James Doer Elected President - The Institute of Chartered ...
James Doer Elected President - The Institute of Chartered ...
James Doer Elected President - The Institute of Chartered ...
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125<br />
1886-2011: 125 Years - Countless decisions<br />
<strong>James</strong> <strong>Doer</strong> <strong>Elected</strong> <strong>President</strong> Uniting the<br />
<strong>James</strong> <strong>Doer</strong> was elected <strong>President</strong> and Chair<br />
<strong>of</strong> the Council <strong>of</strong> the <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong><br />
Accountants <strong>of</strong> Manitoba for 2011-12 at<br />
the Council meeting held immediately after<br />
the <strong>Institute</strong>’s Annual General Meeting on June<br />
16th .<br />
“It is a privilege for me<br />
to serve as your <strong>President</strong><br />
during this milestone year<br />
and at such an important<br />
time for the pr<strong>of</strong>ession.<br />
In addition to celebrating<br />
the pr<strong>of</strong>ession’s 125 years<br />
<strong>of</strong> service to Manitoba,<br />
there is the current<br />
exploration <strong>of</strong> a possible<br />
merger with the CMAs<br />
and the potential creation<br />
<strong>of</strong> a new accounting<br />
designation,” <strong>Doer</strong> said.<br />
<strong>The</strong> member consultation<br />
process about uniting<br />
the Canadian accounting<br />
pr<strong>of</strong>ession is underway<br />
and will continue until September 2011. Following<br />
this period <strong>of</strong> discussion - if there seems<br />
to be consensus to proceed - a concrete proposal<br />
will be put forward for further consideration.<br />
“This is an exciting time for the accounting<br />
pr<strong>of</strong>ession and I encourage you to participate<br />
online at CPACanada.ca,” <strong>Doer</strong> said.<br />
Another priority for Council over the year is<br />
to attract exceptional people to the pr<strong>of</strong>ession<br />
and the <strong>Institute</strong> continues to encourage more<br />
employers outside <strong>of</strong> the traditional audit and<br />
assurance area to obtain approval to train CA<br />
students.<br />
“In Manitoba, eight employers have now<br />
been approved as EEO CA Training Offices.<br />
<strong>The</strong> first group <strong>of</strong> EEO trained graduates successfully<br />
completed the UFE in 2010 and are<br />
now CAs,” <strong>Doer</strong> said.<br />
Have<br />
your say!<br />
<strong>James</strong> <strong>Doer</strong>, CA, the newly elected<br />
<strong>President</strong> & Chair <strong>of</strong> the <strong>Institute</strong> <strong>of</strong><br />
<strong>Chartered</strong> Accountants <strong>of</strong> Manitoba.<br />
<strong>James</strong> began his accounting career in 1981.<br />
He completed his period <strong>of</strong> experience with<br />
Tadman Hornstein Kalef and received his CA<br />
designation in 1984. <strong>James</strong> earned his Certified<br />
Financial Planner designation in 2000.<br />
He is currently a partner<br />
in the Winnipeg <strong>of</strong>fice <strong>of</strong><br />
BDO Canada LLP and<br />
has over 25 years <strong>of</strong> audit<br />
experience. He works with<br />
both public and private sector<br />
clients and his practice<br />
focuses on private enterprises<br />
and owner-managed<br />
businesses, such as manufacturing,<br />
construction and<br />
Aboriginal organizations.<br />
<strong>James</strong> was first elected<br />
to Council in 2005. He<br />
served as Secretary-Treasurer<br />
from 2008 to 2009. In<br />
2009-10 he was appointed<br />
Second Vice-<strong>President</strong> and<br />
he served as First Vice-<br />
<strong>President</strong> this past year.<br />
He has also served on the <strong>Institute</strong>’s Corporate<br />
Governance and Nominating and<br />
Membership Linkages committees, as well as<br />
the <strong>Institute</strong>’s Advisory committee on Public<br />
Accounting. <strong>James</strong> was Chair <strong>of</strong> the Audit<br />
Committee in 2006-07.<br />
<strong>James</strong> enjoys golfing and curling and heading<br />
out to the cottage in the summer and is looking<br />
forward to attending Winnipeg Jets games this<br />
winter.<br />
“It is an honour to serve as your president<br />
and I look forward to working with Council<br />
and the <strong>Institute</strong> staff in the coming year,” <strong>Doer</strong><br />
said. “I will endeavor to represent all <strong>of</strong> you to<br />
the best <strong>of</strong> my abilities and I hope you will contact<br />
me at any time if you have any questions,<br />
comments, or advice.”<br />
Take part in the discussion about uniting the<br />
Canadian accounting pr<strong>of</strong>ession at CPACanada.ca.<br />
See page 5 for login instructions.<br />
Canadian<br />
Accounting<br />
Pr<strong>of</strong>ession<br />
Evolution toward a<br />
common qualification<br />
program<br />
Issue #171<br />
June / July 2011<br />
Canada’s CA and CMA organizations<br />
are internationally recognized for their<br />
rigorous qualification programs, each <strong>of</strong><br />
which prepares its members to practice<br />
at the highest levels <strong>of</strong> the pr<strong>of</strong>ession.<br />
That is why a critical element <strong>of</strong> bringing<br />
the organizations together would be the<br />
creation <strong>of</strong> a new high-quality certification<br />
program that draws and builds<br />
upon the respective strengths <strong>of</strong> the<br />
existing programs.<br />
<strong>The</strong> quality <strong>of</strong> any pr<strong>of</strong>essional certification<br />
program is ultimately reflected in<br />
the outcomes <strong>of</strong> its graduates. <strong>The</strong> CA<br />
and CMA programs consistently produce<br />
high-calibre pr<strong>of</strong>essionals, many <strong>of</strong><br />
whom have risen to senior management<br />
roles in pr<strong>of</strong>essional accounting firms,<br />
industry and government across Canada<br />
and around the world.<br />
To maintain their distinguished reputations<br />
and prepare their new graduates,<br />
both programs continuously evolve to<br />
meet the changing needs <strong>of</strong> the marketplace.<br />
While the CMA program places<br />
more emphasis on management accounting<br />
and the CA program on financial<br />
accounting and assurance, they share<br />
a number <strong>of</strong> important features – in<br />
education, in evaluation, and in experience.<br />
Both programs require a university<br />
degree as a minimum entry requirement,<br />
practical work experience and the<br />
completion <strong>of</strong> a national examination.<br />
In terms <strong>of</strong> education, today there is a<br />
significant amount <strong>of</strong> shared underlying<br />
continued on page 2<br />
FOLIO 1
FOLIO 2<br />
Qualification<br />
program cont’d<br />
continued from page 1<br />
technical knowledge between the programs,<br />
which is demonstrated by the significant overlap<br />
in the competency maps <strong>of</strong> the two organizations.<br />
Each program augments that underlying<br />
technical knowledge with additional in-depth<br />
knowledge in its particular area <strong>of</strong> expertise –<br />
whether related to management accounting or<br />
financial accounting and assurance.<br />
To evaluate their respective candidates, both<br />
programs administer assessments and examinations<br />
throughout their pr<strong>of</strong>essional programs.<br />
While these assessments are different and occur<br />
at different points in the education process,<br />
both require individual demonstration <strong>of</strong> a<br />
defined set <strong>of</strong> competencies at some point.<br />
CMAs have an entrance exam, assessments<br />
throughout their pr<strong>of</strong>essional program and a<br />
case-based uniform evaluation at the end <strong>of</strong><br />
both years <strong>of</strong> their program. CAs have assessments<br />
throughout their pr<strong>of</strong>essional program,<br />
culminating with a case-based uniform evaluation<br />
(“the UFE”).<br />
With regard to practical experience, both<br />
pr<strong>of</strong>essions require significant relevant and<br />
progressive training. To meet the needs <strong>of</strong><br />
a changing marketplace, an expansion <strong>of</strong><br />
experience opportunities is underway in both<br />
pr<strong>of</strong>essions. CAs are now able to train in industry,<br />
government and non-assurance roles in<br />
public practice. CMAs now have the legislated<br />
right to audit in nearly every province across<br />
Canada and are in the final stages <strong>of</strong> obtaining<br />
full rights across the country. CMA Canada has<br />
adopted a national standard for public accounting<br />
which every CMA must complete before<br />
practising in that area.<br />
Ultimately, both qualification processes are<br />
challenging and rigorous. <strong>The</strong>y build on competency<br />
maps that have much in common, are<br />
executed using sound education best practices,<br />
and are supplemented with demanding experience<br />
criteria.<br />
Should the organizations proceed with a merger,<br />
the creation <strong>of</strong> a new common qualification<br />
program would represent the next stage <strong>of</strong><br />
evolution for our pr<strong>of</strong>ession. To support the<br />
establishment <strong>of</strong> a new, pre-eminent designation<br />
for pr<strong>of</strong>essional accountants working across<br />
all sectors <strong>of</strong> the economy, the new program<br />
would be designed to equip the next generation<br />
<strong>of</strong> Canadian accountants with broader scopes <strong>of</strong><br />
expertise and experience, and to enable Mutual<br />
Recognition Agreements with other important<br />
accounting bodies around the globe.<br />
Developments in Quebec<br />
Merger implications<br />
In Quebec, oversight <strong>of</strong> all pr<strong>of</strong>essional<br />
bodies is the responsibility <strong>of</strong> the Office<br />
des pr<strong>of</strong>essions, which determines changes<br />
to the regulations <strong>of</strong> some 46 pr<strong>of</strong>essional<br />
bodies in that province.<br />
At the time <strong>of</strong> our national announcement<br />
to members, Quebec members were<br />
made aware that the Office des pr<strong>of</strong>essions<br />
had invited the Quebec CA, CMA and<br />
CGA bodies to discuss the future <strong>of</strong> the<br />
accounting pr<strong>of</strong>ession in that province.<br />
Recently, members <strong>of</strong> the three accounting<br />
bodies in Quebec were informed that<br />
progress has been made in those discussions<br />
under the leadership <strong>of</strong> their organizations<br />
and with input from the Office des pr<strong>of</strong>essions.<br />
As a result, a concrete plan is now<br />
being developed to unify the pr<strong>of</strong>ession in<br />
Quebec through a merger <strong>of</strong> the provincial<br />
Talking about the future<br />
CA, CMA and CGA bodies. <strong>The</strong><br />
boards <strong>of</strong> directors <strong>of</strong> those three<br />
bodies have decided to present the plan to<br />
their respective members in Quebec and<br />
seek member input through a provincewide<br />
consultation tour from August 15 to<br />
September 16. <strong>The</strong> Quebec organizations<br />
will take into consideration the feedback<br />
from their members when making a formal<br />
submission to the government this fall to<br />
assist the Office des pr<strong>of</strong>essions in determining<br />
the future direction <strong>of</strong> the pr<strong>of</strong>ession in<br />
Quebec.<br />
<strong>The</strong> developments in Quebec underscore<br />
the need for your national and provincial<br />
bodies to proactively consider what should<br />
be the future <strong>of</strong> our pr<strong>of</strong>ession. Without<br />
question, the Quebec consultations will<br />
impact the ongoing discussions between the<br />
CA and CMA organizations in the rest <strong>of</strong><br />
Canada.<br />
A national dialogue is underway that could unite<br />
Canada’s <strong>Chartered</strong> Accountants and Certified<br />
Management Accountants. Combining our<br />
respective strengths under a new designation,<br />
<strong>Chartered</strong> Pr<strong>of</strong>essional Accountants, may be the<br />
most powerful way for our pr<strong>of</strong>ession to respond<br />
to the changing needs <strong>of</strong> business.<br />
Where do you stand on the challenges facing<br />
the pr<strong>of</strong>ession?<br />
Learn more and engage in this historic conversation.<br />
Share your views at www.CPACanada.ca
Council and Officers <strong>Elected</strong> for 2011-12<br />
At the 125 th Annual General Meeting <strong>of</strong><br />
the <strong>Institute</strong> held on June 16, 2011, nine<br />
members were elected by acclamation to<br />
fill 11 <strong>of</strong> the vacancies on Council for a<br />
two year term.<br />
<strong>The</strong> nine members elected by acclamation<br />
were Cheryl Atchison, <strong>James</strong> <strong>Doer</strong>,<br />
Dave Loewen, Rick MacKay, Brenna Minish-Kichuk,<br />
Janet Morrill, Kevin Regan,<br />
Heather Reichert and Scott Sissons.<br />
According to the <strong>Institute</strong>’s bylaws,<br />
Council has the authority to fill the two<br />
remaining vacancies by appointing two individuals.<br />
<strong>The</strong> term <strong>of</strong> <strong>of</strong>fice for the appointed<br />
individuals is for one year instead <strong>of</strong> two and<br />
expires at the next Annual General Meeting. At<br />
the Statutory Meeting <strong>of</strong> Council held immediately<br />
after the AGM, Council appointed Dean<br />
Austin and Larry Frostiak to fill the remaining<br />
vacancies.<br />
Also at the Statutory Meeting <strong>of</strong> Council<br />
following the AGM, Council elected the<br />
2011-12 Officers and members <strong>of</strong> the Executive<br />
Committee. Council is composed <strong>of</strong> the<br />
<strong>of</strong>ficers, members-at-large and two public<br />
representatives.<br />
<strong>James</strong> <strong>Doer</strong>, CA<br />
<strong>President</strong> & Chair<br />
2011-12 Officers <strong>of</strong> Council<br />
<strong>James</strong> D. <strong>Doer</strong>, CA<br />
<strong>President</strong> & Chair<br />
Rick M. MacKay, FCA<br />
First Vice-<strong>President</strong><br />
Teresa L. Okerlund, CA<br />
Second Vice-<strong>President</strong><br />
David Loewen, FCA<br />
Secretary-Treasurer<br />
Rick MacKay, FCA<br />
First Vice-<strong>President</strong><br />
Teresa Okerlund, CA<br />
Second Vice-<strong>President</strong><br />
Members-at-Large<br />
Cheryl A. Atchison, CA<br />
K. Dean Austin, CA<br />
Jeffrey G. Cristall, CA•CBV<br />
Gordon A. Dowhan, CA<br />
Larry H. Frostiak, FCA<br />
C. Stuart McKelvie, FCA<br />
Brenna J. Minish-Kichuk, CA<br />
Janet B.A. Morrill, CA<br />
Kevin E. Regan, CA<br />
Heather D. Reichert, CA<br />
Scott D. Sissons, CA<br />
Decisions matter. <strong>The</strong>y mattered in 1886. <strong>The</strong>y matter today.<br />
David Loewen, FCA<br />
Secretary-Treasurer<br />
Public Representatives<br />
Elaine Goldie<br />
Anita Wortzman, LLB<br />
Under the <strong>Institute</strong> bylaws, one member must work and reside outside <strong>of</strong> Winnipeg. Both Jeffrey Cristall and Brenna Minish-Kichuk meet this requirement.<br />
<strong>The</strong> two public representatives are appointed to Council by the <strong>President</strong> <strong>of</strong> the University <strong>of</strong> Manitoba. This is Anita’s third year serving as a public<br />
representative and Elaine’s second.<br />
Celebrating 125 years <strong>of</strong> service to Manitoba<br />
ICAM_FREEPRESS_AD_11.5625.indd 1 11-05-26 11:48 AM<br />
This ad was run in the Winnipeg Free Press on Saturday, May 28, 2011 in celebration <strong>of</strong> the <strong>Institute</strong>'s 125 th anniversary. It will also be up at the Winnipeg <strong>James</strong><br />
Armstrong Richardson International Airport at the scrolling advertisements over the West Jet baggage carousel for the remainder <strong>of</strong> the anniversary year. Special<br />
thanks to our models (l-r): Dan Richard, CA; Chris Couture, FCA; Gregg Hanson, FCA; and Crystal Cunard, CA.<br />
FOLIO 3
High School Scholarships<br />
Awarded<br />
Students from high schools across the province applied and six individuals were selected to each<br />
receive a $1,000 scholarship. Each recipient displayed high scholastic achievement together with<br />
outstanding accomplishments in work, school and community activities. In addition, they are<br />
all continuing their post-secondary education in Manitoba and have expressed interest in the CA<br />
pr<strong>of</strong>ession.<br />
CA High School Scholarships<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Manitoba is pleased to announce that <strong>James</strong> Manguba, Joel<br />
Miyazawa, Sarah Prins and Amanda Pushka are the recipients <strong>of</strong> the 2011 High School Scholarships<br />
and wishes them every success in their future endeavours.<br />
FOLIO 4<br />
<strong>James</strong> Manguba Joel Miyazawa Sarah Prins Amanda Pushka<br />
Allan M. Moore Scholarships<br />
<strong>The</strong> Manitoba <strong>Chartered</strong> Accountants Foundation Inc. congratulates Mary Ann De Jesus and Kate<br />
Simes, recipients <strong>of</strong> the 2011 Allan. M. Moore, FCA, Scholarships and wishes them every success in<br />
their future endeavours.<br />
Allan M. Moore, FCA<br />
Mary Ann De Jesus Kate Simes<br />
Al Moore was <strong>President</strong> <strong>of</strong> the <strong>Institute</strong> in 1974-75 and served on the<br />
Board <strong>of</strong> the Foundation in the early 1990s. He received the Lifetime<br />
Achievement Award from the <strong>Institute</strong> in 2004. Upon his passing, Al<br />
left a $50,000 bequest to the Foundation and an endowment fund<br />
was established in his name with the income used to provide scholarships<br />
to high school students attending university and interested in a<br />
career as a CA.<br />
Auditor<br />
Selection<br />
To: <strong>The</strong> Members<br />
Each year the Audit Committee <strong>of</strong> <strong>The</strong><br />
<strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong><br />
Manitoba reviews the selection process<br />
for the <strong>Institute</strong>’s auditors and makes<br />
a recommendation to Council for the<br />
coming year.<br />
This is in turn ratified by the membership<br />
at the AGM. In addition, the Audit<br />
Committee approves the fee for the<br />
coming year.<br />
Members <strong>of</strong> the Manitoba <strong>Chartered</strong><br />
Accountants Foundation Inc. also<br />
approve the use <strong>of</strong> the <strong>Institute</strong>’s auditors<br />
as the Foundation’s auditors at their<br />
AGM.<br />
Booke and Partners has now been<br />
approved as the <strong>Institute</strong>’s and Foundation’s<br />
auditors for 2011-12.<br />
In considering the appointment <strong>of</strong><br />
auditors, the committee evaluates the<br />
current auditors and has found that they<br />
continue to meet expectations.<br />
<strong>The</strong> committee has discussed the advantages<br />
and disadvantages <strong>of</strong> changing<br />
auditors and feels that there has been no<br />
compelling reason to change.<br />
<strong>The</strong> committee has agreed however<br />
that if expressions <strong>of</strong> interest were to<br />
be received from other firms, it would<br />
consider a tendering process.<br />
Richard D. Pope, FCA<br />
Chair<br />
2010-11 Audit Committee<br />
Join CA Connect to<br />
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CAs<br />
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<strong>The</strong> site allows you to discuss matters<br />
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relevant to CAs and access information<br />
on newsletters, upcoming webinars and<br />
other events.<br />
Register today at caconnect.com.
Uniting the Canadian Accounting Pr<strong>of</strong>ession<br />
Today versus 2004 - what is different this time?<br />
A lot has changed since 2004 and so has our approach to dealing with the<br />
future <strong>of</strong> our pr<strong>of</strong>ession.<br />
Clearly, external factors pressing us to consider bringing our organizations<br />
together have increased significantly since we explored a possible<br />
merger in 2004. More importantly, we learned from our experience in<br />
2004 and we are changing our approach in two very significant ways:<br />
We are consulting members before we develop any proposals and we are<br />
exploring a concept that would ensure no member is required to give up<br />
or share the pr<strong>of</strong>essional designation they are proud <strong>of</strong> and worked hard to<br />
earn.<br />
We believe it is important that our members have a clear understanding<br />
<strong>of</strong> the differences between what we are doing now and what happened in<br />
2004.<br />
In 2004, considerable member feedback was received by both organizations,<br />
although the proposal was never brought to a formal member<br />
vote. Ultimately, the leaders <strong>of</strong> our organizations at that time determined<br />
that they could not reach agreement on a way forward and ended their<br />
discussions before seeking the support <strong>of</strong> members. Today, members are<br />
being engaged from the outset <strong>of</strong> the discussions and their viewpoints will<br />
inform any decision on the future <strong>of</strong> our pr<strong>of</strong>ession.<br />
In Canada, past attempts to merge pr<strong>of</strong>essional bodies have, for the most<br />
part, been unsuccessful where organizations were expected to either give<br />
up or give away their designations. As CA and CMA members, we are<br />
justifiably proud <strong>of</strong> our designations, which we worked hard to earn and<br />
many <strong>of</strong> us consider a defining factor <strong>of</strong> our pr<strong>of</strong>essional success. We<br />
know that for a merger to be viable the unique value <strong>of</strong> both existing<br />
designations must be preserved. For this reason, the concept being<br />
explored will allow members to keep and continue using their designations,<br />
while uniting our organizations through a measured evolution to<br />
a new <strong>Chartered</strong> Pr<strong>of</strong>essional Accountant (CPA) designation that would<br />
represent the best <strong>of</strong> both the CA and CMA brands.<br />
Rather than adopting one <strong>of</strong> the other CPA monikers used around the<br />
world, we are considering the use <strong>of</strong> <strong>Chartered</strong> Pr<strong>of</strong>essional Accountant.<br />
<strong>The</strong> word “Pr<strong>of</strong>essional” more accurately reflects our diverse memberships<br />
than the word “Public”, which implies a sole focus on public practice. <strong>The</strong><br />
use <strong>of</strong> “<strong>Chartered</strong> Pr<strong>of</strong>essional” also serves to distinguish the Canadian<br />
CPA from the CPA in the United States.<br />
In addition to providing a common banner for the merged pr<strong>of</strong>ession<br />
in Canada, there are a number <strong>of</strong> other compelling reasons for choosing to<br />
create a Canadian CPA designation. As the nature <strong>of</strong> our pr<strong>of</strong>ession grows<br />
increasingly international, it only makes sense to prepare to align ourselves<br />
with the global accounting designation <strong>of</strong> choice, should one emerge.<br />
Today, the CPA and CA are the most recognized designations around<br />
the world. Indeed, the CPA is the most used accounting designation<br />
worldwide, with some form <strong>of</strong> the designation (“Certified Public Accountant”<br />
or “Certified Practising Accountant”) in existence in 30 countries,<br />
including the United States, China, Hong Kong, Japan and Australia.<br />
Using the word “<strong>Chartered</strong>” within the Canadian CPA would allow the<br />
new designation to be aligned with both CA and CPA.<br />
<strong>The</strong>re are also signs that other prominent accounting bodies around the<br />
world are considering the <strong>Chartered</strong> Pr<strong>of</strong>essional Accountant designation.<br />
In fact, both the <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants in England and Wales<br />
and the Association <strong>of</strong> <strong>Chartered</strong> Certified Accountants have recently filed<br />
European Union trademark applications for the CPA initials and the name<br />
<strong>Chartered</strong> Pr<strong>of</strong>essional Accountant.<br />
We believe that by having Canada’s CAs and CMAs come together<br />
<strong>The</strong> way we envision our organizations coming together has also<br />
changed to ensure we preserve the distinct value and respective strengths<br />
<strong>of</strong> each designation. With the creation <strong>of</strong> a new common designation -<br />
<strong>Chartered</strong> Pr<strong>of</strong>essional Accountant (CPA) - neither organization will be<br />
required to issue its existing designation to members <strong>of</strong> the other; nor<br />
would any member be required to give up his or her designation. A CA<br />
would still be a CA, and a CMA would still be a CMA.<br />
Since 2004, the reasons to bring the Canadian accounting pr<strong>of</strong>ession<br />
together have increased and intensified. With the emergence <strong>of</strong><br />
international accounting and assurance standards and global accounting<br />
designations, it is more important than ever that Canadian accountants<br />
have a strong and unified voice on the world stage. Here at home, we are<br />
also experiencing increasing convergence in a number <strong>of</strong> practice areas.<br />
With CMAs expanding into the assurance field and CAs increasingly<br />
working, and now training, outside public practice, the traditional lines<br />
between the designations are blurring and our complex and costly regulatory<br />
structure is becoming out <strong>of</strong> date.<br />
<strong>The</strong> position paper provides more detail about the challenges facing our<br />
pr<strong>of</strong>ession and the principles we have agreed on to build a stronger future<br />
for accounting in Canada.<br />
Creating a uniquely Canadian CPA designation<br />
under the Canadian CPA, we will have an opportunity to create a stronger<br />
designation than currently exists. Representing a unique combination <strong>of</strong><br />
expertise in both financial and management accounting, the Canadian<br />
CPA is envisioned to become a pre-eminent designation for pr<strong>of</strong>essional<br />
accountants working across all sectors <strong>of</strong> the economy, and ultimately<br />
evolve into an internationally recognized credential for all those who aspire<br />
to a career in business. And, at the same time, the Canadian CPA will be<br />
best positioned to be aligned with the global designation <strong>of</strong> choice, should<br />
one emerge.<br />
LOGGING INTO THE ONLINE DISCUSSION FORUMS<br />
To participate on the discussion forums on www.CPACanada.ca,<br />
click on the forum you would like to comment on and follow these<br />
steps:<br />
1. Once you click on a forum, an Authentication box will appear.<br />
Log in with username: admin and password: K940QM<br />
2. If you haven’t signed up yet, click the SIGN UP button at the<br />
top right <strong>of</strong> the Forum page to sign up and create your unique<br />
username and password. You will need your national member<br />
number at sign up to verify your membership status. Once complete,<br />
you will receive an email to verify your registration.<br />
3. If you’ve signed up, click the LOGIN button at the top right <strong>of</strong> the<br />
Forum page and enter your unique username and password.<br />
Note that each time you return to the site to comment you will need to<br />
complete the two step process, first entering the information in step<br />
one and then logging in with your unique username and password.<br />
Take part in the discussion about uniting the Canadian<br />
accounting pr<strong>of</strong>ession.<br />
Visit www.CPACanada.ca for updated information, discussion<br />
forums and town hall listings, or call 1-855-747-2654 to leave<br />
your comments by phone.<br />
FOLIO 5
Three New EEO Training Paths Approved<br />
ICAM is pleased to announce that Council<br />
recently approved three new training paths<br />
with employers as Expanded Experience<br />
Opportunity CA Training Offices.<br />
Under the EEO program, the students are<br />
required to develop both depth and breadth in<br />
the CA Core Competencies under the supervision<br />
<strong>of</strong> senior CAs in the CA Training Office.<br />
Two <strong>of</strong> the recently approved new paths are<br />
in the Tax area with two firms that already <strong>of</strong>fer<br />
FOLIO 6<br />
CICA<br />
Handbook<br />
CICA Standards and<br />
Guidance Collection for CA<br />
members<br />
CAs can sign up for FREE online access<br />
to the full CICA Handbook on the<br />
knotia.ca research site. This includes all<br />
7 Handbook modules.<br />
For member access to the CICA Standards<br />
and Guidance Collection, log in<br />
to knotia.ca.<br />
CAs can also purchase the s<strong>of</strong>tcover<br />
print version that includes the 3<br />
modules:<br />
• CICA Handbook – Accounting<br />
• CICA Handbook – Assurance<br />
• Management’s Discussion &<br />
Analysis.<br />
Also available separately are 3 other<br />
CICA Handbook print modules<br />
including:<br />
•<br />
Part V - Pre-Changeover<br />
Accounting Standards (archive as <strong>of</strong><br />
December, 2009)<br />
• Public Sector Accounting<br />
Handbook (PSACC)<br />
• Risk Oversight & Governance<br />
Collection (RISK).<br />
<strong>The</strong> Standards and Guidance Collection<br />
is also available to members on DVD or<br />
Download (Folio Views), or additional<br />
online access (Initial Office License - up<br />
to 5-user access).<br />
For more information and a full<br />
listing <strong>of</strong> CICA Handbook products,<br />
visit CICA’s new online store at<br />
CAstore.ca/cicahb.<br />
assurance-based training - the Winnipeg <strong>of</strong>fices<br />
<strong>of</strong> KPMG and MNP.<br />
Under these paths, the firms will be able<br />
to hire students directly into their tax practices<br />
rather than into the traditional assurance<br />
practice.<br />
<strong>The</strong> third path is with a new CA Training<br />
Office in industry, Air Canada, where CA<br />
students will train in the Winnipeg <strong>of</strong>fice in an<br />
EEO path which includes experience in both<br />
Financial Reporting and Internal Audit.<br />
This brings the total EEO CA Training<br />
Offices in Manitoba to eight – the other five<br />
EEO paths are <strong>of</strong>fered by Great-West Life,<br />
Investors Group, PwC - Tax, Deloitte - Enterprise<br />
Risk Services and Deloitte - Tax.<br />
If your firm or employer is interested in<br />
learning more about the EEO program, please<br />
contact the <strong>Institute</strong> <strong>of</strong>fice at 204-942-8248 or<br />
email icam@icam.mb.ca.<br />
<strong>The</strong> complimentary ROI e-newsletter is a valuable source <strong>of</strong> timely synopses<br />
<strong>of</strong> news, research, events, best practices, standards and regulations, recent<br />
publications and more – with links to the web-based sources – that can<br />
help you keep up-to-date with information relevant to CAs in industry.
Retention <strong>of</strong> Top Performers<br />
In the last issue <strong>of</strong> Folio we published the first <strong>of</strong> several articles on CA<br />
Training Programs in the corporate and public sectors as well as the non-audit<br />
practice areas <strong>of</strong> CA firms. In this issue, we look at retention <strong>of</strong> top performers.<br />
Management from Great-West Life, Union Gas and Cummins Western Canada<br />
Limited Partnership discuss their recent experience in retaining top performers<br />
by providing existing employees with an option to obtain a CA designation<br />
through their organization.<br />
Becoming an accredited CA Training Office<br />
not only enhances participating organizations’<br />
prospects <strong>of</strong> attracting the best and brightest<br />
university students, including those in co-op<br />
programs; it can also assist participants in<br />
retaining employees who want to pursue their<br />
CA designation after graduating.<br />
It might even carry a special allure for<br />
existing employees who are interested in becoming<br />
CAs.<br />
<strong>The</strong> CA Training Office program has significantly<br />
benefited <strong>The</strong> Great-West Life Assurance<br />
Company. Headquartered in Winnipeg, Great-<br />
West Life became accredited under the program<br />
in 2007.<br />
“We had experiences in the past where we<br />
lost some Bachelor <strong>of</strong> Commerce graduates<br />
after working with us for only a year because<br />
they decided they wanted to pursue the CA<br />
designation, and their only alternative was to<br />
go into the public accounting field for their<br />
training,” says Charles Henaire, FCA, Senior<br />
Vice-<strong>President</strong> and Chief Financial Officer for<br />
Great-West Life.<br />
“Since we’ve started <strong>of</strong>fering CA training<br />
opportunities here, we’ve been able to better<br />
retain these talented staff,” he adds.<br />
<strong>The</strong>re are currently 14 people in the Great-<br />
Conversion to<br />
Accounting<br />
Standards for<br />
Private Enterprises<br />
This concise booklet provides eight<br />
basic steps to help in the transition<br />
to accounting standards for private<br />
enterprises and includes a summary<br />
<strong>of</strong> one-time<br />
exemptions<br />
and mandatory<br />
exceptions from<br />
retrospective<br />
application.<br />
Find it online at<br />
cica.ca/privateenterprises.<br />
Conversion to Accounting<br />
Standards for Private Enterprises:<br />
Basic Transition Steps<br />
West Life training program, which <strong>of</strong>fers CA<br />
students broad rotational exposure to the<br />
company, including its business units, and<br />
investment and operations divisions, as well as<br />
its tax, internal audit, financial reporting, and<br />
performance management areas.<br />
“<strong>The</strong> CA Training Office program is a very<br />
important strategy for us to help ensure we<br />
attract the talent that we need to continue to<br />
run and grow our organization,” says Henaire.<br />
“We see this as a tremendous opportunity<br />
to support our growth and be attractive to<br />
potential employees. We have a strong organizational<br />
culture and feel that when we can attract<br />
people earlier on in their careers it shows our<br />
support and loyalty to them. In return we get<br />
good loyalty back from our staff, and that is a<br />
win-win from our perspective,” he adds.<br />
Great-West Life’s status as an accredited<br />
CA Training Office has also interested some <strong>of</strong><br />
the Great-West Life’s existing staff, who have<br />
inquired about entering the CA study program,<br />
since they can now stay with the company while<br />
receiving their requisite training.<br />
“This opportunity is available to all interested<br />
staff who qualify,” emphasizes Henaire.<br />
Becoming an accredited CA Training Office<br />
in 2009 has also helped Union Gas Limited,<br />
which is headquartered in Chatham, Ont.,<br />
retain talented employees who are interested in<br />
becoming CAs.<br />
“I can think <strong>of</strong> three excellent employees<br />
we lost prior to having the CA Training Office<br />
program, who went to public accounting firms<br />
to get their experience,” recalls Lorie Baker,<br />
Manager <strong>of</strong> Employee Relations at Union Gas.<br />
“We thought, ‘what are those accounting firms<br />
<strong>of</strong>fering that we can’t?’ With a very large finance<br />
department, we knew we had the talent, expertise,<br />
and experience to teach our own students.”<br />
Union Gas will have four recent accounting<br />
graduates and two internal employees participating<br />
in its CA Training Office program as <strong>of</strong><br />
May 2011. <strong>The</strong>y can choose to participate in<br />
three different rotations that will allow them to<br />
gain experience and knowledge in a variety <strong>of</strong><br />
financial roles such as financial accounting, tax,<br />
and audit, to name a few.<br />
<strong>The</strong>se students “see opportunities develop<br />
- they notice that our organization gives<br />
them time <strong>of</strong>f for study; and that they have<br />
the support and materials they need to continue<br />
learning and gaining acumen about our<br />
organization and industry,” says Baker.<br />
“It is a real plus for them,” she stresses.<br />
Furthermore, “our employees do not want to<br />
leave behind their career with Union Gas to go<br />
to an accounting firm to obtain a CA, and then<br />
try and get back in. <strong>The</strong>y lose ground that way,”<br />
Baker explains.<br />
“With the CA Training Office program, they<br />
can stay.”<br />
<strong>The</strong> training program is available to all<br />
Union Gas employees, even those currently outside<br />
<strong>of</strong> the accounting and finance departments<br />
who might not initially have aspirations to the<br />
accounting pr<strong>of</strong>ession, but ultimately decide<br />
they want to pursue their CA designation.<br />
“We post within our organization and say<br />
‘you have to meet the minimum criteria <strong>of</strong> having<br />
51 credited hours, but if you’re interested<br />
you can transfer into the program,’” says Baker.<br />
“We have employees ranging from brand new,<br />
up to 30 years <strong>of</strong> experience, who have the<br />
opportunity to say, ‘I’d like to get my CA,’” she<br />
adds.<br />
Cummins Western Canada Limited Partnership<br />
in Surrey, B.C., the western Canadian<br />
distributor for Cummins Inc., a manufacturer<br />
<strong>of</strong> diesel, engine and power generation equipment,<br />
became an accredited CA Training Office<br />
in February 2011. Cummins is authorized to<br />
train three CA students through rotations that<br />
include financial reporting, internal audit, tax,<br />
and treasury, among other types <strong>of</strong> field and<br />
operational work.<br />
“We’re very excited about having that as a<br />
tool in our employee retention kit,” says Peter<br />
Young, CA, Chief Financial Officer at Cummins<br />
Western Canada.<br />
“<strong>The</strong> reason we liked this program is because<br />
we were having difficulties keeping younger<br />
employees who were looking to get accredited,”<br />
notes Young. “When CA students had to be in<br />
an external audit path, a couple gave us their<br />
notice, and indicated they were planning to<br />
pursue working in a public accounting firm<br />
environment,” he recalls.<br />
Since that was the only avenue for students<br />
to get their requisite experience at that time,<br />
“we started wondering, ‘could we become an<br />
accredited facility or training centre?’ We met<br />
with the <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong><br />
British Columbia and identified that as a possibility,”<br />
Young explains.<br />
In addition to presenting Cummins with<br />
greater opportunities to hire and retain top<br />
notch co-op students from universities, the CA<br />
Training Office program is enticing some people<br />
in the company to consider a career change into<br />
the accounting pr<strong>of</strong>ession.<br />
“We have already had some interest from<br />
people outside <strong>of</strong> our finance group,” Young<br />
says.<br />
FOLIO 7
Surprise! Compilation Engagement Claims<br />
Do Exist by Malcolm D’Souza, MBA, CA, and Sean Hebert<br />
This article addresses the primary causes for<br />
compilation engagement claims, and <strong>of</strong>fers<br />
helpful information on both the precautionary<br />
measures that can be taken by firms to avoid<br />
these claims, as well as details regarding<br />
accountants’ liability in these cases.<br />
Notice to Reader financial statements are<br />
compiled from information supplied by management,<br />
and the Notice to Reader attached<br />
to the financial statements explicitly states that<br />
the <strong>Chartered</strong> Accountant has not “performed<br />
an audit or a review engagement in respect <strong>of</strong><br />
these financial statements and, accordingly,<br />
expresses no assurance thereon.” Readers are<br />
cautioned that “these statements may not be<br />
appropriate for their purposes”. Whether this<br />
disclaimer appears on each page, or pages are<br />
conspicuously marked “Unaudited – see Notice<br />
to Reader”, the Notice clearly informs readers<br />
about the nature <strong>of</strong> the work and cautions them<br />
that the statements may not be appropriate for<br />
an intended use.<br />
Accountants’ liability for compilation<br />
engagements<br />
One might think the accountant is protected<br />
with the Notice to Reader disclaimer, but this is<br />
not necessarily so. Most users read and understand<br />
the Notice to Reader as a disclaimer <strong>of</strong> the<br />
accountant’s responsibility – likely the reason<br />
that very little case authority exists in the Courts<br />
on duty and potential liability in these disputes.<br />
<strong>The</strong> question is: “Can you safely assume that<br />
investors and lenders are sophisticated users who<br />
understand the accountant’s limited involvement<br />
in the preparation <strong>of</strong> the statements?”<br />
Unfortunately, you cannot always make this<br />
assumption. Companies – in particular, small<br />
businesses – typically obtain and use financial<br />
statements for a variety <strong>of</strong> reasons, including to<br />
prepare their tax returns and to obtain financing.<br />
Statements can easily fall into the hands <strong>of</strong><br />
a wide range <strong>of</strong> users beyond the accountant’s<br />
client who may use, rely on, or claim to have<br />
relied on the statements. So why do these claims<br />
arise? Between 1999 and 2010, almost 10 per<br />
cent <strong>of</strong> all claims reported through the AICAsponsored<br />
program arose from compilation<br />
engagements, with the majority <strong>of</strong> these claims<br />
arising from lenders who allegedly relied on the<br />
financial statements.<br />
A typical situation is one where a banker<br />
calls the accountant to discuss the information<br />
on the statements and he/she engages in<br />
a discussion, with the banker enquiring about<br />
accounts receivable, inventory and fixed asset<br />
values on the financial statements. <strong>The</strong> accountant<br />
readily responds to the enquiries, not once<br />
FOLIO 8<br />
suggesting to the banker that the statements<br />
were not prepared with the intention <strong>of</strong> being<br />
used for lending decisions, nor were they appropriate<br />
to be used for such decisions. When the<br />
claim later ensues, the bank takes the position<br />
that since the accountant knew that the banker<br />
should not be relying on the statements for a<br />
lending decision, he or she should not have<br />
been willing to discuss them in the first place.<br />
In a sense, the banker views the conversation<br />
as a waiver on the Notice. In these situations,<br />
the accountant is alleged to have failed to warn<br />
the bank that it is using the statements for a<br />
purpose other than that for which they were<br />
prepared.<br />
As with an audit engagement, the first question<br />
to ask when considering liability is whether<br />
there is a sufficient legal proximity (closeness<br />
<strong>of</strong> the relationship) between the accountant<br />
and the user <strong>of</strong> a statement to give rise to a<br />
duty <strong>of</strong> care. This involves an analysis <strong>of</strong> all <strong>of</strong><br />
the factors <strong>of</strong> the engagement, including the<br />
accountant’s knowledge <strong>of</strong> the ultimate users<br />
for whom the statement is intended. Note that<br />
accountants are cautioned about discussing<br />
financial statements with bankers – for a number<br />
<strong>of</strong> reasons – to avoid demonstrating more<br />
familiarity and involvement with the preparation<br />
<strong>of</strong> the financial statements than prudent<br />
and to avoid taking on advocacy roles for their<br />
client, which are also independence issues.<br />
Assuming proximity exists in a given case,<br />
the issue now becomes whether the user in fact<br />
relied on the financial statements and whether<br />
that reliance was reasonable. If it is discovered<br />
that both legal proximity exists and the user’s<br />
reliance on the statement was reasonable, there<br />
is a potential for liability – notwithstanding the<br />
limited nature <strong>of</strong> the engagement.<br />
In many cases, the reliance will be negated<br />
by clear words in the Notice to Reader, indicating<br />
that a user is expected to understand that<br />
the accountant is not providing any form <strong>of</strong><br />
assurance. This may be clear to sophisticated<br />
users, but the Court does not assume that all<br />
users are sophisticated, nor may it expect anyone<br />
besides an accountant to be familiar with<br />
the differing procedures prescribed by the CICA<br />
Handbook.<br />
Beware the extent <strong>of</strong> work in compilation<br />
engagements<br />
Another trend that is giving rise to claims<br />
is that practitioners are doing extra work in<br />
compilation engagements, thinking this might<br />
afford additional protection. An accountant’s<br />
working papers on a compilation engagement<br />
may include some steps normally associated<br />
with audit or review engagements. <strong>The</strong>re may,<br />
for example, be a bank confirmation or an<br />
analysis <strong>of</strong> receivables. While there is a lack <strong>of</strong><br />
judicial authority on this issue, it is likely that<br />
once an accountant undertakes to perform<br />
any <strong>of</strong> those steps, he/she undertakes a duty to<br />
perform them completely and accurately. To the<br />
extent that the accountant has performed any<br />
<strong>of</strong> those steps, the disclaimer contained in the<br />
Notice to Reader becomes simply untrue – the<br />
accountant has now reviewed or verified some<br />
<strong>of</strong> the information.<br />
Be aware that the courts will consider what<br />
you ought to have done as well as what you<br />
actually did. <strong>The</strong> courts may hold an accountant<br />
to a standard based on the greater <strong>of</strong> the<br />
procedures that ought to have been performed<br />
rather than the procedures that were actually<br />
performed. Make sure to follow up on any “red<br />
flags” that may come up based on procedures<br />
that you performed that may have been beyond<br />
the scope <strong>of</strong> the engagement. It is not an acceptable<br />
defence to say that the red flag was not<br />
followed up on because the procedure that led<br />
to it was beyond the scope <strong>of</strong> the engagement.<br />
In any event, an accountant should not be<br />
associated with information that may be false or<br />
misleading.<br />
Who gets sued? Not just the large firms!<br />
Some sole practitioners and CAs in small<br />
firms believe that all or most <strong>of</strong> the large claims<br />
against CAs are limited to the medium and<br />
large CA firms. Nothing can be further from the<br />
truth. In the AICA-sponsored program, which<br />
insures approximately 85 per cent <strong>of</strong> all small<br />
and medium-sized CA firms across Canada,<br />
20 per cent <strong>of</strong> the 50 largest claims since 1999<br />
originated from sole practitioners and an additional<br />
20 per cent originated from two to three<br />
partner firms.<br />
How to protect yourself from potential<br />
liability<br />
Litigation is an adversarial process. Even if<br />
the claim is eventually found in your favour, the<br />
time demands and stress <strong>of</strong> the claims process<br />
are enormous. With that in mind, accountants<br />
performing compilation engagements should<br />
take the following steps to protect themselves<br />
from potential liability:<br />
•<br />
•<br />
Confirm with the client in writing that the<br />
client understands the limited nature <strong>of</strong> the<br />
engagement and the limited use to which<br />
the statements can be put.<br />
Ensure that the work performed does not<br />
continued on the following page
Annual Golf Tournament<br />
Rossmere Country Club was host to the annual<br />
members’ golf tournament held in conjunction with the<br />
125 th Anniversary Conference. This year’s tournament<br />
format was a Texas Scramble.<br />
Congratulations to the following special event winners:<br />
Longest Putt (9th Hole)<br />
Joelle Caron & Kyle Scott<br />
Straightest Drive (18th Hole)<br />
Susan Nemec & Ian Clegg<br />
Runners-Up - Low Gross Team<br />
<strong>James</strong> <strong>Doer</strong>, Barry Remai & Rick Potter<br />
Compilation Engagements cont’d<br />
•<br />
•<br />
•<br />
Runners-up - Low Gross Team (l-r): <strong>James</strong><br />
<strong>Doer</strong> & Barry Remai. Missing: Rick Potter.<br />
continued from the following page<br />
go beyond the scope <strong>of</strong> the compilation engagement and that if work is done beyond the scope <strong>of</strong><br />
the engagement, that all queries that may arise from the extra work are cleared.<br />
If a bank or other user contacts you, do not engage in a discussion about the financial state-<br />
ments. If that is unavoidable, clearly warn the caller that the statements were not prepared for that<br />
purpose and document in your files that you have done so. Communicate the limitations <strong>of</strong> the<br />
Notice to Reader.<br />
Do not distribute financial statements prepared under a compilation engagement to third parties<br />
on behalf <strong>of</strong> your client, regardless <strong>of</strong> any request or pressure from your client.<br />
Recommend that your client upgrade to an assurance (a review or audit) engagement if the<br />
intended purpose is to distribute the financial statements to third parties.<br />
Most claims arising from compilation engagements are vigorously defended on the basis that there<br />
is a clear disclaimer in the Notice to Reader communication and that sophisticated users <strong>of</strong> financial<br />
statements, especially lenders, should demand an assurance engagement if they intend to rely on parts<br />
<strong>of</strong> the financial statements as a basis for their lending decision.<br />
Following the above listed recommendations should, however, help to minimize the chances <strong>of</strong><br />
successful litigation by third parties against accountants based on their reliance on financial statements<br />
prepared under a compilation engagement.<br />
Guest contributor Malcolm D’Souza, MBA, CA, is with AICA Services Inc. Malcolm regularly provides<br />
seminars to practitioners on risk management. Sean Hebert is a freelance writer who acts as a consultant<br />
to AICA Services Inc. For more information, and to download the Risk Management presentation that<br />
provides other tips to avoid claims, visit www.aica.ca.<br />
Winners <strong>of</strong> the KPMG Trophy for the Low Gross Team (l-r) Justin Fast, Barry Minish, presenter<br />
Gary Hannaford, Trevar Matheson, & Mark Gray.<br />
Understanding<br />
Reports on<br />
Financial<br />
Statements<br />
Are you looking for a brochure to<br />
help you explain the different engagements<br />
and reports to clients? CICA has<br />
published Understanding Reports on<br />
Financial Statements with an updated<br />
auditor’s report under the new Canadian<br />
Auditing Standards. You can download<br />
a free printable PDF version or order<br />
copies customized<br />
with your contact<br />
information. Find<br />
it at the CICA<br />
website at cica.<br />
ca > Services &<br />
Products > Client<br />
Development<br />
Brochure Series.<br />
Understanding Reports On<br />
Financial Statements<br />
www.cica.ca/CAS<br />
FOLIO 9
125 th Anniversary Conference Highlights<br />
125<br />
<strong>The</strong> 125<br />
1886-2011: 125 Years - Countless decisions<br />
th Anniversary Conference, held May 25-26,<br />
celebrated the Manitoba pr<strong>of</strong>ession’s significant milestone<br />
with an array <strong>of</strong> guest speakers and breakout sessions as well<br />
as a wine tasting event in the evening and the annual golf<br />
tournament.<br />
At lunch on opening day, the Honorable Rosann<br />
Wowchuk, Minister <strong>of</strong> Finance, brought greetings from the<br />
province and presented <strong>President</strong> Doug Tkach with the proclamation declaring May 25th , 2011<br />
as <strong>Chartered</strong> Accountants Day in Manitoba.<br />
FOLIO 10<br />
CHARTERED<br />
ACCOUNTANTS LLP<br />
Gold Sponsors<br />
Above: Leadership and motivational strategist<br />
<strong>James</strong> Robbins inspires conference attendees<br />
and delves into what defines good leadership<br />
while sharing his story <strong>of</strong> tackling the summit <strong>of</strong><br />
Sajama, the highest peak in Bolivia.<br />
Left: John Sileo, a privacy and identity theft expert<br />
engages participants in “Thinking Like a Spy” to<br />
protect their privacy, both personally and pr<strong>of</strong>essionally,<br />
as well as their bottom line.<br />
Supporting Sponsors<br />
May 25 th proclaimed as<br />
CA Day in Manitoba!<br />
Thanks to our conference sponsors for your generous support!<br />
Silver Sponsor<br />
Bronze Sponsor
2011-2012 Fall / Winter PD Program<br />
Accounting, Financial Reporting and<br />
Assurance<br />
Accounting, Auditing and Pr<strong>of</strong>essional Practice<br />
Update<br />
Accounting Standards for Private Enterprises<br />
(CICA Handbook – Accounting Part II) – A<br />
Comparison to Part V<br />
Financial Instruments for Private Enterprises<br />
and Not-for-Pr<strong>of</strong>it Organizations<br />
Fraud Happens – What to Do When You<br />
Suspect Fraud<br />
IFRS – An Update<br />
Internal Control for the Small Audit<br />
Internal Control for CEO/CFO Certification<br />
PD Passports<br />
On SALE Now!<br />
Buy Early & Save!<br />
<strong>The</strong> Personal Passport<br />
Offers the convenience and flexibility <strong>of</strong><br />
5 seminar days (any combination <strong>of</strong> ½<br />
day, full day and two day sessions).<br />
• Member Pricing:<br />
$850 until October 14<br />
$950 after October 14<br />
• Non Member Pricing:<br />
$1,100 until October 14<br />
$1,200 after October 14<br />
<strong>The</strong> Corporate Passport<br />
Allows you or others in your organization<br />
9 seminar days (any combination <strong>of</strong><br />
½ day, full day and two day sessions).<br />
• $2,000 until October 14<br />
• $2,200 after October 14<br />
<strong>The</strong> Mini Passport – ONLY for members<br />
who are exempt from paying fees or are<br />
paying reduced fees<br />
Offers the convenience and flexibility <strong>of</strong><br />
3 seminar days (any combination <strong>of</strong> ½<br />
day, full day and two day sessions).<br />
• $300 until October 14<br />
• $350 after October 14<br />
Personal and Mini Passports can be<br />
purchased through the Member Login<br />
area at www.icam.mb.ca.<br />
Or, go to www.icam.mb.ca and download<br />
a registration form or call us at<br />
942-8248.<br />
Not-for-Pr<strong>of</strong>it Organizations – the New<br />
Accounting Standards (CICA Handbook –<br />
Accounting Part III)<br />
Review and Compilation Engagements<br />
<strong>The</strong> CAS Audit <strong>of</strong> Very Small Entities<br />
<strong>The</strong> New Audit Reporting Model and Related<br />
Changes<br />
Corporate Finance<br />
Building a Financial Model<br />
Business Valuations – Introduction<br />
Corporate Treasury Management<br />
Due Diligence for Acquisitions<br />
Financial Modelling in Excel<br />
Financing Strategies<br />
Information Technology<br />
Cloud Computing<br />
Excel 2007 - Advanced<br />
Outlook for Accountants<br />
Paperless Office<br />
Powerpoint Essentials<br />
PDF Forms – What Accountants Need to<br />
Know<br />
Technology for CAs – Don’t Get Left Behind<br />
Management, Leadership & Personal<br />
Development<br />
Advanced Internet Research Techniques for<br />
Accountants<br />
Budgeting & Financial Management<br />
Building Better Business Cases<br />
Building Bridges Across Cultures<br />
CFO’s Role in a Family Business<br />
CFO’s Role to the Board <strong>of</strong> Directors<br />
Discover Your Leadership Strengths<br />
Get More Power from Your Brain<br />
Google Productivity Tools for Accountants<br />
Governance in the Not for Pr<strong>of</strong>it Sector<br />
Improve Controls over Spreadsheets<br />
Integrated Management Practices and<br />
Controls<br />
Leadership Effectiveness<br />
Managing Your Career<br />
Manitoba Check-Up – A Presentation on Living,<br />
Working and Investing in Manitoba<br />
Peak Corporate Performance – Creating a<br />
Performance Framework<br />
Project Management - Tips & Traps<br />
Rules <strong>of</strong> Victory – Find a Better Way to Deal<br />
with Conflict and Chaos<br />
Social Media for Accountants<br />
Take Charge <strong>of</strong> Your Time & Priorities<br />
Transformative Leaderships – Skills for CEOs,<br />
Board Chairs and Other Team Leaders<br />
What’s Next - Charting Your Way Towards a<br />
Purposeful Retirement<br />
Public Sector<br />
PSAB 101<br />
PSAB – Government not-for-pr<strong>of</strong>it<br />
Organizations<br />
PSAB Update 2011<br />
Taxation<br />
Agricultural Update 2011<br />
Catching Up - 5 Years <strong>of</strong> Income Tax<br />
Developments<br />
Everyday Income Tax Issues for the General<br />
Practitioner<br />
GST/HST Refresher for Pr<strong>of</strong>essionals<br />
General Practitioners – Need to Know<br />
Income Splitting<br />
Income Tax Issues for the File Preparer<br />
Income Tax Update - 2011<br />
NPOs & Registered Charities - Taxation<br />
Issues<br />
Practising Safe Tax<br />
Restructuring Private Corporate Groups<br />
RIP – Tax Estate Planning to Minimize Tax<br />
Leakage<br />
Scientific Research and Experimental<br />
Development Tax Credits<br />
Subcontractor vs. Employee – What Every CA<br />
Should Know<br />
Tax for Controllers<br />
Taxation <strong>of</strong> Domestic Family Trusts<br />
- Advanced<br />
Taxation <strong>of</strong> Domestic Trusts – Compliance<br />
Tax Decisions with Long-term Implications<br />
Tax Issues in Real Estate – What Do You<br />
Need to Know?<br />
Tax Planning for Private Enterprise on Business<br />
Succession<br />
Taxation <strong>of</strong> Employee Benefits<br />
Wealth Management<br />
Charitable Giving – A Detailed Review <strong>of</strong> Tax<br />
Issues and Planning Strategies<br />
Creating a Financial Plan<br />
Estate Planning for High Net Worth<br />
Individuals<br />
Investing in Stocks, ETFs & Mutual Funds<br />
On-Line Learning<br />
Accounting Standards for Private Enterprises<br />
– A Survey <strong>of</strong> the Standards<br />
Blackberry – Online Training<br />
Income Tax Refresher – Corporate<br />
Income Tax Refresher – Personal<br />
FOLIO 11
Thank you for supporting the new Anniversary Fund!<br />
In recognition <strong>of</strong> ICAM’s 125 th Anniversary, the Manitoba <strong>Chartered</strong><br />
Accountants Foundation asked Manitoba CAs to consider donating $125 to <strong>The</strong><br />
Anniversary Fund for Teaching Excellence. <strong>The</strong> Fund is designated to enhance<br />
the quality <strong>of</strong> accounting education in Manitoba by providing awards for<br />
teaching excellence. Thank you to the following for your financial contributions<br />
to support the Foundation’s Anniversary Fund for Teaching Excellence:<br />
Gerald Barnes<br />
Veronica Bouvier<br />
Tom Bryk<br />
Blaine Coates<br />
Ed Cherwinski<br />
John Croll<br />
CXA Recruiting<br />
David Devere<br />
Manitoba chartered accountant Gerald Boulet<br />
ran the Boston Marathon in April and finished<br />
as the top Manitoban with a personal best time<br />
<strong>of</strong> 2:59:20. His previous best was 3:05:24 at the<br />
2010 Manitoba Marathon.<br />
“I used my 'math brain' to run a calculated<br />
race as 3 hours is <strong>of</strong>ten the mark that many<br />
marathoners hope to someday achieve and I had<br />
put in the hard work necessary to run a strong<br />
finish to the race,” Gerald said.<br />
FOLIO 12<br />
<strong>James</strong> <strong>Doer</strong><br />
Bill Eamer<br />
Doug Einarson<br />
Gerhard Epp<br />
“Educators that made a difference<br />
for me during my time at the<br />
University <strong>of</strong> Manitoba were<br />
Charlie Tax and Nabil Elias.”<br />
- Fred Horbaty, CA<br />
Gabe Forest<br />
Henry Friesen<br />
Neil Fry<br />
John Granelli<br />
Ken Gray<br />
Mark Gray<br />
Ken Green<br />
Ken Grower<br />
Sid Halpern<br />
Gary Hannaford<br />
Wayne Harding<br />
Fred Horbaty<br />
Rees Jones<br />
Peter Klassen<br />
He made the trip with his brother-in-law<br />
Justin, who came in as the third Manitoban<br />
with a time <strong>of</strong> 3:02:02. Overall, Gerald finished<br />
1,420 out <strong>of</strong> nearly 26,000 entrants.<br />
“I do realize this province has several better<br />
runners than myself, yet having started running<br />
in only February <strong>of</strong> 2008 I am quite proud<br />
<strong>of</strong> this accomplishment. This was my third<br />
full marathon, having qualified for Boston in<br />
both <strong>of</strong> my previous full marathons. Being an<br />
accountant, which is quite sedentary, I<br />
realize the importance <strong>of</strong> physical activity<br />
and having a ‘stress reliever’ such as<br />
this,” Gerald said.<br />
Running has become a Boulet family<br />
affair. Gerald’s wife started running last<br />
year and ran 2 half-marathons in 2010.<br />
But as she was expecting their fifth child,<br />
she was in walking mode in April. Most<br />
recently, his oldest son ran 2 km in his<br />
first run on his ninth birthday with the<br />
goal <strong>of</strong> running a 5k race later this year.<br />
Active in his community <strong>of</strong> Lorette,<br />
Gerald is a mini-soccer coach, treasurer<br />
for the Knights <strong>of</strong> Columbus and was<br />
the Lorette Run Club lead person in<br />
2010.<br />
“While training for Boston this year<br />
I ran with the Road Kill group out <strong>of</strong><br />
Winnipeg. <strong>The</strong> Dairy Farmers <strong>of</strong> Manitoba,<br />
my employer, is also a very active<br />
Mike Lockwood<br />
Dave & Marie Loewen<br />
Jack MacDonald<br />
John MacDonald<br />
Peter Macdonald<br />
Ken Matchett<br />
Ronald Matthews<br />
Stuart McKelvie<br />
“In honour <strong>of</strong> Ken Gray, one <strong>of</strong> my<br />
instructors who provided excellent<br />
instruction back in the early 1960’s.”<br />
- Don Winstone, CA<br />
“…in appreciation to the many teachers I have had<br />
in both the academic and the practical setting…in<br />
tribute and appreciation to the pr<strong>of</strong>ession and you its<br />
leaders who carry on the traditions <strong>of</strong> excellence and<br />
pr<strong>of</strong>essionalism established by the pioneers some 125<br />
years ago.”<br />
- Sid Halpern, FCA<br />
Kim Metcalfe<br />
Gary Miles<br />
Richard Olfert<br />
Art Pearson<br />
Ken Phernambucq<br />
Ross Phillips<br />
John Rae<br />
Ian Seymour<br />
Shirley Sommer<br />
Jon Singleton<br />
Lorraine Taraska<br />
Don Winstone<br />
Peter Wintemute<br />
Is there a special educator who was influential in your life or in your decision to become a CA? Consider making a donation in his or her honour to the Anniversary<br />
Fund for Teaching Excellence. Donations can be made online at icam.mb.ca (click on the green Foundation button and then click the "Donate Now" button).<br />
Manitoba CAs hit the ground running<br />
Gerald Boulet, CA, at the finish line in Boston. <strong>The</strong><br />
photo was taken the day before the race as there was no<br />
way to take a picture like this the day <strong>of</strong> or even after the<br />
race. Gerald tells us that the hair loss is not a factor <strong>of</strong><br />
being an accountant – it runs in his family.<br />
<strong>of</strong>fice with several people participating in the<br />
Manitoba Marathon, including a relay team,”<br />
Gerald said.<br />
“I would strongly encourage anyone who<br />
qualifies for Boston to go – it was the experience<br />
<strong>of</strong> a lifetime. I feel very blessed to have had this<br />
opportunity and could not have done it without<br />
the support <strong>of</strong> those around me, especially my<br />
wife,” he added.<br />
Speaking <strong>of</strong> Marathons....<br />
Congratulations to all <strong>of</strong> our members who<br />
ran in the Manitoba Marathon on Father’s Day!<br />
Special kudos to Manitoba CA Brian Walker <strong>of</strong><br />
PKBW Group, winner <strong>of</strong> the half-marathon.<br />
Brian also won the half in 2007, the last year he<br />
competed.<br />
Hats <strong>of</strong>f also to CA Bradley Keefe with the<br />
Office <strong>of</strong> the Auditor General for placing third<br />
overall in the full marathon. Well done!<br />
Brian Walker, CA, winner <strong>of</strong> the<br />
Manitoba Half-Marathon.
Annual S<strong>of</strong>tball Tournament<br />
Twelve teams took to the field in this year’s annual s<strong>of</strong>tball tournament.<br />
MNP Brandon defeated Ernst & Young 12-3 to win the A-side<br />
final and the Ernst & Young Trophy.<br />
CXA Recruiting defeated Exchange Income in the B-side final.<br />
Thanks to all participants who came out to enjoy the day.<br />
<strong>The</strong> team from MNP Brandon, winners <strong>of</strong> the Ernst & Young Trophy.<br />
B-side winners, CXA Recruiting.<br />
US Update - IRS Proceeds with Plans for<br />
Registered Tax Return Preparers<br />
In 2010, the IRS began implementing its plan<br />
to increase the integrity <strong>of</strong> the tax preparation<br />
industry by registering and regulating all paid<br />
tax return preparers. This plan consisted <strong>of</strong> the<br />
following main components:<br />
•<br />
•<br />
•<br />
•<br />
Require all tax return preparers to register<br />
and obtain a preparer tax identification<br />
numbers (PTINs);<br />
Require all registered preparers who were<br />
not previously bound by Treasury Department<br />
Circular 230 Regulations Governing<br />
Practice Before the Internal Revenue Service<br />
to become subject to these regulations;<br />
Initiate a process for testing tax return<br />
preparers; and<br />
Require a course <strong>of</strong> continuing education for<br />
tax return preparers.<br />
<strong>The</strong> IRS recently issued final regulations to<br />
modify the Treasury Department Circular 230<br />
rules <strong>of</strong> practice, mainly to encompass the new<br />
registered tax return preparer designation.<br />
Canadian paid preparers <strong>of</strong> US tax returns<br />
who are not US attorneys or US certified public<br />
accountants (CPAs) will become part <strong>of</strong> this<br />
new class <strong>of</strong> tax return preparers, and will be<br />
subject to the rules <strong>of</strong> practice contained in this<br />
Circular. US attorneys and CPAs and certain<br />
others were already subject to Circular 230<br />
regulations.<br />
Canadian pr<strong>of</strong>essionals who have applied for<br />
a PTIN and will therefore become registered tax<br />
return preparers should familiarize themselves<br />
with the revised Circular 230 regulations.<br />
<strong>The</strong> next two components <strong>of</strong> the plan, standardized<br />
testing and continuing education are<br />
still at the development stage.<br />
Transition guidance was announced in<br />
Notice 2011-6, Implementation <strong>of</strong> Rules Governing<br />
Tax Return Preparers, issued December<br />
30, 2010. In particular, as an interim rule,<br />
there is no continuing education requirement<br />
for registered tax return preparers who obtain<br />
a provisional PTIN during the first year <strong>of</strong><br />
registration, which commenced on September<br />
30, 2010. This notice also states that individuals<br />
who are supervised by a US attorney,<br />
US CPA, enrolled agent, enrolled retirement<br />
agent or enrolled actuary authorized to practice<br />
before the IRS will not be subject to the testing<br />
requirement provided that they do not sign tax<br />
returns or represent to the IRS or the general<br />
public that they are registered tax return preparers,<br />
and provided that the supervising law firm<br />
or CPA firm is authorized to practice law or be<br />
certified as a public accounting firm in the US.<br />
Given this final restriction, Canadian resident<br />
supervised tax preparers may not be exempt<br />
from testing.<br />
<strong>The</strong> IRS released Notice 2011-48, Registered<br />
Tax Return Preparer Competency Exam on June<br />
7, 2011. This notice invited public comments<br />
on the content and administration <strong>of</strong> this exam<br />
that were to be received by July 7, 2011. As<br />
previously announced in Notice 2011-6, this<br />
exam will initially focus on personal tax return<br />
preparation only, and preparers who do not prepare<br />
personal tax returns will therefore initially<br />
be exempt from the testing and continuing<br />
education requirements.<br />
<strong>The</strong> IRS reports on developments at the Tax<br />
Pr<strong>of</strong>essionals section <strong>of</strong> the IRS website at<br />
irs.gov/taxpros/index.html.<br />
FOLIO 13
Here and <strong>The</strong>re With Members<br />
(Unless otherwise noted, members are resident in Winnipeg.)<br />
ARNASON, Lauren K. (2010) previously with<br />
MNP LLP is now with Northway Aviation<br />
Ltd.<br />
CHEETHAM, Kristi L. (2006) recently<br />
accepted the position <strong>of</strong> Specialist, Technical<br />
Accounting and Research, with Agrium Inc.<br />
in Calgary, AB.<br />
COLLEY, Mark S. (2010) formerly with<br />
Magnus & Buffie is now Assistant Controller<br />
with Richardson International Limited.<br />
COOK, Sarah J.N. (2011) previously with<br />
BDO Canada LLP is now Financial Advisor/<br />
Accountant with Indigenous Management<br />
Group.<br />
DALE, Andrew J. (2001) formerly with GWL<br />
Realty Advisors is now Director, Strategic<br />
Analysis, with Arctic Glacier Inc.<br />
DAVIES, Beverly J. (1984) was elected to<br />
the 2011-2012 Financial Executives International<br />
Canada board <strong>of</strong> directors.<br />
DELEURME, Lise G.M. (2001) was<br />
announced by the Women Business Owners<br />
<strong>of</strong> Manitoba as a finalist for their 2011<br />
Manitoba Woman Entrepreneur <strong>of</strong> the Year<br />
Award. Also, the practice <strong>of</strong> Lise Deleurme<br />
<strong>Chartered</strong> Accountant Inc. was recognized in<br />
the field <strong>of</strong> Micro-businesses by the Lauriers<br />
de la PME Awards, honouring entrepreneurial<br />
excellence <strong>of</strong> bilingual small and<br />
medium-sized businesses.<br />
DUTHIE, Ryan J. (2003) previously with Arctic<br />
Glacier Inc. is now with BDO Dunwoody<br />
LLP in Brandon, MB.<br />
EYOLFSON, Johann K. (2000) recently left<br />
Ernst & Young LLP to accept the position <strong>of</strong><br />
Associate Partner Tax with Pricewaterhouse-<br />
Coopers LLP.<br />
FRIESEN, Scott K. (2001) formerly with Tim-<br />
Br-Marts is now with Shoemaker Drywall<br />
Supplies Ltd. in Calgary, AB.<br />
GOLDBERG, Carlie B. (2000) has left Great-<br />
West Life to accept the position <strong>of</strong> Assistant<br />
Controller with Tundra Oil and Gas Ltd.<br />
GUDERIAN, Rebecca J.M. (2009) previously<br />
with BDO Canada LLP is now with the<br />
Mennonite Central Committee Manitoba.<br />
HARTLEY, Gregory C. (2010) recently<br />
FOLIO 14<br />
transferred with PricewaterhouseCoopers<br />
LLP to Tampa, Florida. His position is now<br />
Senior Associate.<br />
HODKIN, Gail P. (2005) is now with Portage<br />
Regional Recreation Authority Inc. in Portage<br />
la Prairie.<br />
HORBATY, Frederick J. (1998) formerly with<br />
Western Financial Insurance Company is<br />
now Senior Director, Portfolio Reporting &<br />
Governance, with GWL Realty Advisors Inc.<br />
HUNTER, Karin A. (2005) previously with<br />
Deloitte & Touche LLP is now with Standard<br />
Aero.<br />
KNIGHT, Tanya N. (2000) has transferred<br />
to the Saskatoon <strong>of</strong>fice <strong>of</strong> MNP LLP and<br />
accepted the position <strong>of</strong> Regional Managing<br />
Partner for Northern Saskatchewan.<br />
LEMOINE, Kelly L. (1994) <strong>of</strong> the City <strong>of</strong> Winnipeg,<br />
has left the Public Works Department<br />
to accept the position <strong>of</strong> Assistant Controller<br />
with the Community Services Department.<br />
LYSYK, Bonnie J. (1985) was appointed,<br />
effective April 1st, as Provincial Auditor <strong>of</strong><br />
Saskatchewan.<br />
MACDONALD, Terrence L. (1984) formerly<br />
with Canadian Public Accountability Board<br />
in Toronto has accepted Partnership with the<br />
firm SmytheRatcliffe LLP in Vancouver, BC.<br />
MONCUR, Lee N. (2006) previously with<br />
MNP LLP has accepted the position <strong>of</strong><br />
Accountant with the Brandon Regional<br />
Health Authority.<br />
MURPHY, Judith-Ann (1994) formerly with<br />
MNP LLP is now <strong>President</strong> and Chief Executive<br />
Officer at Safety Services Manitoba.<br />
POKHOY, Jonathan M. (2010) previously with<br />
Deloitte & Touche LLP is now Controller<br />
with ML General Contracting Ltd.<br />
POPE, Richard D. (1982; FCA 2007) was<br />
elected to the Board <strong>of</strong> Directors <strong>of</strong> the<br />
Winnipeg Humane Society and will serve as<br />
its Treasurer for the 2011-2012 year. He is<br />
also the Chair <strong>of</strong> the Board for the Winnipeg<br />
Humane Society Foundation for 2011-2012.<br />
PROVEN, D. John (1994) previously with<br />
GrowthWorks Capital Ltd. is now with<br />
Conviron.<br />
ROSENBAUM, Michael S.C.A. (2002) formerly<br />
with the Winnipeg Free Press is now<br />
Corporate Controller with Arctic Glacier Inc.<br />
RUBEL, David T. (1984) has left the Winnipeg<br />
Regional Health Authority to accept<br />
the position <strong>of</strong> Director <strong>of</strong> Enterprise Risk<br />
Management with Alberta Health Services in<br />
Edmonton, AB.<br />
SCOTT, Pauline M. (1998) is now Manager <strong>of</strong><br />
the Corporate Accounting Department with<br />
Arctic Cooperative Ltd.<br />
SHAH, Archit (2001) is now with Globe Wireless,<br />
LLC, in Palm Bay, Florida, USA.<br />
SIMPSON, Elizabeth O. (2003) is now Manager,<br />
Financial Reporting, with Kulczyk Oil<br />
Ventures Inc. in Calgary, AB.<br />
SIMPSON, L. Angela (2010) formerly with<br />
Ernst & Young LLP is now with 24-7<br />
Intouch.<br />
SPIVAK, Marly R. (1998) previously with<br />
Viterra is now with Investors Group.<br />
ST. AMANT, Michel E.J. (1991) formerly with<br />
the Office <strong>of</strong> the Auditor General is now<br />
Manager, Accounting Standards, with Manitoba<br />
Finance, Comptroller's Division.<br />
TANG, Wai Y. (Patricia) (2009) previously with<br />
Hemenway Silver, accepted the position <strong>of</strong><br />
Senior Financial Analyst with MTS Allstream<br />
Inc.<br />
WURCH, Jordan C. (2009) has left Deloitte<br />
Bermuda and is now a Manager in Financial<br />
Services Audit Consultancy at Deloitte UK<br />
in London, England.<br />
Notice <strong>of</strong> Termination<br />
In accordance with bylaw 333 the following<br />
members <strong>of</strong> the <strong>Institute</strong>, namely:<br />
Mary Janeth BEEHLER<br />
Nicholas August HILDEBRAND<br />
were terminated from membership status in<br />
the <strong>Institute</strong> by reason <strong>of</strong> non-payment <strong>of</strong><br />
membership fees and/or failure to file CPD<br />
compliance report.<br />
<strong>The</strong>ir names have been removed from<br />
the Register <strong>of</strong> <strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong><br />
Accountants <strong>of</strong> Manitoba.
Welcome to New Members<br />
Admitted by Affiliation<br />
Sonja Anita CARNEY<br />
John Damgaard LAUGESEN<br />
Admitted by Examination<br />
Joshua P. BLATT<br />
Andrew Michael BROWN<br />
Anna Mae BRYANT<br />
Hao CHEN<br />
Philip Thomas COSS<br />
Patrick Kevin DUECK<br />
Douglas Kyle FRIESEN<br />
Kelsey Leah GIESBRECHT<br />
Ashley Elizabeth GOODING<br />
Terrence Stacy MARTENS<br />
Ira PEREZDETAGLE<br />
Admitted by CA Reciprocity<br />
Sanet SWANEPOEL<br />
Retired Members<br />
<strong>The</strong> following members (year <strong>of</strong> designation shown<br />
in brackets) retired and were granted exemption <strong>of</strong><br />
membership fees.<br />
Gary Peter BURDEY (1972)<br />
Barton Thomas BURRON (1971)<br />
William Stewart CAMPBELL (1974)<br />
Gilles Joseph Lucien CHAPUT (1975)<br />
Paul John COURTEAU (1972)<br />
Linda Carol EMBY (1980)<br />
Robert FILUK (1963)<br />
Siang Guan FOO (1972)<br />
Jeffrey Burton GRESHAM (1977)<br />
Lloyel Quentin Burrows HULL (1966)<br />
Robert Charles HUNTER (1963)<br />
Thomas Douglas KIRKUP (1974)<br />
Bennard Michael LAPCHUK (1969)<br />
Robert Harold LEGGETT (1976)<br />
<strong>James</strong> Ross NICHOL (1971)<br />
Donald Joseph PLUNKETT (1971)<br />
Christopher Robert PRYSTENSKI (1976)<br />
Judith Rebecca PUTTER (1977)<br />
John Michael SPENCE (1965)<br />
Daniel Frederick STOCKWELL (1975)<br />
Frederick Douglas ZAPLITNY (1972)<br />
News <strong>of</strong> Members<br />
Resigned in Good Standing<br />
Please note that members who move to another<br />
province or territory in Canada or Bermuda,<br />
obtain membership with that <strong>Institute</strong> <strong>of</strong> residence<br />
and do not wish to retain Manitoba membership<br />
are required to advise the Manitoba <strong>Institute</strong><br />
in order to avoid suspension or termination <strong>of</strong><br />
membership in Manitoba. In most cases, members<br />
who resign no longer reside in Manitoba and<br />
hold membership in another provincial institute.<br />
Resignation in good standing was accepted for the<br />
following:<br />
Derrick H. ANTHONY<br />
Member 2004<br />
(Residing in Quispamsis, NB)<br />
Joyce Margaret Anne FINLAY<br />
Member 1978<br />
(Residing in Winnipeg, MB)<br />
Martin FISH<br />
Member 1990<br />
(Residing in Vancouver, BC)<br />
Karla Leanne GINTER<br />
Member 2007<br />
(Residing in Lethbridge, AB)<br />
Patrick Edward GROENING<br />
Member 1999<br />
(Residing in Kelowna, BC)<br />
Joyce Mary HADALLER<br />
Member 1975<br />
(Residing in Winnipeg, MB)<br />
Roland Norman HAMLIN<br />
Member 1995<br />
(Residing in Manitou Beach, SK)<br />
<strong>James</strong> Saundry HENDERSON<br />
Member 1982, FCA 1989<br />
(Residing in St. Albert, AB)<br />
Pawel Igor KUZEMCZAK<br />
Member 2009<br />
(Residing in Toronto, ON)<br />
Alana Margaret MACNEILL<br />
Member 2003<br />
(Residing in Halifax, NS)<br />
Charles William MARKUSA<br />
Member 1973<br />
(Residing in Winnipeg, MB)<br />
Natalie Mae MARMUS<br />
Member 2010<br />
(Residing in Kenora, ON)<br />
Cameron Ronald MARSLAND<br />
Member 1989<br />
(Residing Selkirk, MB)<br />
Alexander <strong>James</strong> Fead MCAULEY<br />
Member 2009<br />
(Residing in Dryden, ON)<br />
Jennifer Lynn OSSENI<br />
Member 2006<br />
(Residing in Ottawa, ON)<br />
Noble Darryl Jerold SEGAL<br />
Member 1971<br />
(Residing in Winnipeg, MB)<br />
Brent Michael STEELE<br />
Member 2000<br />
(Residing in Nepean, ON)<br />
Andrew Clifford WILTON<br />
Member 1970<br />
(Residing in Brandon, ON)<br />
Firm Changes<br />
Effective June 6, 2011, the practising firm<br />
name Meyers Norris Penny LLP <strong>Chartered</strong><br />
Accountants changed to MNP LLP <strong>Chartered</strong><br />
Accountants.<br />
K.E. Gray (1948) deregistered his practice<br />
Kenneth E. Gray, <strong>Chartered</strong> Accountant,<br />
from public accounting.<br />
Application for the incorporation <strong>of</strong> a pr<strong>of</strong>essional<br />
practice was accepted for Dion Bird<br />
<strong>Chartered</strong> Accountant Inc.<br />
<strong>The</strong> practising firms <strong>of</strong> M.J. Beehler, <strong>Chartered</strong><br />
Accountant, and Nick A. Hildebrand,<br />
<strong>Chartered</strong> Accountant, were involuntarily<br />
closed as a result <strong>of</strong> the membership termination<br />
<strong>of</strong> the firm’s sole practising member.<br />
In Memoriam<br />
We record with regret the passing <strong>of</strong>:<br />
Terence EGAN<br />
(Member 1957)<br />
Passed Away March 7, 2011<br />
Thomas John HEINTZ<br />
(Member 1980)<br />
Passed Away June 12, 2011<br />
Brian <strong>James</strong> THOMPSON<br />
(Member 1966)<br />
Passed Away April 11, 2011<br />
Godfrey Donald TIPPETT<br />
(Member 1966)<br />
Passed Away March 30, 2011<br />
FOLIO 15
Telephone Numbers & Email Addresses for <strong>Institute</strong> Staff<br />
Gary Hannaford FCA<br />
Chief Executive Officer<br />
ghannaford@icam.mb.ca Direct Line: 924.4410<br />
Kathy Zaplitny CA<br />
Sr. Director <strong>of</strong> Pr<strong>of</strong>essional Services & Operations<br />
kzaplitny@icam.mb.ca Direct Line: 924.4411<br />
Kim Metcalfe CA<br />
Director <strong>of</strong> Student Recruitment and Ethics<br />
kmetcalfe@icam.mb.ca Direct Line: 924.4419<br />
Dianne Laidler CMA<br />
Director <strong>of</strong> Administration<br />
dlaidler@icam.mb.ca Direct Line: 924.4412<br />
Shirley Sommer CA<br />
Registrar<br />
ssommer@icam.mb.ca Direct Line: 924.4414<br />
Tanya Beck<br />
Manager <strong>of</strong> Communications<br />
tbeck@icam.mb.ca Direct Line: 924.4416<br />
FOLIO 16<br />
PROUD TO JOIN<br />
THE CELEBRATION.<br />
Congratulations to the <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong><br />
Accountants <strong>of</strong> Manitoba as you celebrate 125 years<br />
<strong>of</strong> commitment to your members and their clients<br />
in communities across the province.<br />
At CA Insurance Plans West, we’re proud to be<br />
a partner in providing your members with custom<br />
insurance solutions.<br />
Visit caipw.ca or call 1.800.661.6430<br />
CA Insurance Plans West <strong>of</strong>fers coverage exclusively to CAs and CA firms.<br />
Term Life Insurance • Long Term Disability • Medical and Dental • Home & Auto Insurance (AB only) • Office Contents<br />
Jody Bibeau<br />
Receptionist/Clerk<br />
jbibeau@icam.mb.ca Direct Line: 942.8248<br />
Michelle Chartrand<br />
Executive Assistant<br />
mchartrand@icam.mb.ca Direct Line: 924.4418<br />
Darlene Kochanski<br />
Communications Assistant<br />
dkochanski@icam.mb.ca Direct Line: 924.4415<br />
Marie Kostiuk<br />
PD Coordinator<br />
mkostiuk@icam.mb.ca Direct Line: 924.4413<br />
Kimberly Leung<br />
Assistant Registrar & Accounting Assistant<br />
kleung@icam.mb.ca Direct Line: 924.4417<br />
Practice Advisory Services Line<br />
942.8248 ext. 211<br />
Coming<br />
Events<br />
Uniform Evaluation<br />
September 13-15<br />
Member Recognition<br />
Dinner<br />
<strong>The</strong> Fairmont Winnipeg<br />
Wednesday, November 9<br />
Reception 6 pm<br />
Dinner 6:45 pm<br />
UFE Results Release<br />
Friday, December 2<br />
Summer<br />
Hours<br />
<strong>The</strong> <strong>Institute</strong> is now<br />
operating on summer<br />
hours. Our doors are open<br />
from 8:30 am to 4:30 pm.<br />
Regular <strong>of</strong>fice hours (8:30<br />
am to 5:30 pm) will resume<br />
in the fall on Tuesday,<br />
September 6.<br />
<strong>The</strong> <strong>of</strong>fice will be closed<br />
on the following statutory<br />
holidays:<br />
• August 1<br />
• September 5<br />
• October 10<br />
Folio published by:<br />
<strong>The</strong> <strong>Institute</strong> <strong>of</strong> <strong>Chartered</strong> Accountants <strong>of</strong> Manitoba<br />
700 - One Lombard Place, Winnipeg, MB R3B 0X3<br />
Tel: 204 942.8248 Fax: 204 943.7119<br />
Toll Free in MB: 1 888 942.8248<br />
icam@icam.mb.ca www.icam.mb.ca