committee expressed concerns 

over the current public accountancy licence renewal 

process. They believe that the current hour-based 

requirements are too narrowly focused given the practical 

realities of the profession, and place too much emphasis 

on quantity rather than quality. They believe this will 

adversely affect the ability and interest of many small 

practitioners, who are otherwise qualified, to renew their 

licence. The Committee developed a number of 

recommendations and will continue to work with the 

Institute on this issue. 

In other matters, the Committee consulted with the 

Institute’s Government Affairs area to advance the issue of 

allowing non-members to become shareholders of a 

member’s professional corporation. As well, staff from the 

Institute’s CA Training Offices area briefed the Committee 

on changes to the practical experience requirements as 

they relate to sole practitioners and small CA firms. The 

Committee will closely monitor developments on these 

matters. 


21

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Small Firms Share their Experiences with Training CA 

Students in Non-Audit Engagements 

Small and mid-sized firms have many questions about the 

relatively new option of training CA students in nontraditional 

paths. To help answer some of the most 

frequently asked of these questions, Richard Pitticco, CA, 

CFA and Phan Du, CA, the Director and Associate Director 

of the Institute’s CA Training Offices (CATOs), have 

interviewed and profiled below two small CATOs that are 

currently training CA students in non-traditional paths. 

Gary Booth, CA – Sole Proprietor 

and CA Training Office 


Gary Booth, CA, is the sole 

proprietor of Gary Booth CA 

Professional Corporation. The 

firm has been approved to 

train two CA students in a 

non-traditional path where 

students will work on review, 

compilation and taxation 

engagements. 

Phan: Why did you become a 

CA Training Office in a nontraditional 

path? 

Gary: We have been hiring 

university co-op students for the past 10 years. These co-op 

placements were between four to eight months long. We 

spent a lot of time and effort in training our students in many 

areas, such as preparation of financial statements, 

bookkeeping, personal and corporate tax returns, and 

numerous other jobs as they come up. Depending on the 

length of the co-op term, some students would work on 

review engagements and be able to complete a 

straightforward one. We had many students who would like 

to return to our office for a second or third co-op term, or 

work for us after they had graduated. Unfortunately, this was 

not possible since we were not an approved training office. 

The situation was that our students were getting great 

training and enjoying the work, but the efforts they were 

putting in were not getting recognized, as none of their 

hours counted towards their CA designation. 

Phan: How does this program fit with your business growth 

or succession-planning strategies? 

Gary: We have now signed up a student in our nontraditional 

path who worked for us about two years ago as 

a co-op student. We are in the process of hiring another 

co-op student who also worked for us about two years ago. 

If we had not become a CA Training Office, these students 

would not have been able to join us. 

Phan: As a non-traditional CATO, your CA students will not 

be eligible to obtain a licence to practise public accounting 

upon becoming a CA. How does that impact your staffing 

needs and/or succession plan? 

Gary: The students are well aware that we are a nontraditional 

CA training office and they will not automatically 

be eligible to obtain a licence to practise public 

accounting. However, since we are now able to satisfy our 

staffing needs, we are able to increase our audit and 

review engagement work. We are hoping that we will have 

sufficient assurance hours in the future to satisfy the 

assurance requirements for our students so that they will 

be able to become eligible to obtain a licence at some 

point in the future. 

Phan: Has your ability to recruit CA students had an 

impact on the quality of employees you have attracted? 

Gary: Since becoming a CA Training Office, we have had a 

significant increase in the number of students applying, as 

well as those with years of experience. 

Phan: Are you concerned about your ability to retain the 

students post-qualification? 

Gary: At this stage, we are not concerned about our ability 

to keep these students once they have qualified. What we 

have found is that our staffing requirements are now much 

easier to resolve and the candidates who are applying are 

top quality. Also, our initial training of co-op students is 

paying off in that they appear eager to join us after 

graduation, and want to work for us at least until they 

qualify. 

Phan: What has been the best experience you have had 

with training students? 

Gary: The students enjoyed training with us because the 

work was varied and they had the opportunity to become 

involved in the entire job from beginning to end. For many 

of our non-assurance clients, they would do the 

bookkeeping, then prepare the financial statements and 

corporate tax return, and then meet the client to go over 

the financials. The students, I found, were eager to take on 

a lot of responsibility, and would do what was required to 

ensure the job was completed accurately and on time. 

Phan: Do you have any advice for other small CA firms or 

sole proprietors who are thinking about becoming a CA 

Training Office? 

Gary: Before we were an approved CATO, students 

frequently would keep in touch after their co-op term and it 

was very interesting to hear what many had to say about the

places where they were now working. Many students had 

gone to work for much bigger firms and felt they were not 

getting the practical work experience that we offered, and of 

course, many were putting in extremely long overtime hours. 

The students our office trained received a full 

understanding of how an accounting firm operates and the 

expectations of the clients. They learned that customer 

service was extremely important and made sure that we 

met the clients’ expectations. We always thought that 

students who work for smaller firms can receive excellent 

accounting experience in many relevant areas. The 

experience would not be the same as in a big firm, 

especially in the audit areas. However, in many other ways, 

the students would be receiving practical experience that 

they could use in a variety of positions if they wished to go 

into industry or the government, or have the knowledge to 

perhaps consider opening their own accounting firm. 

I would recommend any firm that is willing to spend time 

and effort to train students, to consider this possibility. 

Phan: Are there any other comments that you would like to 

share about your experience with this program? 

Gary: I have advocated and sent letters for the past 10 

years on how I thought the training process needed to be 

changed. It has happened and I am very pleased. It is a 

win-win for students and employers alike. 

John Morgan, CA, CA•CIRP, CFE, 

CBM – Insolvency & Bankruptcy and 

CA Training Office 

Morgan & Partners Inc. 

provides insolvency and 

trustee bankruptcy services 

and is owned by John 

Morgan, CA, CA-CIRP, CFE, 

CBM. He also owns JJM & 

Associates Inc., which 

provides litigation support and 

forensic accounting services. 

While the CA student will 

primarily work at his two firms, 

the three-year training 

program also includes 

secondments to two local CA 

firms where the student will be 

exposed to audit, review and tax engagements. 

Richard: Why did you become a CA Training Office in a 

non-traditional path? 

John: Most small-to-medium sized companies need a parttime 

CFO, and look to their advisors to provide such a 

service. In order to add value, consultants need not only 

understand the business model but also when these 

businesses are getting into trouble. Exposing a CA student 

to an insolvency practice is, in my opinion, a fantastic 

training opportunity where the CA student can develop the 

competencies required of the profession, gain hands-on 

experience with many aspects of running a business – 

including what not to do – and develop a specialty in fraud 

and forensics. 

Richard: In developing your CA Training Program, you 

decided to partner with two local CA firms, neither of which 

were previously approved to train CA students. Why did 

you include these secondments and how did you develop 

this partnership? 

John: Seconding the CA student to a CA firm environment 

provides a more well-rounded experience, which includes 

understanding the integration of tax consequences from 

certain transactions. In addition, it enables the CA student 

to earn chargeable hours that will assist in subsequently 

obtaining a licence to practise public accounting, should 

that be a career path of interest down the road. The 

training partnership was merely an extension of a preexisting 

alliance between the three firms. 

Richard: How does this program fit with your business 

growth or succession-planning strategies? 

John: Corporate reorganizations and forensics are big and 

growing practice areas that require individuals being 

trained to think in a different way from the traditional 

assurance-based model. My business has grown from 

referrals and established networks, so grooming the talent 

in-house provides me with the confidence of handing over 

client files earlier than would be the case if I had to train a 

qualified CA on the specialized knowledge that can only 

be achieved by working in the business. In addition, there 

are very few licensed trustees in Ontario, so providing an 

opportunity for a CA to subsequently become a licensed 

trustee fosters a potential succession plan that would 

otherwise be quite limited in scope. 

Richard: As a non-traditional CATO, your CA students will 

not necessarily have the chargeable hours required to 

obtain a licence to practise public accounting. How does 

that impact your staffing needs and/or succession plan? 

John: A licence to practise public accounting is not 

required for my business and the two sole proprietors that 

the CA student is seconded to weren’t necessarily viewing 

this arrangement in terms of succession planning. Rather, 

the sole proprietors benefitted from an extra resource 

without the obligation of a full-time headcount. Of course, a 

viable exit strategy for any firm is to sell the business, and 

there is the potential for the student to obtain the required 

chargeable hours for licensure in order to take advantage 

of those opportunities. 

Richard: You have been involved with training students 

pursuing various designations. Has your ability to recruit 

CA students had an impact on the quality of employee(s) 

you have attracted? 



25


John: I have experienced a higher calibre student with the 

benefit of having another avenue to recruit from 

prospectively. In fact, since the Institute has published our 

status as a CA Training Office on its website, I have received 

many enquiries from prospective students – a situation that 

didn’t exist before becoming a CA Training Office. 

Richard: Are you concerned about your ability to retain 

your CA student post-qualification? 

John: You do your best to provide an exciting environment 

while offering new challenges. Leaving our firm to gain 

experience in industry isn’t necessarily a bad thing – it 

provides the newly qualified CA with a well-rounded 

experience, further equipping the professional with the ability 

to think outside of the box. Regardless of the outcome, I 

believe there are two fundamental benefits: first, a 

professional that trained at my firm is a referral source for 

future business, and secondly, I have been involved with 

training a CA who is well equipped to advise the small-tomedium 

sized business, which is good for the CA profession. 

Richard: What has been the best experience with the 

program to date? 

John: It’s having the support from the CA profession to 

assist in developing a customized training program for CA 

students. The CA profession has taken the idea from 

conception to implementation, providing a basis from 

which we can further strengthen its application. 

jennifer 

mazzarolo CA 

jon 

nagamatsu CA 


alex 

barker CA 

jonathon 

morris CA 

carmela 

tersigni CA 

The Mason Group specializes in the recruitment and placement of fi nance and accounting professionals 

because that’s the world we come from. For permanent or contract searches – for all levels from 

Financial Analyst to CFO – we know what it takes to help our clients and candidates fi nd their perfect fi t. 

Richard: Do you have any advice for other small CA 

Training Offices and/or sole proprietors who are thinking 

about becoming a CA Training Office? 

John: Don’t be afraid of the challenge of taking on something 

that’s not in the traditional sense. CA students gaining 

practical experience outside of the traditional audit path can 

provide a fresh perspective on your business, by challenging 

methodologies and/or bringing a new perspective to the 

table. 

For example, my current CA student has already developed 

a skeptical approach in analyzing certain financial 

information, which has resulted in her providing me with 

valuable evidence on a particular file that I might have to 

bring to court. In addition, the application process confirmed 

the substance of the practical experience. 

Richard: Are there any other comments that you would like 

to share about your experience with this program? 

John: The fundamental requirements built into the system 

for any CA Training Office continue to develop the key 

requirements for good CAs without diluting the value of the 

designation. If you are interested in further discussing my 

experience, please feel free to contact me at 

johnmorgan@morgantrustees.com. 

it takes one to know one 

andrea 

cromie CA 

Discover yours at www.masongroup.ca 

jeff 

campin CA 

mark 

frankel CA 

Mississauga 905-804-1100 Toronto 416-733-9393

Eight CAs Honoured with ICAO Award of Distinction 

Eight young Chartered Accountants were recently honoured as the 2009 ICAO Award of Distinction recipients. The ICAO 

Award of Distinction was established three years ago in order to acknowledge and profile those younger (under 40) Ontario 

CAs who have brought distinction to themselves and to the profession because of their leadership and achievement in 

various aspects of their personal and professional lives. The ICAO Award of Distinction is given every three years, 

coincident with the Institute’s FCA elections. 

The recipients of the ICAO Award of Distinction demonstrate excellence in a number of areas of service and achievement, 

including education, promotion of the profession, volunteerism and service to the profession and community and careerrelated 

achievements. They are chosen following a rigorous nomination and selection process that culminates in a secretballot 

vote of the Institute’s Council. 

The 2009 ICAO Awards of Distinction were presented to these eight CAs in conjunction with the FCA ceremony and dinner 

held on Thursday, September 24 at the Metro Toronto Convention Centre. 

At the presentation ceremony, Chair Gerry Mills remarked, “Those younger members who will receive the Award of 

Distinction this evening will do so because they have managed to distinguish themselves from an already distinguished 

cohort: those of the ‘best and brightest’ young Ontarians who chose to enter the CA program and survive its rigours.” 

Michael M. Gottlieb was the first ever recipient of the Christine E. Sinclair Community Leadership Award, which was 

established to acknowledge and profile a younger CA from among the recipients of the Award of Distinction who has 

brought distinction to him or herself and to the profession through exceptional leadership in community volunteerism. As an 

additional honour, the Institute donates $2,500 in the recipient’s name to a registered charity of their choice. 

An announcement appeared in The Globe and Mail on Tuesday, September 22, 2009 saluting the recipients. 

Shown below, at the official presentation ceremony, are the eight CAs who have been honoured with the 2009 ICAO Awards 

of Distinction. 

Christopher J. Alexander, CA 

Rudson Valuation Group Ltd. 

Toronto 

Michael M. Gottlieb, CA 

Shared Services West 

Toronto 

Michael K. Banks, CA 

Horne LLP Chartered Accountants 

Burlington 

Christie E.V. Henderson, CA 

Henderson Partners LLP 

Oakville 

Gary A. Chin, CA 

Ernst & Young LLP 

Toronto 

Carlos R. Redfern, CA 

Deloitte & Touche LLP 

Windsor 

Jerome P. Dwight, CA 

BNY Trust Canada, 

The Bank of New York Mellon 

Toronto 

Amit K. Seth, CA 

Saisethsons Hospitality 

Group Inc. 

Toronto 


27

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Andrew Chaykoski - Danting Chen Jin Chen - Lei Chen - Meng Chen 

Shelley Chen - Tai-Wei Chen - Ting Chen Xi Chen - Xiating Chen - Yan Chen 

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Jason Cherney - Mike Chester Arthur Cheung - Benjamin Cheung 

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Laurie Clark - David Clarke Nadine Clarke - Judah Cohen 

Jordan Cole - Carol Coleman Elise Collins - Jessica Collins - Mark Colvin 

Patricia Colwill - Dawson Coneybeare Lisa Constantine - Sarosh Contractor 

Colin Cook - Kristen Cornell - April Cotton Thank you to all the 

William Coulby - Laura Couvrette 

Michael Cowan - Brian Cowell David Crack - Elliot Craig 

Kathleen Crawford - Betty Anne Crouter 2009 Free CA Tax Clinic Kassandra Cruickshank - William Crysler 

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Kristopher Denis - James Dennis - Gary Dent - Emily Denyes - Katarzyna Deren - Rene Deroy - Patrick Dervin - Avni Desai - Fred Deschenes - Karine Desjardins - Alicia 

Desrosiers - Alana Detenbeck - Alan Dewling - Shawn Deyell - Carla Di Pietro - Barb Di Silva - Cindy Dieng - Mark DiGiandomenico - William Dines - Michael DiPasquale 

Jeremy Doan - Sarah Dobenko - Ben Dobrocky - Ivan Dolynskyj - Jordan Patrick Domey - Jason Donn - Robert Donofrio - Adrian Donoghue - Laurie Donovan - Michelle 

Doran - Catrina Dowie - Andrew Drake - Charlene Duchene - Mike Duerden - Blair Duffy - Danielle Dugas - John Duggan - Linda Dulmage - Roy Dulmage - Jason Dulude 

Jocelyne Dumaresq - Jennifer Duncan - Paula Duncan - Michael Dunk - Michelle Dunkel - Tambra Dunn - Corey Duphney - Patrick Dupont - Gisele Durocher - Gene Dy 

Kevin Dyck - Dianne Dyer - Bartosz Dziarski - Jennifer Eaton - Jennifer Eberman - Zamreen Ebrahim - Adam Eckert - Alexandar Eftimov - Hazar El Aoud - Terry Elder 

Rami El-Jurdi - Bob Elliot - Keltie Ellwood - Mark Ellwood - Shannon Emmett - Ingrid Enhagen - Nancy Estey - Samantha Evans - Rita Evdokimova - Lisa Eves - Joseph 

Falcone - Justin Farbstein - Chris Fardell - Siddiq Farid - Carrie Farr - Lara Favas - Julianne Favron - Heba Fayed - Adrian Feigelsohn - Melissa Fenton - Bradley Ferguson 

Jessica Ferrari - Celeste Ferreira - Raffaele Fiala - Shannon Field - Kristine Finch - Peter Finch - Alexandra Finkel - Geoffrey Fisher - Ian Fisher - Ashleigh Fitzgibbon 

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Waqas Hameed - Ross Hamilton - Lynda Hammond - Derek Han - Krista Han - Maurice Hanley - Kathryn Hannah - Lianne Hannaway - Melissa Hannon - Sami Hannoush 

Mark Harendorf - Sachit Harish - Kristen Harner - Robin Harris - Sarah Harris - Thomas Harris - Tiffany Harris - Tara Hartman - John Harty - Ann Harvey Hope - Nasir Hasan 

Umar Hasan - Zubair Hasan - Stuart Haslett - Sam Hassaan - Jack Hasserjian - Andrew Hauraney - Chuck Havill - Najib Hayat - Janet Hayes - Anne Healy - Andrea Hedges 

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Bernard Meltzer

How to Implement a Paperless Office: Considerations for 

Sole Proprietors and Small-Sized Firms 

By Ryan Kagan, CA 

The ways in which accounting firms conduct their business 

and manage their documents have radically changed, 

compared to just a few years ago. Today, many accounting 

firms have implemented paperless offices as a means to 

improve file preparation efficiency. It can even make sense 

for a sole proprietor to go paperless. 

It is important to note that the term “paperless” does not 

necessarily mean that all paper is eliminated; 

rather, the focus is on producing and retaining 

documents in an electronic format. 

Implementing a paperless office requires 

making a number of decisions, and 

investing in resources, which I’ll 

discuss in further detail. To start 

with, however, the following 

decisions will need to be 

made when implementing a 

paperless office: 

• How information will be stored, 

maintained, accessed and purged; 

• Which file management system will be 

appropriate for storing files; 

• Determining which hardware (such as 

scanners) is required. A firm must also assess 

its hard disk capabilities to ensure that it’s able 

to handle the required volume of clients; and 

• How to train staff to effectively adapt to the paperless 

office environment. 

Benefits 

One of the key benefits of a paperless office is the time 

efficiency that is created when retrieving documents, not to 

mention the convenience of being able to easily retrieve a 

document when away from the office. 

A paperless office also reduces the risk of files being 

misplaced or becoming inaccessible to others for 

prolonged periods of time. This also increases the security 

of data, as there is less risk of misplacing files inside or 

outside the office. 

Another benefit is the ability to conduct peer reviews, such 

as practice inspections or file quality reviews, in an efficient 

manner. Documents do not need to be physically sent to 

the reviewer, nor is the reviewer or inspector required to be 

onsite to review documentation. 

Lastly, there may be direct cost savings from reduced 

storage costs and a decrease in paper purchases, as well 

as label printing and photocopier maintenance costs. 

Challenges and Limitations 

The most significant challenge in transforming to a 

paperless office is altering attitudes, as people may be 

reluctant to change. Many individuals still want to view 

documents in hard copy format. Changing perceptions can 

be done through training that demonstrates how much 

more efficient and effective a paperless office can be. 

Another possible limitation is how willing - 

or unwilling - staff are to deal with potential 

problems that may result from computer 

equipment malfunctioning and/or network 

connectivity issues. 

Quality Control 

Even though the benefits of 

a paperless office may 

outweigh its limitations, 

there are some challenges with 

respect to document management and 

document retention. This requires firms to 

design and implement quality control 

procedures to maintain and retrieve electronic 

documents. The new quality control standard 

CSQC 1, Quality Control for Firms that Perform 

Audits and Reviews for Financial Statements 

and other Assurance Engagements, which is 

effective December 15, 2009, addresses some of these 

issues. 

Document Management 

According to the CSQC 1, “whether engagement 

documentation is in paper, electronic or other media, the 

integrity, accessibility or retrievability of the underlying data 

may be compromised if the documentation could be 

altered, added to or deleted without the firm's knowledge, 

or if it could be permanently lost or damaged.” 

Accordingly, controls that the firm designs and implements 

to avoid unauthorized alteration or loss of engagement 

documentation are critical. CSQC 1 makes various 

suggestions on which controls to implement, such as use 

of passwords and having appropriate back-up features. 

Document Retention 

If you retain files for a long period of time, it would be wise 

to keep them in electronic form as you can save on storage 

costs. However, you must make sure you still have a copy 

of the original software and the appropriate hardware to 

allow you to access the documents in the future. In 



31


addition, it is important to note that backups are critical, 

and may involve additional costs. 

Summarized below are guidelines to consider in 

determining how long to retain documents. When in doubt, 

you should seek legal advice. 

• CSQC 1 states that “in the specific case of audit 

engagements, the retention period would ordinarily be 

no shorter than five years from the date of the auditor's 

report, or, if later, the date of the group auditor's report.” 

• The Council Interpretation for Rule of Professional 

Conduct 218, Retention of documentation and working 

papers, states: “a member should retain documents 

for a period of time to properly service clients. A 

general guideline would be a period of 10 years, 

during which all records are maintained, and a longer 

period of time, perhaps indefinitely, or the actual time 

period where required by statute …" 

• According to the Canada Revenue Agency, you must 

keep all of the records and supporting documents that 

are required to determine your tax obligations and 

entitlements for a period of six years from the end of 

the last tax year to which they relate. CRA further 

emphasizes that you are responsible for maintaining 

appropriate hardware and compatible versions of 

software in order to access electronic documents for 

at least the last six years. For more information, refer to 

the Articles section in the Practice Matters area under 

the CA Firms tab of the Institute’s website. 

How to Implement a Paperless Office: Structure 

It is critical to create an appropriate structure when 

designing how information is going to be stored, 

maintained, accessed and purged. There are two options 

for this. The first option is for a firm to design its own 

paperless office system. The second option is to purchase 

software solutions that provide a standardized paperless 

office system. A firm will need to decide if it has the 

expertise to customize its own paperless office system or if 

it needs to purchase software. In general, manufactured 

software provides better comfort, as it is a tested product. 

The structure of a paperless office system is extremely 

important as it dictates how files are labeled and retrieved. 

Files can be managed in a directory format, indexing 

format, container format, or some combination of the three, 

as described below. A firm will need to decide which file 

management system is appropriate for its purposes. 

Directory formats: A directory system places all tax returns 

in one folder, all working paper documents in another 

folder, and all permanent files in a different folder. This 

segregation by type of work is one method of organizing 

the information on hand. 

Indexing format: The indexing format structures linkages 

between documents, enabling an easy wild card search 

function. This is commonly provided for by CCH, Doc-it 

and other paperless software solutions. Locations can be 


different, but related documents are linked together. This 

can create easy manoeuvering between different 

documents no matter where they are stored, resulting in 

documents being easily accessible. Most document 

management solutions use an index format. 

Container format: An example of a container format is 

Caseware, where documents are stored by directory. For 

example, documents will be stored in containers that are 

organized by client and year. Therefore, documents are 

accessible by having knowledge of the year and the client 

and the ability to locate the container. This tends to be easier 

for smaller firms, as a client’s tax return, Caseware file and all 

other documents associated with the particular client can be 

quickly accessed. In addition, far less training is needed. The 

only required additional step is to establish a consistent file 

labeling system for each electronic document created. A 

common strategy is to include client – date – description. 

Changes to your existing system 

To go paperless, the most basic concept to understand is 

what you want to change from your existing filing system. 

The changes are as follows: 

1. Paper file folders will convert into document manager 

files, such as a Caseware file. This file replicates the 

function of a paper file folder; however, it is far more 

sophisticated. There may be training required in order 

to fully understand the sophistication of an electronic 

file folder. It is critical that these electronic file folders 

are able to compress, as this is a key factor in 

managing hard disk space, and reducing unnecessary 

upgrades in hardware. 

2. Photocopies, printed e-mails, faxes, and other similar 

items will convert from paper into a PDF document, 

which is done using Adobe Acrobat software. It is 

critical to use this type of document, as it is a more 

effective utilization of hard disk space. 

3. It is advised to keep all signed documents in a 

permanent paper folder; however, at the same time, it 

is also recommended to scan them in so that it 

becomes possible to quickly review that all documents 

are signed through the electronic version. Whether 

signed documents are acceptable in a scanned format 

depends on the type of document. The basic rule of 

thumb is that if the signed document would be 

acceptable through fax, then it is acceptable as a 

scanned image. 

Hardware considerations for housing a paperless office 

The following decisions regarding hardware will need to be 

made: 

Monitors: A firm will have to decide on how many 

monitors/screens they will need. Most paperless systems 

involve using at least two monitors. Many efficiencies are 

created from being able to cross-reference information

from a document displayed on one monitor to another, and 

information can be quickly copied and pasted from one 

location to another. 

Many individuals find using three screens very efficient. 

One screen includes e-mails and time and billing 

information, the second screen displays a client’s tax return 

and the third screen includes the client’s engagement file. 

You are able to review files more efficiently with multiple 

screens as you can trace numbers directly to various 

documents in an electronic engagement file within seconds. 

Scanners: Scanners need to be readily accessible by staff 

in order to make a paperless environment efficient. In many 

cases, up to four people can share a scanner. In addition, 

it may be appropriate to provide staff with a digital camera 

for scanning a large volume of small documents that 

cannot be processed through a feeder. 

Network and Hard Disk Space: A firm should consult with a 

system administrator to ensure that its network and hard disk 

space are capable of handling the full volume of client data. 

How much time does it take to establish a paperless 

office? 

The time demands are different for every CA firm 

depending on the quality of training and attitude. Staff (if 

any) need to embrace implementing a paperless office or it 

will not be a smooth transition. Once the training process 

has taken place, the effectiveness of the office will likely 

increase far beyond the training demands of the average 

staff member. 

Typically, staff will become fluent in the functioning of a 

paperless office with a course, combined with a few weeks 

of hands-on experience. 

Becoming a paperless office is a gradual process and will 

not happen overnight. It will take roughly one year to totally 

convert into a fully functional paperless office. This 

includes time spent scanning prior years’ data, which is 

costly and time-consuming. This can be facilitated by 

hiring individuals on a temporary basis to scan data, but 

there are inherent risks in having someone unfamiliar with 

your environment doing this. Starting now will prepare you 

for what the future holds and allow you to slowly progress 

into a paperless office. 

For additional information on how to implement a paperless 

office you may consider taking the Institute’s Paperless 

Office professional development course. 

Guest contributor Ryan Kagan, CA, is a Senior Manager 

with Kagan and Kagan LLP in Toronto. Ryan works for the 

family practice, which he was able to convert into a 

paperless environment. Ryan also advises clients on how 

to convert to a paperless office. 

Practice 

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Web-based support is available to 

members at www.icao.on.ca 


33

Doctoral Studies Support 

Deadline: January 31, 2010 

The Institute’s Doctoral Studies Support Program, which 

encourages CAs to pursue doctoral studies in performance 

measurement and reporting, assurance, governance, 

strategy and risk management, finance, taxation or 

management decision-making and teach in an Ontario 

university, provides forgivable loans of up to $15,000 per 

year, for up to three years. 

This key element of the ICAO Support Program for 

University Accounting Education in Ontario is now in its 

31st year. 

To be considered, applicants must: 

• be accepted into a doctoral program and/or be in the 

course work stage of the doctoral program. Applicants 

who have not yet been accepted into a doctoral 

program may still apply for the Doctoral Studies 

Support Program; however, funds will only be released 

upon acceptance into a doctoral program; 

• concentrate their studies in performance measurement 

and reporting, assurance, governance, strategy and 

risk management, finance, taxation or management 

decision-making, and demonstrate that those studies 

will prepare them for a career in teaching or research 

in at least one of those areas; and 

• have a demonstrated ability and interest in teaching. 

For further information, contact Karen Salij at the Institute at 

416-969-4238 or 1-800-387-0735, ext. 238 or e-mail 

ksalij@icao.on.ca. 

TORONTO NORTH YORK MISSISSAUGA 

416.362.GREY (4739) www.mortongrey.com 


Mark Your Calendar 

November 12, 2009 

No Limits Conference – Ottawa 

8:30 a.m. – 2:30 p.m. 

Desmarais Building, University of Ottawa 

Contact: Jon French, ext. 278 

December 4, 2009 

Uniform Final Examination (UFE) Results 

December 11, 2009 

CARE Results 

January 5, 2010 

Core Knowledge Examination (CKE) 


2008 Annual Practitioner Fee Deadline 

(without late fee) 


CA$H Competition 

11 a.m. – 6 p.m. 

Institute Building, 69 Bloor St. East 

Contact: Jon French, ext. 278 


CKE Results 

February 16, 2010 – March 31, 2010 

Free CA Tax Clinics 

Contact: Paula Duncan, ext. 236 

February 27, 2010 

Convocation Ceremony 

Annual CA Dinner Dance 

Contact: Patricia Fleming, ext. 228 

Institute Tel: 416-962-1841 

Toll Free: 1-800-387-0735 

imagine if you could clone yourself... 

STRATEGIC SOURCING OF ACCOUNTING & FINANCE PROFESSIONALS

CA Authors 

Enough Bull 

David Trahair, CA 1985 

CA Authors 

CA Authors 

CA Authors 

CA Authors 

David Trahair wrote Enough Bull – 

How to retire well without the stock 

market, mutual funds, or even an 

investment advisor as an easy to 

understand and simple to apply 

plan for retirement. 

The book shows Canadians how to 

avoid all the traditional financial 

traps and demonstrates that doing 

the exact opposite of what they 

have been told will leave them 

much further ahead. 

Topics include how to invest in 100 per cent safe 

investments that will never decline, getting out of mutual 

funds and the stock market forever, when to receive your 

CPP pension, and why you should wait until you are over 

50 to start your RRSP, to name just a few. 

David Trahair is a Chartered Accountant who operates as a 

sole proprietor offering a broad range of accounting and 

tax services to businesses and individuals. He frequently 

appears in the media and is the author of the bestseller 

Smoke and Mirrors: Financial Myths That Will Ruin Your 

Retirement Dreams. He has been a director of Credit 

Canada, a non-profit organization dedicated to helping 

people deal with credit problems, for the last four years. 

Canadians Resident Abroad 2009 

Garry R. Duncan, FCA 1971 

It seems that many Canadians are 

moving far from home these days – 

emigrating for employment, 

retirement or adventure. There is a 

growing number of people looking 

to obtain non-resident status. 

Canadians Resident Abroad 2009 

was written to provide a single 

source of information regarding the 

tax consequences of leaving 

Canada. 

Garry Duncan notes that there are tax consequences with 

both emigrating and immigrating. Written in layman’s 

language, the handbook is designed to assist anyone 

leaving Canada. 

Garry R. Duncan was a senior tax partner with BDO 

Dunwoody LLP, where he specialized in tax and financial 

planning. He retired from BDO in 2005, but continues to 

consult on retirement, estate and expatriate planning. 

Duncan was Director and past-Chairman of the Financial 

Planners Standards Council and is a frequent speaker on 

estate and expatriate planning. 

A Bean Counter’s Travels 

D. G. Wilkes, CA 1959 

This is the fifth book written by D. G. 

(Donald Gordon) Wilkes. In A Bean 

Counter’s Travels, Wilkes recounts 

vivid tales from the many trips he 

took with his beloved wife Adele. It’s 

part travelogue, part advice book 

and part historical novel. 

Wilkes covers his travels in 

countries such as Grenada, France, 

Portugal, Japan, Hong Kong, 

Australia, New Zealand, Greece, 

Cuba and Costa Rica. He also talks 

about Florida, Toronto, Western Canada and even cruises. 

Thrown in are numerous helpful travel hints, planning tips 

and general wisdom gathered from many years of seeing 

the world. 

The author’s earlier books include both fiction and nonfiction. 

They are: Writing: What’s Good, Bad and Ugly; 

Coming Up Short; No More Illusions; and Shattered 

Expectations. 

CA Authors is a regular column that features new 

publications written by Ontario CAs. If you have written or 

co-authored a recently published book and are interested 

in having it profiled, please contact Cate Freeman at 

cfreeman@icao.on.ca 


35

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The Institute’s Firms’ Group Insurance Plan is underwritten by Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies, and administered by Canadian Benefit Administrators Ltd.

Institute Sponsors Boys and 

Girls Clubs of Ontario 

The Institute’s Director of Career Information, Mona Ghiami (right), presents 

a cheque for $30,000 to Boys and Girls Clubs of Ontario’s Regional Director 

Sandra Morris. 

For the 14th consecutive year, the Institute was the sponsor 

of the Boys and Girls Clubs of Ontario Scholarship Awards 

Ceremony. The Scholarship luncheon, which was held on 

September 27, honoured 62 young people from across the 

province. 

In addition to sponsoring the event, the Institute also 

awarded scholarships to 14 deserving young people. The 

scholarships are dedicated to helping young people 

achieve post-secondary education. 

Recipients are all long-time Club members as well as youth 

volunteers who show leadership in their communities. 

The Institute of Chartered Accountants of Ontario 

Scholarship recipients were: April Stevenson from 

Algonquin College; Aziza Barra, Ibrahim Ahmed and Mahdi 

Hussein from Ryerson University; Basel Esmail and Hassan 

Abdillahi from the University of Ottawa; Cayla Curtis from 

George Brown College; Francesca Albanese from the 

University of Toronto; Hetal Lad from York University; Jada 

Dorrington from Bishop’s University; Khalid Rashidi from 

Seneca College; Renee Wilkinson from Centennial College; 

Samantha Hua from the University of Ontario Institute of 

Technology; and Tremaine Garrison from Sheridan College. 

The Boys and Girls Clubs of Ontario Scholarship Program 

has grown significantly since its inception in 1992, and 

increasing numbers of young people in Ontario have 

benefited from its awards. The Boys and Girls Clubs are 

committed to helping youth achieve individual growth by 

developing their personal abilities and cultivating positive 

values. 

In Memoriam 

The Ontario Institute has received, with regret, 

notification of the deaths of the following members 

since the last issue of CheckMark: 

AJAMIAN, Victor Viken, Stouffville 

ARBUCK, Marvin Lawrence, Thornhill 

BAZOIAN, John Charles, Brantford 

BOUGHNER, Arthur Edward Clifford, Qualicum Beach, BC 

BROMFIELD, Ruel Oswald, Pickering 

BROWNING, James Allan, Toronto 

CRAIG, Donald Gordon, Waterloo 

DELL, John Hubert, Toronto 

FRENCH, Melvin Roy, Edmonton, AB 

GILES, James Ronald, Burlington 

HOAR, Robert, London 

JOHNSTON, Donald Graham, Ridgeville 

KWAPISZ JR., Stanley, Ottawa 

LARTER, Percy Grey, Newmarket 

MCKIBBEN, Arthur, Willowdale 

MCMASTER, Richard Ross, Toronto 

MCNICOLL, Gordon Arthur, Oakville 

MORTON, John Alfred, Bracebridge 

ROWNEY, Joseph Garnet, St. Thomas 

SAPUNJIS, Paul George, Toronto 

SMYTH, Allan Douglas, Etobicoke 

STARR, Nathan, North York 

WILSON, Ronald Ernest George, Oshawa 

WONG, Cynthia Lind, Toronto 

Connect to better health and well-being 

Your CA-ASSIST Member Assistance Program 

A confidential counselling service offering individual and family support 

for day-to-day issues and major life challenges. 

Are you or your immediate family members: 

• Concerned about a relationship issue? • Feeling stressed or anxious? 

• Experiencing grief or loss? • In need of practical parenting advice? 

• Faced with the challenge of creating a better balance between work 

and home? • Concerned about addictions (your own or another’s)? 

CA-ASSIST is here to help with these and other issues. 

Call your CA-ASSIST Member Assistance Program, 24 hours a day, 

seven days a week: 

1 800 387 4765 

Or visit online resources at: 

http://www.icao.on.ca/CA/MemberAssistance/CAassist/ 


37

Nora Murrant, FCA, FCBV 

Visits to the Districts 


Around 

the Districts 

Through tax clinics, career information activities, sponsorships and other communications 

programs and contacts, the Institute’s 23 District CA Associations play an important role in 

projecting our profession's local community profile. They are also the focus of local CA 

fellowship. Nora Murrant, FCA, FCBV, the Institute’s Executive Vice-President and COO, 

provides leadership for the District Associations system. 

Business, high school and university audience events, as 

well as member functions, have all been a traditional part 

of the Institute Chair’s visits to the Districts. 

Many important matters need to be shared and discussed 

with all members on a timely basis, including work taking 

place pursuant to the national strategic direction for the CA 

profession and ongoing changes to the Ontario legislative 

landscape. 

2008-2010 Chair Gerry Mills is now in the second year of 

his term and will strive to visit each of the Districts at least 

once during his tenure. Our new President and CEO, Rod 

Barr, and other senior Institute volunteers and staff are 

augmenting Gerry’s visits around the province to ensure 

that we maintain a current interaction with members, 

students and other CA profession stakeholders. 

At this time, the following visits have been booked: 

December 9 Hamilton (UFE celebration reception) 

December 17 Ottawa (UFE celebration luncheon) 

January 20 Thunder Bay (Northwestern Ontario DA) 

February 11 Niagara 

May 12 Scarborough 

Please watch for a notice from your local DA for more 

information, and come out to meet Gerry, Rod and the 

other Institute representatives when they visit your 

community. 

DA leadership 

The presidents of the Institute District Associations for 

2009-2010 are listed below. We congratulate them on their 

new leadership responsibilities and wish them a successful 

year! 

District 2009-10 President Firm/Employer 

Central Ontario Clyde R. Catton BDO Dunwoody LLP 

Cochrane Tracey-Lynn L. Potvin Ross Pope & Company 

Eastern Ontario Brent W.R. Wilson Collins Barrow SEO LLP 

Essex-Kent Carlos R. Redfern Deloitte & Touche LLP 

Etobicoke Deborah A. Schaufele Deborah A. Schaufele, CA 

Georgian Bay David A. Holmes Holmes Valuation Inc. 

Halton-Peel Gul Nawaz Nawaz Taub & Wasserman 

Chartered Accountants LLP 

Hamilton Giacomo J. Angelini Deloitte & Touche LLP 

Lambton Brent F. Steeves Hazlitt Steeves Harris LLP 

Niagara Stephanie L. Antonucci John Deere Credit Canada 

North Bay Marc L. Lacasse 931080 Ontario Ltd. 

North York Melanie E. Russell Kalex Valuations Inc. 

Northwestern Joe G. Riccio Grant Thornton LLP 

Ontario 

Ottawa Catherine M. Gaudet The Supreme Court of Canada 

Renfrew Kathleen A. Hoffman Dean-Sinclair Chartered 

Accountants 

Sault Ste. Marie Liliana Silvano Ontario Lottery & Gaming 

Corporation 

Scarborough Brij K. Sharma Ross & Sharma, Chartered 

Accountants 

Stormont-Dundas- B. Lee Mattice Welch LLP 

Glengarry 

Sudbury David A. Boyce RBC Dominion Securities 

Waterloo- Eric J. Thomson Eric Thomson, CA 

Wellington 

Western Ontario Ian J. Jeffreys KPMG LLP 

York Peter H.S. Baek Gardiner Roberts LLP

Golfing for Charity 

To extend the reach of the annual CA Golf Day for 

Children’s Charities across the province, a number of DAs 

hold local charity golf events to complement the Torontobased 

Institute event. Below are highlights of a few of the 

2009 events. 

Essex-Kent 

Seen at Essex-Kent DA’s golf tournament, from left: Brad Miehls, Ron 

Vandervecht and Patrick Ouelette (absent: Nick Diniro) from the winning 

team on the Red/White nines; Carlos Redfern, Essex-Kent DA President; 

and Barton Seguin, Tom Coyle, Mike Steiner and Aaron Marcotte from the 

winning team on the Gold/Red nines. 

The Essex-Kent CA Association raised $5,000 for the John 

McGivney Children’s Centre at its 8th Annual Charity Golf 

Tournament held on Thursday, May 28. A total of 63 golfers 

participated in the Texas scramble at Kingsville Golf and 

Country Club. 

Hamilton 

Seen, from left: Debra Gardiner, McMaster Children’s Hospital staff; Brad 

Perco, Golf Committee chair; Dr. Peter Fitzgerald, President of McMaster 

Children’s Hospital; Robert Tartaglia, Golf Committee member; Giacomo 

Angelini, Hamilton DA President; and gold-level sponsors Joe Monaco and 

John Loukidelis, Simpson Wigle. 

The Hamilton District CA Association’s 2009 Children’s 

Charity CA Golf Day was another great success. The 2009 

tournament was held on June 2 at Dundas Valley Golf & 

Country Club and raised an impressive $15,000 for the 

McMaster Children’s Hospital. 

The Hamilton DA is very proud to have raised $53,000 over 

the past six years for this deserving charity and would like 

to thank all of the sponsors and golfers who made this 

event possible. 

Thanks to Simpson Wigle LLP 

Special thanks go to the tournament’s gold sponsors, Joe 

Monaco and John Loukidelis, from Simpson Wigle LLP 

Barristers & Solicitors, for their continuing generous 

support! 

Join your local DA 

Membership in your local DA is completely voluntary. While 

your area of residence will ordinarily determine which local 

DA you would join, members are welcome at any DA event. 

CAs living in the central Toronto area are invited to become 

a member of any adjacent DA, particularly Etobicoke, 

North York, and Scarborough. 

To contact your local DA, check the District Association 

section under the CAs tab at www.icao.on.ca. 

55 University Avenue, Suite 1000, Toronto, ON M5J 2H7 

main 416.364.6400 fax 416.364.6900 www.froeseforensic.com 

Do you have an issue with a CA 

or firm or have you become the 

subject of an allegation involving 

your professional competence 

or conduct? Do you require 

someone to monitor your practice 

or to fulfill a quality assurance 

function? Our team of dedicated 

CAs and senior retired audit 

partners will respond immediately 

to deal with your requirements. 

For a confidential consultation, 

please call or email Bruce at 

416.682.7178 or barmstrong@ 

froeseforensic.com. 


Bruce Armstrong, 

FCA, CFE heads 

up the expert 

services practice 

related to CA 

performance. 

Previously, Bruce 

was on staff with 

the ICAO as the 

senior investigator. 

39

2009 New Life Members 

Each fall, the Council elects Life Members in accordance with the provisions of Bylaw 304. Heartiest congratulations are 

extended to the following 272 new Life Members. 

ABBOT, Robert Douglas, Huntsville 

ADAMSON, Peter Mitchell, Toronto 

AKLER, Sidney, Toronto 

ALDERSON, John, Chalfont St. Giles, Bucks, England 

ALLAN, James Sievewright, New Bern, NC, USA 

ALLEN, Frederic Charles, Calgary, AB 

ALTMAN, Frank, North York 

ALTON, Thomas Roderick, Oakville 

ANDERSON, Alan Raefield, Combermere 

ANDREWS, Allan George, Kenilworth 

ANJO, Richard Rodrigues, Don Mills 

ARMITAGE, Norman Edgar, Niagara Falls 

ARNOTT, Clifford Guy, Etobicoke 

ASH, Peter Sanson, Toronto 

BABA, George S., West Hill 

BALL, Gordon William, New Liskeard 

BASON, Roger Esmond, Ottawa 

BEATTIE, Bryan Douglas, Grand Bend 

BEAUDOIN, R. William, Ottawa 

BEDER, Robert Anthony, North York 

BEDFORD, Judd Homuth, Hamilton 

BEGER, Robert Wayne, New Hamburg 

BERNSTEIN, Harvey B., Toronto 

BISSON, Francis Joseph, Campbellville 

BOLDRON, Dennis, Scottsdale, AZ, USA 

BOYKO, Mervin, Kitchener 

BRACKEN, Peter William, Etobicoke 

BRIGHT, Mervin Thomas, Dallas, TX, USA 

BROAD, Robert Franklin, Kitchener 

BROMLEY, Ronald Kevin, Mississauga 

BROWN, David Andrew, Mississauga 

BROWN, Donald Alexander, Toronto 

BRUNTON, Stanley Lorne Richard, Boca Raton, FL, USA 

BUCKLAND, Peter James, Stirling 

BURAK, Nicholas, Mississauga 

BURNETT, David John, Edmonton, AB 

BUTLER, James Clifford, Ottawa 

CALDER, Kenneth Masson, Mississauga 

CALLEGARI, Alfred, Etobicoke 

CAMPBELL, Dennis Bain, Ottawa 

CANNOM, Brian Allen, Delaware 

CAPLIN, Stanley Harvey, North York 


CARRIER, Lorne Andre, Montreal, QC 

CARRUTHERS, David Ewart, Irvine, CA, USA 

CARTER, Walter Brian, Toronto 

CATER, Gordon John, Etobicoke 

CHALMERS, David Robinson, London 

CHAREST, Luc Pierre, Kirkland, QC 

CHARTER, Philip Wesley, Conestogo 

CHELSKY, Melvin Israel, Toronto 

CHEPA, Steven William, Toronto 

CHISHOLM, Ian Calder, Victoria, BC 

CLAMEN, Stanley, Montreal, QC 

CLARK, Evan Bruce, Guelph 

CLARKE, Gerald Manford, Scarborough 

CLUSKEY, Wayne James, Carp 

COBURN, Neil Howard, Waterloo 

COLE, Richard Julian, Toronto 

COLMAN, Lionel Travis, Toronto 

COOK, Ralph Franklin, Milton 

COOKE, Basil Vosper, Oakville 

COWAN, Bryce James, Barrie 

COZENS, Ernest James, Markham 

CRAWLEY, Donald Robert, Toronto 

DACIUK, John Harold, Grimsby 

DALBY, Barry Gordon, Victoria, BC 

DAVIES, John Charles, Montreal, QC 

DELL, Colin Stuart, Amherstburg 

DEMONE, Robert Stephen, Toronto 

DENOMY, Ronald Louis, Chatham 

DENT, Melvin Barry, Toronto 

DESLANDES, Joseph Gerard Maurice, Longueuil, QC 

DEVOR, Louis Joel, Toronto 

DIPPELL, John Oliver, Waterloo 

DOCKING, Melvin Ronald, Ottawa 

DORE, Raymond, Toronto 

DOUGLASS, Duncan Ian, Sewickley, PA, USA 

DOVE, Hugh Roy, North York 

DREVNIG, Victor, Willowdale 

EICHORN, Frank Joseph, St. Clements 

EKNOVITZ, Jay Harvey, Thornhill 

ELKIN, Barry, Vancouver, BC 

ELLIOTT, Norman James, Toronto 

EPSTEIN, William, Westmount, QC 

EVANS, Richard Edward Mansell, Waterloo 

EVANS, Robert David, Alliston 

EVELEIGH, Barry Alexander, Lion's Head 

EZRIN, Martin, Toronto 

FARRES, Alan Ernest, Coquitlam, BC 

FAVALARO, Michael Angelo, Burlington 

FELDMAN, Harry, Montreal, QC 

FENN, Robert Joseph, Don Mills 

FENWICK, Roy Irvin, Agincourt 

FINLAY, John Henry George, Unionville 

FLEMING, Alan Harvey, Mississauga 

FLEURY, Joseph Albert Bernard, Gatineau, QC 

FLOWER, Michael Roy, Toronto 

FRASER, Douglas Duncan, Haliburton 

FRIEDMAN, Frederick Harvey, Thornhill 

FURSE, J. Robert, Etobicoke 

GARDNER, Robert Arthur George, Downsview 

GERRY, William Edward, Strathroy 

GIBSON, Malcolm Hardesty, Kingston 

GODDARD, Cedric Lawrence, Collingwood 

GORBET, David Harold, Toronto 

GRAHAM, Robert Michael, Leamington 

GRANOFSKY, Michael Jerry, Hampstead, QC 

GRAY, John Homer, Providenciales, Turks & Caicos 

GREEN, David Glendenning, Guelph 

GREEN, Robert Milton, Toronto 

HABERMANN, Peter, North York 

HACK, Lloyd Edwin, Burlington 

HALES, James Milton, London 

HALL, Robert Sidney, Ottawa 

HAM, Wilfred James, Ottawa 

HANNAFORD, Stanley William, Burlington 

HARROWER, Walter Tait, Lafayette, CA, USA 

HARSORA, Nandlal Tribhovan, Willowdale 

HASCHYC, Michael Samuel, Etobicoke 

HAWKEY, David Owen, Mississauga 

HENNING, William James, Toronto 

HERAUF, Herbert Michael, Dundas 

HEWSON, Leslie William Edward, Barry's Bay 

HILL, LeRoy Raymond, Agincourt 

HILTON, Robert Francis, Whitby 

HILTON, Thomas Edward, Niagara Falls

HINES, John Anthony, Victoria, BC 

HLYWA, Steven Joseph, Burlington 

HOFFMANN, Alan Irwin Segal, Toronto 

HOLMES, Derek John, Grimsby 

HOUSER, Bruce Elmore, Newmarket 

HOWARTH, William Paul, Cambridge 

HOWIE, Robert Gordon, Amherstburg 

HRELJAC, Edward Elmer, Sudbury 

HUGHES, John Michael, Burlington 

HURSCHLER, Joseph Pierre, Mississauga 

HUSAIN, Syed Ali, Dollard-des-Ormeaux, QC 

HYDE, Peter Bernard Miller, Rockcliffe 

HYMERS, Lawrence Anthony Augustine, Waterloo 

JACKSON, Charles William Michael, Toronto 

JOHNSTONE, John Frederick, Ottawa 

JONES, Grant Warren, Mississauga 

JORDAN, William Joseph, Ottawa 

JOSHUA, Ronald, Don Mills 

KAHN, Stephen Charles, Calgary, AB 

KAPLAN, Lawrence Ralph, Toronto 

KAPLAN, Michael Sidney, Willowdale 

KAUFMAN, Barry Joseph, Sudbury 

KELLY, Brian Patrick, Peterborough 

KIBLER, Harry Elroy, Port Elgin 

KING, James Lawrence, Bracebridge 

KING, Richard Henry Donald, Scottsdale, AZ, USA 

KLEIN, David Charles, Brantford 

KLEIN, Harvey Rueben, North York 

KNIGHT, David Lawrence, Mansfield 

KREISMAN, Abraham Isaac, Montreal, QC 

KUNG, Henry Lam, Willowdale 

KUSATZ, Sigurd F.R., Stouffville 

LAFRENIERE, Gerald Camil Joseph, Sudbury 

LAMB, Allan Alfred, Stittsville 

LANTHIER, Ronald Ross, Aurora 

LEMON, Robert Butchart, London 

LOK, Hon Yip, Mississauga 

LONG, Oliver George, Don Mills 

LUBASZKA, Henry Walter, Toronto 

LUKE, Peter Sidney Cameron, Stittsville 

MACKENZIE, James William, Mount Hope 

MACNAUGHTON, Donald Bruce, Oakville 

MADILL, John Edward, Sault Ste. Marie 

MADON, Shavak Russy, Oakville 

MAGUIRE, Kenneth James, Newmarket 

MATHESON, Wayne Colin, Oakville 

MATSUKUBO, Leonard Toru, Kanata 

MCCLURKIN, David Thomas, Waterloo 

MCCULLOCH, John Douglas, Bracebridge 

MCDERMOTT, John Thomas, Orillia 

MCLEOD, Wayne Malcolm Ernest, Don Mills 

MCNALLY, Walter Valentine, Toronto 

MENDELSON, Marvin, Willowdale 

MEYERS, David Lawrence, Campbellford 

MILES, Richard Denham, Halifax, NS 

MILLARD, David John, Mississauga 

MILLER, Ian Scott, North York 

MOORE, William James, Ottawa 

MORRIS, John Stuart Duncan, London 

MORRISON, Bryce Wilbur, Nepean 

MOSES, Charles Russell, Toronto 

NADLER, Peter Joel, Toronto 

NAYER, Paul, Ville St-Laurent, QC 

NELSON, Morton, Victoria, BC 

NICHOLS, David Arthur, Port Hope 

NORMAN, Edward Roy, Waterloo 

ONYONS, Ronald, Kingston 

PAGE, Keith Alan, Willowdale 

PANG, Pao-Ming, Whitby 

PARSONS, George Rodger, Whitby 

PAYNE, Allan Foster, Raymond, AB 

PINCOTT, John Herbert, Cobourg 

POIRIER, Georges Armand, Prescott 

PROWSE, Edward Charles Anthony, Nepean 

RADBURN, William Francis, Gatineau, QC 

RANKIN, Beverley Bruce, Port Elgin 

REDDY, James George, Toronto 

REED, Laurence Edward, Peterborough 

RENNIE, Alexander, Ottawa 

ROBERTSON, David Stewart, Ottawa 

ROLLASON, William Peter, Canmore, AB 

ROSENFIELD, Marvin, Toronto 

ROSENTHAL, Jack Bernard, Montreal, QC 

ROSETTI, John Norman, St. Catharines 

ROUSE, Robert David, Co. Dublin, Ireland 

ROWE, Edward Thomas, London 

RUBY, Brian Joseph, Kitchener 

RUTHERFORD, Stuart James, Brockville 

RYE, Ernest Alfred, Emsdale 

SADOWY, William Daniel, Etobicoke 

SALMON, Edward Roy, Dartmouth, NS 

SALVATI, Lelio Domenico, Ottawa 

SCHAFFRAN, Samuel Maurice, Willowdale 

SCOLNICK, Morton David, Los Angeles, CA, USA 

SCOTT, Murray Hunter, Clarksburg 

SEARLE, Peter Fleming, Scarborough 

SECKER, Charles Herbert Martin, Kingston 

SHAPIRO, Ephraim Harold, Toronto 

SHAW, Ian Alexander, Toronto 

SHROFF, Naju Boman, Toronto 

SHULMAN, Lawrence Morley, Downsview 

SIMS, William Alexander, Morriston 

SMITH, Joseph George, Kelowna, BC 

SMITH, Kenneth John, Oshawa 

SMITH, William Arthur, Whitby 

SPRING, Harold Clarkson, Oro Station 

SQUIRE, Larry James, Port Hope 

STEIN, Melvyn Arnold, Toronto 

STEPHENS, Barry Lloyd, Huntsville 

STEPHENS, George Douglas, Brampton 

STERNBERG, Morris, Toronto 

STILLE, Frederick John, Thunder Bay 

STONE, Harold, Thornhill 

SUGAR, Stanley Cyril, Don Mills 

SWART, Douglas Dwight, St. Catharines 

SYDOR, Daniel J., Burlington 

SYKES, Ralph Leonard, Elora 

TAMITEGAMA, Herath Banda, Colombo, Sri Lanka 

TARR, David Alan, Montreal, QC 

TAYLOR, Thomas Robert, Toronto 

TENNENT, William Arthur, Mississauga 

THOMPSON, Terence Toler, Clarksburg 

VARCOE, Terrence Brenton, Victoria, BC 

VASIL, Alexander, Montreal, QC 

VESSEL, Bernard Frank, Fonthill 

WALKER, Neil Mossman, Toronto 

WANDS, Frederick Alexander, Burlington 

WEBER, James Anthony, Burlington 

WEISFELD, Ronald Irwin, Thornhill 

WILBEE, James John Robert, Toronto 

WILLIAMS, Carl Philip, Magog, QC 

WILSON, Adrian Martin Needham, Toronto 

WILSON, Hubert William, Scarborough 

WILSON, John Douglas, Prescott 

WILSON, Paul Alexander, Port Hope 

WISE, Richard Martin, Westmount, QC 

WOLFMAN, Bertrand, Toronto 

WOOD, William David, Minden 

WOODWARD, Christopher John, Mississauga 

WRIGHT, Robert E. Crawford, Peterborough 

XUEREB, George Lawrence, Etobicoke 

ZAFRAN, Morty, Montreal, QC 


41

Disciplinary Notices 

The Discipline Committee has the responsibility of 

determining whether a member, firm or student charged 

with professional misconduct is guilty or not guilty of the 

charge(s). If the determination is guilty, the Discipline 

Committee makes an order with respect to sanction. The 

Discipline Committee may also approve Settlement 

Agreements proposed by the Professional Conduct 

Committee and a member. 

The Discipline Committee applies the principles of 

rehabilitation, specific deterrence and general deterrence 

to determine sanctions appropriate to the particular 

circumstances of each individual case and in the public 

interest. 

The Discipline Committee has wide powers to help facilitate 

rehabilitation, including the power to order supervised 

practice and reinvestigation. Generally, members whom the 

Discipline Committee concludes are incapable of being 

rehabilitated or are otherwise ungovernable are expelled. 

There are also cases where expulsion is thought essential 

as a general deterrent to other members. 

The written reasons of the Discipline or Appeal Committee in 

a specific case may be accessed by visiting the Institute's 

website at www.icao.on.ca or obtained from Diane Williamson 

at the Institute by e-mail at dwilliamson@icao.on.ca or 

telephone at 416-969-4282 or 1-800-387-0735, ext. 282. 

Discipline Hearings 

Dianne Elizabeth Chandler, Havelock, was found guilty of 

one charge under Rule 104 of failing to promptly reply in 

writing to any letter from the Institute in which a written 

reply is specifically required, and one charge under Rule 

203.2 of failing to co-operate with officers, servants or 

agents of the Institute who have been appointed to arrange 

or conduct a practice inspection or review or an 

investigation on behalf of the Professional Conduct 

Committee. Mrs. Chandler failed to submit requested 

documents to the Director of Practice Inspection and failed 

to respond to correspondence from the Associate Director 

of Standards Enforcement. Mrs. Chandler was fined $1,000 

and ordered to co-operate with Practice Inspection by 

providing the requested documentation. 

Ronald Edward Day, Thunder Bay, was found guilty of two 

charges under Rule 201 of failing to conduct himself in a 

manner that will maintain the good reputation of the 

profession and its ability to serve the public interest. While 

a partner in a firm, Mr. Day, in the name of his consulting 

company, prepared cash flow projections on behalf of a 

client using firm resources and collected fees outside of 

the partnership without informing his partners. Mr. Day 


failed to disclose the fees on his personal income tax 

return and failed to collect GST on the fees, thereby 

evading payment of tax properly payable. Without his 

partners’ knowledge, Mr. Day failed to bill a client for 

professional services rendered, but instead used a contra 

agreement to pay monies he personally owed the client. 

He failed to disclose this benefit received from the client on 

his personal income tax return and failed to collect or remit 

GST, thereby evading payment of tax properly payable. Mr. 

Day was fined $5,000, charged costs of $7,500, and 

suspended from membership for six months. 

James Edward Horn, Toronto, was found guilty of one 

charge under Rule 202 of failing to perform his professional 

services with due care. Mr. Horn, while engaged to 

conduct a compliance audit of the campaign finances of a 

candidate in accordance with the Municipal Elections Act, 

1996, failed to: conduct appropriate audit procedures to 

enable him to determine the existence of apparent 

contraventions of the Act; perform an adequate or 

appropriate audit of campaign contributions; perform an 

adequate or appropriate audit of expenses related to 

campaign banners; identify related apparent 

contraventions of the Act in his compliance audit report; 

and appropriately disclose a scope limitation related to the 

audit of advertising expenses in his compliance audit 

report. Mr. Horn was fined $2,500 and charged costs of 

$5,000. 

Gavin Gershon Lange, Richmond Hill, was found guilty of 

two charges under Rule 101 of failing to comply with the 

bylaws, regulations and rules of professional conduct of 

the Institute, one charge under Rule 201.1 of failing to 

maintain the good reputation of the profession and its 

ability to serve the public interest, one charge under Rule 

204.1 of failing to remain free of any influence, interest or 

relationship which would impair professional judgment or 

objectivity or which, in the view of a reasonable observer, 

would impair professional judgment or objectivity and three 

charges under Rule 206.1 of failing to perform professional 

services in accordance with generally accepted standards 

of practice of the profession. Mr. Lange, while engaged in 

public accounting, failed to: apply for or obtain a public 

accounting licence; register his practice; pay the annual 

practitioner fee; and register or obtain a certificate of 

authorization for his professional corporation. Without such 

registrations and notifications, Mr. Lange’s practice was not 

subject to practice inspection. Further, Mr. Lange signed 

and issued a review engagement report attached to the 

financial statements for a company of which his brother 

was a director and 50 per cent shareholder. The financial 

statements contained errors and Mr. Lange failed to 

document steps taken to satisfy himself of the plausibility 

or accuracy of various assertions in the statements. Mr. 

Lange also performed review engagements for two clients

and those financial statements failed to meet the standards 

and requirements of the CICA Handbook. Mr. Lange was 

fined $7,500, charged costs of $10,000, and ordered to 

complete three professional development courses, 

complete a period of supervised practice, and be 

reinvestigated by the Professional Conduct Committee. 

Thomas P.K. Lo, Markham, was found guilty one charge 

under Rule 203.2(a) of failing to co-operate with officers, 

servants or agents of the Institute who have been 

appointed to arrange or conduct a practice inspection. Mr. 

Lo, after having been randomly selected for practice 

inspection, failed to complete and return forms despite 

providing undertakings to comply and being granted 

numerous extensions. Mr. Lo was fined $3,000, charged 

costs of $2,000, and ordered to co-operate by completing 

and returning the relevant practice inspection forms to the 

Director of Practice Inspection. 

Robert Anthony Michaud, Orleans, was found guilty of one 

charge under Rule 203.2(a) of failing to co-operate with 

officers, servants or agents of the Institute who have been 

appointed to arrange or conduct a practice inspection and 

one charge under Rule 104 of failing to promptly reply in 

writing to a letter from the Institute in which a written reply 

is specifically required. Mr. Michaud failed to respond to 

requests from the Director of Practice Inspection to 

complete and return forms required for the practice 

inspection process. The matter was referred to Standards 

Enforcement and the Associate Director of Standards 

Enforcement made numerous requests of Mr. Michaud to 

which he failed to respond. Mr. Michaud was fined $3,000, 

charged costs of $2,500, and ordered to co-operate by 

completing and returning the relevant practice inspection 

forms to the Director of Practice Inspection. 

David Sergio Stone, Toronto, was found guilty of four 

charges under Rule 205 of associating himself with reports, 

statements and representations which he knew or should 

have known were false or misleading. Mr. Stone prepared 

and filed personal income tax returns for himself and his 

spouse, noting that they did not own or hold foreign 

property at any time in the year with a total cost of more 

than C$100,000 when, in fact, they owned such property. 

Mr. Stone was fined $15,000, charged costs of $10,000, 

and suspended from membership for a period of two 

years, with newspaper publication. 

Albert John Vangelisti, Brechin, was found guilty of one 

charge under Rule 204.1 of failing to remain free of any 

influence, interest or relationship which would impair his 

professional judgment or objectivity or which, in the view of 

a reasonable observer, would impair his professional 

judgment or objectivity and one charge under Rule 206.1 

of failing to perform professional services in accordance 

with generally accepted standards of practice of the 

profession. Mr. Vangelisti, while engaged over seven years 

to conduct yearly reviews of the financial statements of a 

company, was retained as property manager of the 

company either directly or through a company owned by 

him. While engaged to perform a review of the financial 

statements of the company, on one occasion Mr. Vangelisti 

failed to: ensure adequate disclosure of related party 

transactions; obtain a management representation letter; 

document the terms of his engagement in writing; and 

document matters important to support his review 

engagement report. Mr. Vangelisti was fined $3,000, 

charged costs of $5,000, ordered to complete three 

professional development courses, and ordered to submit 

to a period of supervised practice. 

Noel Clive Woodsford, Mississauga, was found guilty of 

one charge under Rule 206 of failing to perform his 

professional services in accordance with generally 

accepted standards of practice and one charge under Rule 

218 of failing to retain for a reasonable period of time such 

working papers, records or other documentation which 

reasonably evidence the nature and extent of work done in 

respect of the engagement. Mr. Woodsford, while engaged 

to perform an audit of the financial statements of a client, 

failed to: obtain sufficient appropriate audit evidence by 

relying on estimates used to determine inventory quantities; 

conduct sufficient appropriate audit procedures to support 

inventory cut-off; ensure that a portion of the inventory 

adjustment, after determining that the inventory was 

understated, was recorded in prior records; and ensure that 

audit assistants were properly supervised and that the audit 

work was adequately planned and executed. Mr. Woodsford 

was fined $75,000 and charged costs of $160,000, with 

newspaper publication. 


43


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