James Doer Elected President - The Institute of Chartered ...

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High School Scholarships Awarded Students from high schools across the province applied and six individuals were selected to each receive a $1,000 scholarship. Each recipient displayed high scholastic achievement together with outstanding accomplishments in work, school and community activities. In addition, they are all continuing their post-secondary education in Manitoba and have expressed interest in the CA profession. CA High School Scholarships The Institute of Chartered Accountants of Manitoba is pleased to announce that James Manguba, Joel Miyazawa, Sarah Prins and Amanda Pushka are the recipients of the 2011 High School Scholarships and wishes them every success in their future endeavours. FOLIO 4 James Manguba Joel Miyazawa Sarah Prins Amanda Pushka Allan M. Moore Scholarships The Manitoba Chartered Accountants Foundation Inc. congratulates Mary Ann De Jesus and Kate Simes, recipients of the 2011 Allan. M. Moore, FCA, Scholarships and wishes them every success in their future endeavours. Allan M. Moore, FCA Mary Ann De Jesus Kate Simes Al Moore was President of the Institute in 1974-75 and served on the Board of the Foundation in the early 1990s. He received the Lifetime Achievement Award from the Institute in 2004. Upon his passing, Al left a $50,000 bequest to the Foundation and an endowment fund was established in his name with the income used to provide scholarships to high school students attending university and interested in a career as a CA. Auditor Selection To: The Members Each year the Audit Committee of The Institute of Chartered Accountants of Manitoba reviews the selection process for the Institute’s auditors and makes a recommendation to Council for the coming year. This is in turn ratified by the membership at the AGM. In addition, the Audit Committee approves the fee for the coming year. Members of the Manitoba Chartered Accountants Foundation Inc. also approve the use of the Institute’s auditors as the Foundation’s auditors at their AGM. Booke and Partners has now been approved as the Institute’s and Foundation’s auditors for 2011-12. In considering the appointment of auditors, the committee evaluates the current auditors and has found that they continue to meet expectations. The committee has discussed the advantages and disadvantages of changing auditors and feels that there has been no compelling reason to change. The committee has agreed however that if expressions of interest were to be received from other firms, it would consider a tendering process. Richard D. Pope, FCA Chair 2010-11 Audit Committee Join CA Connect to network with other CAs CA Connect, a new service from the CICA, is a business networking site strictly for Canadian CAs. The site allows you to discuss matters in a forum with other CAs, read blogs relevant to CAs and access information on newsletters, upcoming webinars and other events. Register today at caconnect.com.
Uniting the Canadian Accounting Profession Today versus 2004 - what is different this time? A lot has changed since 2004 and so has our approach to dealing with the future of our profession. Clearly, external factors pressing us to consider bringing our organizations together have increased significantly since we explored a possible merger in 2004. More importantly, we learned from our experience in 2004 and we are changing our approach in two very significant ways: We are consulting members before we develop any proposals and we are exploring a concept that would ensure no member is required to give up or share the professional designation they are proud of and worked hard to earn. We believe it is important that our members have a clear understanding of the differences between what we are doing now and what happened in 2004. In 2004, considerable member feedback was received by both organizations, although the proposal was never brought to a formal member vote. Ultimately, the leaders of our organizations at that time determined that they could not reach agreement on a way forward and ended their discussions before seeking the support of members. Today, members are being engaged from the outset of the discussions and their viewpoints will inform any decision on the future of our profession. In Canada, past attempts to merge professional bodies have, for the most part, been unsuccessful where organizations were expected to either give up or give away their designations. As CA and CMA members, we are justifiably proud of our designations, which we worked hard to earn and many of us consider a defining factor of our professional success. We know that for a merger to be viable the unique value of both existing designations must be preserved. For this reason, the concept being explored will allow members to keep and continue using their designations, while uniting our organizations through a measured evolution to a new Chartered Professional Accountant (CPA) designation that would represent the best of both the CA and CMA brands. Rather than adopting one of the other CPA monikers used around the world, we are considering the use of Chartered Professional Accountant. The word “Professional” more accurately reflects our diverse memberships than the word “Public”, which implies a sole focus on public practice. The use of “Chartered Professional” also serves to distinguish the Canadian CPA from the CPA in the United States. In addition to providing a common banner for the merged profession in Canada, there are a number of other compelling reasons for choosing to create a Canadian CPA designation. As the nature of our profession grows increasingly international, it only makes sense to prepare to align ourselves with the global accounting designation of choice, should one emerge. Today, the CPA and CA are the most recognized designations around the world. Indeed, the CPA is the most used accounting designation worldwide, with some form of the designation (“Certified Public Accountant” or “Certified Practising Accountant”) in existence in 30 countries, including the United States, China, Hong Kong, Japan and Australia. Using the word “Chartered” within the Canadian CPA would allow the new designation to be aligned with both CA and CPA. There are also signs that other prominent accounting bodies around the world are considering the Chartered Professional Accountant designation. In fact, both the Institute of Chartered Accountants in England and Wales and the Association of Chartered Certified Accountants have recently filed European Union trademark applications for the CPA initials and the name Chartered Professional Accountant. We believe that by having Canada’s CAs and CMAs come together The way we envision our organizations coming together has also changed to ensure we preserve the distinct value and respective strengths of each designation. With the creation of a new common designation - Chartered Professional Accountant (CPA) - neither organization will be required to issue its existing designation to members of the other; nor would any member be required to give up his or her designation. A CA would still be a CA, and a CMA would still be a CMA. Since 2004, the reasons to bring the Canadian accounting profession together have increased and intensified. With the emergence of international accounting and assurance standards and global accounting designations, it is more important than ever that Canadian accountants have a strong and unified voice on the world stage. Here at home, we are also experiencing increasing convergence in a number of practice areas. With CMAs expanding into the assurance field and CAs increasingly working, and now training, outside public practice, the traditional lines between the designations are blurring and our complex and costly regulatory structure is becoming out of date. The position paper provides more detail about the challenges facing our profession and the principles we have agreed on to build a stronger future for accounting in Canada. Creating a uniquely Canadian CPA designation under the Canadian CPA, we will have an opportunity to create a stronger designation than currently exists. Representing a unique combination of expertise in both financial and management accounting, the Canadian CPA is envisioned to become a pre-eminent designation for professional accountants working across all sectors of the economy, and ultimately evolve into an internationally recognized credential for all those who aspire to a career in business. And, at the same time, the Canadian CPA will be best positioned to be aligned with the global designation of choice, should one emerge. LOGGING INTO THE ONLINE DISCUSSION FORUMS To participate on the discussion forums on www.CPACanada.ca, click on the forum you would like to comment on and follow these steps: 1. Once you click on a forum, an Authentication box will appear. Log in with username: admin and password: K940QM 2. If you haven’t signed up yet, click the SIGN UP button at the top right of the Forum page to sign up and create your unique username and password. You will need your national member number at sign up to verify your membership status. Once complete, you will receive an email to verify your registration. 3. If you’ve signed up, click the LOGIN button at the top right of the Forum page and enter your unique username and password. Note that each time you return to the site to comment you will need to complete the two step process, first entering the information in step one and then logging in with your unique username and password. Take part in the discussion about uniting the Canadian accounting profession. Visit www.CPACanada.ca for updated information, discussion forums and town hall listings, or call 1-855-747-2654 to leave your comments by phone. FOLIO 5
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